Depository Institution definition

Depository Institution. Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

Depository Institution means any Entity that accepts deposits in the ordinary course of a banking or similar business.

Depository Institution. Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations (or, in the case of a depository institution that is the principal subsidiary of a holding company, such holding company has unsecured commercial paper or other short-term unsecured debt obligations) that are rated at least A-1+ by S&P, F-1+ by Fitch and P-1 by Xxxxx’x (or, if such Rating Agencies are no longer rating the Offered Certificates, comparable ratings by any other nationally recognized statistical rating agency then rating the Offered Certificates).

Examples of Depository Institution in a sentence

• Depositor hereby agrees to indemnify and hold harmless Depository Institution against any claims, liabilities, expenses or losses in any way arising out of or related to this Deposit Control Account Agreement (including reasonable attorneys' fees and out-of-pocket disbursements), except to the extent that the claims, liabilities, expenses or losses are caused by the gross negligence or willful misconduct of the Depository Institution.

• Prior to the date on which a Notice to Transfer Funds to Agent is received by Depository Institution from Agent, Agent directs Depository Institution to make transfers from the Deposit Account in accordance with the directions Depository Institution receives from Depositor.

• Depositor irrevocably authorizes and directs Depository Institution, and Depository Institution agrees, to comply with any written instructions given by Agent and received by Depository Institution, without further notice to, or consent from, Depositor, at any time, including in connection with the delivery to Depository Institution of a notice in substantially the form set forth in Exhibit A hereto ("Notice to Transfer Funds to Agent”).

• Depositor, Agent and Depository Institution are entering into this Deposit Control Account Agreement to perfect the above-mentioned security interest in the Collateral.

• Except as otherwise provided in “Waiver of Lien and Set-Off” (Section 7), Depository Institution will not advance any credit secured by any of the Collateral, directly or indirectly, to Depositor.

More Definitions of Depository Institution

Depository Institution means any of the following:

Depository Institution. Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations (or, in the case of a depository institution that is the principal subsidiary of a holding company, such holding company has unsecured commercial paper or other short-term unsecured debt obligations) that are rated at least P-1 by Xxxxx’x, F-1 by Fitch (if rated by Fitch) and A-1+ by S&P.

Depository Institution means a depository institution or trust company, incorporated under the laws of the United States or any State thereof, that is subject to supervision and examination by federal and/or State banking authorities.

Depository Institution means a bank, out-of-state bank, national bank, association, savings bank, cooperative bank, industrial bank, or credit union organized under the laws of this state, another state, the District of Columbia, the United States, or a territory or protectorate of the United States.

Depository Institution. Any depository institution or trust company, including the Trustee and the Trust Administrator, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has, or is a subsidiary of a holding company that has, an outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated in the highest rating category by at least two of the Rating Agencies (or a comparable rating if S&P, Fitch and Mxxxx’x are not the Rating Agencies).

Depository Institution means any entity that accepts deposits in the ordinary course of a banking or similar business.

Depository Institution. Any depository institution or trust company, including the Trustee and the Trust Administrator, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has, or is a subsidiary of a holding company that has, an outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated in the highest rating category (P-1 by Xxxxx’x, R-1 by DBRS and A-1 by S&P) by the Rating Agencies (or a comparable rating if S&P, Xxxxx’x and DBRS are not the Rating Agencies).