Branch Deposits definition

Branch Deposits means, as of any date, the Deposits outstanding on such date domiciled at the Branches; provided, however, that Branch Deposits do not include (i) brokered certificates of deposit, (ii) Withholding Accounts, as defined in Section 6.7, or (iii) Deposits not assumed pursuant to Section 4.3.
Sample 1
Branch Deposits. The cut-off time for branch deposits made in person at the branch or received at a branch by mail is the closing time of the branch. Branch closing times vary by location. • Deposits may be made at select BMO Xxxxxx ATMs. The cut-off time for ATM deposits is 6:00 p.m. Central Time.
Sample 1
Branch Deposits means, as of any given time, all deposits (as defined in Section 3(l) of the Federal Deposit Insurance Act (“FDIA”), as amended, 12 U.S.C. Section 1813(l)) domiciled at any Branch Office, including the aggregate balances of all savings accounts (including certificates of deposit), including accounts accessible by negotiable orders of withdrawal or other demand instruments, all deposit accounts maintained by a customer for the stated purpose of the accumulation of funds to be drawn upon at retirement (“Retirement Accounts”), all deposit accounts domiciled at each Branch Office through which Seller accepts payments or deposits for credit or deposit to another account domiciled at such Branch Office, all deposit accounts domiciled at the Branch Offices subject to arrangements between the owner of the account and a third party which directly makes Automated Clearing House (“ACH”) debits and credits, including social security payments, Federal recurring payments, and other payments debited and/or credited on a regularly scheduled basis to or from such accounts (such payments being hereinafter referred to as the “Automated Items” and such accounts being hereinafter referred to as the “Automated Accounts”), and all other accounts and deposits domiciled at the Branch Offices, together with interest, if any, that are accrued but unposted to Seller’s general ledger as of such time. Notwithstanding the foregoing, Branch Deposits shall not include any Certificate of Deposit Account Registry Service accounts or any Excluded Deposit. For purpose of this Agreement, an “Excluded Deposit” means any (i) deposit account that cannot be assumed by Purchaser because of legal impediments, (ii) deposit account of any customer with a primary relationship with a branch of Seller other than one of the Branch Offices (each such customer is identified on Section 1.3(a)(ii) of the Seller Disclosure Letter), (iii) brokered deposit account and (iv) deposit account that is involved in any pending or threatened litigation, mediation or arbitration as of the Closing Date.
Sample 1

Examples of Branch Deposits in a sentence

  • On the Closing Date, no action, suit or proceeding shall be pending or threatened against Seller which is reasonably likely to (a) materially and adversely affect the Assets or the Branch Deposits or (b) materially and adversely affect the transactions contemplated herein.

  • Purchaser and Seller agree to make such adjustment to interest paid on the Branch Deposits as may be necessary to reconcile the differences in their respective methods of calculation of interest to insure that depositors are paid the full amount of interest due to them.

  • Purchaser shall report from the day after the Closing Date through the end of the calendar year all interest credited to, interest withheld from, and early withdrawal penalties charged to the Branch Deposits assumed by Purchaser.

  • Purchaser agrees to honor all previously authorized ACH transfers with respect to the Branch Deposits to the same extent as if the ACH transfer were made with respect to similar deposits or accounts at Purchaser for a period of ninety (90) calendar days following the Closing Date, and shall hold Seller harmless with respect to any wrongful dishonor by Purchaser thereof within such period.

  • As of the Closing Date, all records related to the Branch Deposits and the Assets, which will be transferred to Purchaser by Seller hereunder are true and correct in all material respects, including genuineness of signatures.

  • There is no action, suit, proceeding or investigation pending, nor to the knowledge of Seller, threatened against Seller before any court, arbitrator or administrative or governmental body which may result in any materially adverse change in the Assets or Branch Deposits or which could materially and adversely affect the ability of Seller to perform its obligations under this Agreement or which in any manner questions the validity of this Agreement.

  • Does the volume listed for Branch Deposits include currency deposits?ANSWER: Yes.

  • Seller shall report from January 1, 2000 through the Closing Date all interest credited to, interest withheld from, and early withdrawal penalties charged to the Branch Deposits which are assumed by Purchaser under this Agreement.

