Canadian financial institution definition

Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

Canadian financial institution means (a) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (b) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

Canadian financial institution means a bank, loan corporation, trust company, insurance company, treasury branch, credit union or caisse populaire that, in each case, is authorized to carry on business in Canada or a jurisdiction, or the Confédération des caisses populaires et d'économie Desjardins du Québec;

Examples of Canadian financial institution in a sentence

• The Company manages credit risk with respect to its cash by maintaining demand deposits with a major Canadian financial institution; however, this exposes the Company’s cash to concentration of credit risk as all amounts are held at a single institution.

• The Company manages credit risk in respect of cash and cash equivalents and short-term investments by holding these at a major Canadian financial institution with strong investment-grade ratings by a recognized agency.

• The Company’s cash is held at a large Canadian financial institution in interest bearing accounts, and therefore the Company is subject to low credit risk.

• FINANCIAL AND CAPITAL RISK MANAGEMENT (cont’d…) Concentrations of business risk The Company maintains a majority of its cash with a major Canadian financial institution and the remainder of its cash with a major Mexican financial institution.

• Concentration of credit risk exists with respect to the Company’s cash and cash equivalents, as all amounts are held at a major Canadian financial institution.

More Definitions of Canadian financial institution

Canadian financial institution means any of the following:

Canadian financial institution means a “Canadian financial institution” as defined under the Bank Act, S.C. 1991, c.46, but does not include an entity that is primarily engaged in dealing in securities, including portfolio management and investment counselling.

Canadian financial institution means a Canadian financial institution as defined in National Instrument 45-106 Prospectus Exemptions;

Canadian financial institution means a Schedule I or Schedule II Bank pursuant to the Bank Act (Canada), an insurance company governed by federal or provincial insurance legislation and a loan or trust company governed by federal or provincial loan and trust company legislation.

Canadian financial institution means a bank, loan corporation, trust company, insurance company, treasury branch, credit union or caisse populaire that, in each case, is authorized to carry on business in Canada or a jurisdiction, or the Confédération des caisses populaires et d’économie Xxxxxxxxxx du Québec; “control” occurs if

Canadian financial institution has the meaning set forth in the Asset Purchase Agreement.

Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under Section 473(1) of that Act, or