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
In addition, the Collateral Agent hereby agrees (at the direction of the Administrative Agent) to instruct (or to instruct the Collateral Trustee to instruct) the Depositary Bank to release and pay to the Borrower amounts (if any) remaining on deposit in the Term C Collateral Accounts after the termination or cancellation of all Term Letters of Credit, the termination of the Term L/C Commitment and the repayment in full of all outstanding Term C Loans and Term L/C Obligations.
More Definitions of Depositary Bank
Depositary Bank means a bank at which a deposit account of any Grantor is maintained.
Depositary Bank shall have the meaning provided in Section 3.9.
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 Agreement.
Depositary Bank shall have the meaning given to such term in the Deposit and Disbursement Agreement.
Depositary Bank means an account bank at which Borrower maintains any Collateral Account.