Depositary Bank means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter.
Depositary Bank means a bank at which a Controlled Deposit Account is maintained.
Depositary Bank means the first bank to which a check is transferred even though it is also the paying bank or the payee. A check deposited in an account is deemed to be transferred to the bank holding the account into which the check is deposited, even though the check is physically received and indorsed first by another bank.
Examples of Depositary Bank in a sentence
If the check is a substitute check, the paying bank shall place this information within the image of the original check that ap- pears on the front of the substitute check.(e) Depositary bank without accounts.
More Definitions of Depositary Bank
Depositary Bank shall have the meaning provided in Section 3.9.
Depositary Bank means a bank at which a deposit account of any Grantor is maintained.
Depositary Bank means the depositary bank under the Deposit Account Agreement.
Depositary Bank has the meaning specified in Section 5.3(f) and shall initially be Wilmington Trust, National Association.
Depositary Bank shall have the meaning set forth in the Security and Account Control Agreement.
Depositary Bank shall have the meaning given to such term in the Deposit and Disbursement Agreement.
Depositary Bank has the meaning given such term in the preamble hereto.