Depository Institution Subsidiary definition

Depository Institution Subsidiary means any Subsidiary of the Corporation that is a depository institution within the meaning of 12 C.F.R. § 204.2(m).

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Depository Institution Subsidiary means any Subsidiary of Borrower that is a depository institution having as its primary federal regulator the FRB, OCC or FDIC. Dollar and the sign “$” mean lawful money of the United States of America.

Examples of Depository Institution Subsidiary in a sentence

Any Depository Institution Subsidiary is notified that it is considered an institution in “troubled condition” within the meaning of 12 U.S.C. Section 1831i and the regulations promulgated thereunder, or if a conservator or receiver is appointed for the Depository Institution Subsidiary.
As soon as the reports contemplated by this Section are filed with the applicable federal bank regulatory agencies, but in any event not more than forty five (45) days after the close of each quarterly period of each fiscal year of each Depository Institution Subsidiary, or within such further time as Lender may permit, the Call Reports filed by each Depository Institution Subsidiary with federal bank regulatory agencies.
The deposit accounts of each Depository Institution Subsidiary are insured by the FDIC.
In the event the Borrower forms or acquires any other Depository Institution Subsidiary at any time during the term of this Agreement, the Negative Pledge shall automatically extend to one hundred percent (100%) of the issued and outstanding capital stock of such Subsidiary and the Borrower shall not enter into a negative pledge with respect to such stock with any other Person.
Each Depository Institution Subsidiary has complied with all laws and regulations relating to the extension of credit.
Promptly when available and in any event within forty five (45) days after the end of each Fiscal Quarter, Watch List Reports of any subject credits for each Depository Institution Subsidiary all such reports understood to be unaudited and in the form presented to such Depository Institution Subsidiary’s board of directors.
There has been no material adverse change in the business, condition or operations (financial or otherwise) of the Borrower and each Depository Institution Subsidiary taken as a whole since the date of the call report and the financial statements referred to above.

More Definitions of Depository Institution Subsidiary

Depository Institution Subsidiary means any Subsidiary of the Corporation that is a depository institution within the meaning of 12 C.F.R. § 204.2(m). “Distribution Date” means, as to any Qualifying Capital Securities or Debt Exchangeable for Preferred Equity, the dates on which Distributions on such securities are scheduled to be made. “Distribution Period” means, as to any Qualifying Capital Securities, each period from and including a Distribution Date for such securities to but not including the next succeeding Distribution Date for such securities. “Distributions” means, as to any Qualifying Capital Securities or Debt Exchangeable for Preferred Equity, dividends, interest or other income distributions to the holders thereof that are not Subsidiaries of the Corporation. “Eligible Debt” means, at any time, Eligible Subordinated Debt or, if no Eligible Subordinated Debt is then outstanding, Eligible Senior Debt. “Eligible Senior Debt” means, at any time in respect of any issuer, each series of outstanding unsecured long-term indebtedness for money borrowed of such issuer that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks most senior among the issuer’s then outstanding classes of indebtedness for money borrowed, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding senior long-term indebtedness for money borrowed that satisfies the requirements of clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents, and (e) if issued by a Depository Institution Subsidiary, is fully and unconditionally guaranteed by the Corporation on (I) a subordinated basis or (II) if on the relevant Redesignation Date there is no outstanding debt of a Depository Institution Subsidiary meeting the other requirements set forth above and guaranteed by the Corporation on a subordinated basis but there is outstanding debt of a Depository Institution Subsidiary meeting such requirements and guaranteed on a senior basis, a senior basis. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is ...

Depository Institution Subsidiary. CNB and any federal or state chartered banking institution in which all of the Capital Stock is owned, directly or indirectly by the Borrower.

Depository Institution Subsidiary means FNBT, CNB and any other future Subsidiary of Borrower which is a banking/depository institution.

Depository Institution Subsidiary means Bank and any other institution that holds deposits insured by the FDIC and becomes a Subsidiary of the Borrower after the date hereof.