  • Seller will not be obligated to accept new direct debit arrangements on Branch Deposits after the date when all regulatory approvals have been obtained, nor will Seller be obligated to forward such direct debits or give an accounting thereof other than by electronic transmission.

  • Except as set forth in Schedule 4.25, no portion of the Branch Deposits represents a deposit by any Affiliate of Bank.


More Definitions of Branch Deposits

Branch Deposits means, as of any date, the Deposits outstanding on such date at the Branches, provided, however, that Branch Deposits shall not include (i) self-directed XXX Accounts and Xxxxx Accounts which will not be or have not been transferred to Purchaser in accordance with Sections 2.4 and 2.5, respectively, (ii) Escheatable Deposits, and (iii) any other deposit liabilities which, by law or contract (including the terms of any relevant deposit agreement), either Purchaser is not permitted to assume or Seller is not permitted to sell, transfer, assign or otherwise dispose of.
Sample 1
Branch Deposits mean all deposits as defined in Section 3(1) of the Federal Deposit Insurance Act, as amended (12 USC Section 1831(1)), at the Branches.
Sample 1
Branch Deposits means, as of any date, the Deposits outstanding on such date at the Branches, the ATMs and CASC; provided, however, that, for the -------- ------- purposes of determining Core Deposits and calculating the Asset/Liability Premium and for the purposes of Section 9.1(d) only, Branch Deposits shall not include (i) Escheatable Deposits, (ii) deposits obtained or placed through a deposit broker as defined in 12 C.F.R. Section 561.2a, (iii) Deposits subject to holds placed by Seller (other than pursuant to Regulation CC) as of the Closing Date, including holds placed as a result of an attachment, garnishment or other legal action or Seller's debt collection efforts, (iv) savings accounts with negative balances, (v) intra-bank deposits or deposits by an Affiliate, (vi) Deposits that are Government Deposits and (vii) Accrued Interest on any Deposit.
Sample 1

Related to Branch Deposits

  • Time Deposits means time deposits, certificates of deposit or similar arrangements with any bank or trust company, including the Trustee or an affiliate thereof, which is a member of the Federal Deposit Insurance Corporation.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Special Deposits have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Assumed Deposits means Deposits.

  • Deposit Liabilities means all of Seller's duties, obligations and liabilities relating to the deposit accounts of the Branches as of the Effective Time (including accrued but unpaid or uncredited interest thereon).

  • deposits townsite means the townsite to be established on or near the mining areas pursuant to this Agreement;

  • Bid Deposit means a financial guarantee to ensure the successful bidder will enter into an agreement.

  • Customer Deposits means deposits made by customers with respect to the purchase of goods or the performance of services.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Deposits means all deposits (as defined in 12 U.S.C. § 1813(l)) that are held by any Seller or any of its Affiliates in connection with the Business, in each case, in the name or for the benefit of any clients or customers under the Appointments solely in their capacity as clients or customers of the Business and including any such deposits received by any Seller from and after the date hereof through the close of business on the Closing Date.

  • Direct Deposit Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Xxxxx Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below. Name on Deposit Account: Xxxxx Fargo Bank, N.A. Deposit Account Number: Further Credit Information/Instructions: Disbursements of Loan Proceeds Subsequent to Loan Closing/Origination Subsequent Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Subsequent Disbursement Authorizer”) to disburse Loan proceeds after the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Subsequent Disbursement”): Individual’s Name Title 1.

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Security Deposits shall have the meaning set forth in Section 5.1.17(e) hereof.

  • Payments or Deposits means the cash, check, or credit card amounts actually paid for Your Trip. Certificates, vouchers, discounts, credits, frequent traveler or frequent flyer rewards, miles or points applied (in part or in full) towards the cost of Your Travel Arrangements are not Payments or Deposits as defined herein.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Tenant Deposits means all security deposits, prepaid rentals, cleaning fees and other refundable deposits and fees collected from Tenants, plus any interest accrued thereon, paid by Tenants to Seller pursuant to the Leases. Tenant Deposits shall not include any non-refundable deposits or fees paid by Tenants to Seller, either pursuant to the Leases or otherwise.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.