EDC Account definition

EDC Account means an Account which is fully insured by export/import insurance provided by Export Development Canada and its successors and assigns.
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Examples of EDC Account in a sentence

  • The EDC Account shall bear annual interest equal to the one year treasury note constant maturity interest rate published by the Federal Home Loan Bank in effect on January 1 of each year (constant one year U.S. Treasury Index per FRB H15).

  • Executive shall be entitled to receive the accrued balance in his EDC Account upon any termination of his employment other than upon death.

  • The Corporation may purchase life insurance to fund all or part of the above EDC Account and Executive shall execute all reasonable insurance applications to facilitate such purchase provided, however, Executive shall have no right, title or interest in such insurance or in the EDC Account, unless otherwise provided by the Corporation.

  • Notwithstanding the preceding sentence, in the event the death benefit receivable by the beneficiary is less than the accrued balance in the EDC Account of Executive, the beneficiary shall receive an additional amount equal to the difference between the EDC Account balance and the death benefit receivable.

  • The sum of the above annual set aside, plus each prior year's set aside, shall be referred to as Executive's Deferred Compensation Account ("EDC Account").