Conduit Bank definition

Conduit Bank means any special purpose corporation organized and administered by any Bank for the purpose of making Loans otherwise required to be made by such Bank and designated by such Bank in a written instrument; provided, that the designation by any Bank of a Conduit Bank shall not relieve the designating Bank of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Bank fails to fund any such Loan, and the designating Bank (and not the Conduit Bank) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Bank, and provided, further, that no Conduit Bank shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 10.3, 10.4 or 12.6 than the designating Bank would have been entitled to receive in respect of the extensions of credit made by such Conduit Bank or (b) be deemed to have any Commitment.

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Conduit Bank any special purpose corporation organized and administered by any Bank for the purpose of making Loans and funding L/C Participant Obligations otherwise required to be made or funded by such Bank and designated to the Administrative Agent and the Company by such Bank in a written instrument; provided, that the designation by any Bank of a Conduit Bank shall not relieve the designating Bank of any of its obligations to fund a Loan or an L/C Participant Obligation under this Agreement if, for any reason, its Conduit Bank fails to fund any such Loan or L/C Participant Obligation, and the designating Bank (and not the Conduit Bank) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Bank, and provided, further, that no Conduit Bank shall (a) be entitled to receive any greater amount pursuant to subsection 8.5, 8.6, 8.8, or 15.5 than the designating Bank would have been entitled to receive in respect of the extensions of credit made by such Conduit Bank or (b) be deemed to have any Commitment.

Conduit Bank means a system of more than one conduit bundled together to protect and consolidate communications infrastructure.

Examples of Conduit Bank in a sentence

The portion of a Conduit installation, usually in a Conduit Bank formation, between adjacent manholes, handholes, vaults and/or other dividing points.
The Program Agent shall not be deemed to have knowledge or notice of the occurrence of any Incipient Event of Termination or of any Event of Termination unless the Program Agent has received notice from any Investor Agent, Conduit, Bank, the Servicer, any Originator or the Transferor stating that an Incipient Event of Termination or Event of Termination has occurred hereunder and describing such Incipient Event of Termination or Event of Termination.
Notwithstanding the foregoing, any Conduit Bank may assign at any time to its designating Bank hereunder without the consent of the Borrower or the Agent any or all of the Loans it may have funded hereunder and pursuant to its designation agreement and without regard to the limitations set forth in the first sentence of this Section 10.06(c).
Notwithstanding the foregoing, no Conduit Bank shall assign any portion of the Term Loans it may have funded hereunder without the consent of the Company and the Administrative Agent unless such assignment is to its designating Bank hereunder.
Any Bank other than a Conduit Bank may, without the consent of the Company, in accordance with applicable law, at any time sell to one or more banks, financial institutions or other entities (each, a "Participant") participating interests in any Term Loan owing to such Bank, any Commitment of such Bank or any other interest of such Bank hereunder and under the Notes.
This Assignment Agreement is being executed and delivered in accordance with Section 12.1(b) of that certain Receivables Purchase Agreement dated as of January 7, 2000 by and among TW Holdings III, Inc., as Seller, Trendwest Resorts, Inc., as Servicer, Sage Systems, Inc., as Custodian, International Securitization Corporation ("Conduit"), Bank One, NA, as Agent and Paying Agent, and the Financial Institutions party thereto (as amended, modified or restated from time to time, the "Purchase Agreement").
In addition, any Conduit Bank may disclose, on a confidential basis, the existence and terms of the Loans it has funded to any Rating Agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancements to such Conduit Bank; provided that no such Person shall receive any confidential financial information with respect to the Lessee unless such Person has complied with subsection 14.21.

More Definitions of Conduit Bank

Conduit Bank means any special purpose corporation organized and

Conduit Bank means any special purpose funding vehicle that (i) is organized under the laws of the U.S. or any state thereof, and (ii) is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business.

Conduit Bank means any special purpose corporation organized and administered by any Bank for the purpose of making Loans hereunder otherwise required to be made by such Bank and designated by such Bank in a written instrument, subject to the consent of the Agent and the Borrower (which, in each case, shall not be unreasonably withheld or delayed); provided that the designation by any Bank of a Conduit Bank shall not relieve the designating Bank of any of its obligations to fund a Loan under the Agreement if, for any reason, its Conduit Bank fails to fund any such Loan, and the designating Bank (and not the Conduit Bank) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Bank, and provided further that no Conduit Bank shall be entitled to receive any greater amount pursuant to Section 8.03, 8.04 or

Conduit Bank means any special purpose corporation organized and administered by any Bank for the purpose of making Term Loans hereunder otherwise required to be made by such Bank and designated by such Bank, subject to the consent of, and pursuant to a written instrument in form and substance satisfactory to, the Administrative Agent and the Company; provided, that the designation by any Bank of a Conduit Bank shall not relieve the designating Bank of any of its obligations to fund a Term Loan under this Agreement if, for any reason, its Conduit Bank fails to fund any such Term Loan, and the designating Bank (and not the Conduit Bank) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Bank, provided, further, that no Conduit Bank shall (a) be entitled to receive any greater amount pursuant to Section 3.15, 9.1, 9.3 or 11.3 than the designating Bank would have been entitled to receive in respect of the extensions of credit made by such Conduit Bank or (b) be deemed to have any Commitment hereunder, and provided, further, that the designating Bank shall act as administrative agent for its Conduit Bank and give and receive notices on its Conduit Bank's behalf, any payments for the account of its Conduit Bank shall be paid to the designating Bank as administrative agent for its Conduit Bank and neither the Company nor the Administrative Agent shall be responsible for such designating Bank's application of such payments.