Covered Party definition

Covered Party means any party to this Agreement that is one of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §47.3(b), or any subsidiary of such a covered bank to which 12 C.F.R. Part 47 applies in accordance with 12 C.F.R. §47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §382.2(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Covered Party has the meaning assigned to it in Section 9.21.

Covered Party has the meaning assigned to such term in Section 12.19.

Examples of Covered Party in a sentence

• Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Holder shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

• After a BHC Affiliate of a Covered Party has become subject to Insolvency Proceedings, if any party to this Agreement seeks to exercise any Default Right against such Covered Party with respect to this Agreement, the party seeking to exercise a Default Right shall have the burden of proof, by clear and convincing evidence, that the exercise of such Default Right is permitted hereunder.

• Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

More Definitions of Covered Party

Covered Party has the meaning given such term in Section 10.25.

Covered Party has the meaning specified in Section 10.20.

Covered Party shall have the meaning provided in Section 13.24(b).

Covered Party as defined in Section 10.19.

Covered Party has the meaning specified in Section 11.14(a).

Covered Party has the meaning specified therefor in Section 17.15 of this Agreement.

Covered Party shall have the meaning set forth in Section 10.21.