Control Bank definition

Control Bank means Citibank, N.A.

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Control Bank means JPMorgan Chase Bank, N.A., or another bank acceptable to Lender.

Control Bank means a depositary bank appointed by Buyer and Seller to act as control bank under this Agreement.

Examples of Control Bank in a sentence

• After Bank receives a Notice of Exclusive Control, Bank will notify Creditor not less than thirty (30) calendar days prior to closing the Deposit Account in non-emergency circumstances and substantially contemporaneously with closing the Deposit Account in emergency circumstances (for example, in response to fraud or returned items), unless prohibited by law.

• In the event that any Default or Event of Default is in existence, Buyer shall be entitled to retain all Income, or shall direct the Control Bank on the applicable Repurchase Date, to apply such Income on deposit in the Collection Account.

• The control agreement will (i) require Borrower to cause all rental payments from tenants of the Property to be made directly to the Control Bank and deposited directly into the Control Accounts, and (ii) with respect to any rental payment inadvertently deposited into Borrowers’ account at Bank, require Bank to sweep from the account, on a daily basis, all deposits made into the accounts from the Facility, and wire the same to Lender.

• Lender will open two accounts with the Control Bank (the “Control Account”) and will deposit all swept funds into the Control Account for use in accordance with the Control Agreement.

• If Executive is actively employed by Bank at the time of a Change of Control, Bank shall pay to Executive the benefit described in Section 2.1.

More Definitions of Control Bank

Control Bank means U.S. Bank National Association or any other bank reasonably acceptable to Administrative Agent.

Control Bank means as of the date hereof, PNC Bank, N.A., so long as it satisfies the Rating Criteria, or any other bank designated by Lender and reasonably acceptable to Borrower that satisfies the Rating Criteria.

Control Bank means with respect to the Collection Account, the Paying Agent, or any other bank reasonably acceptable to Lender.

Control Bank means U.S. Bank National Association.

Control Bank means City National Bank, or its successors and permitted assigns, or any successor depositary bank appointed by Buyer and Sellers to act as control bank under this Agreement.

Control Bank has the meaning specified in Section 5.01(j).

Control Bank means (i) Wachovia Bank, National Association and its successors thereto, or (ii) such other bank as may be mutually acceptable among Sellers and Buyers.