Existing bank definition

Existing bank means a bank or national banking association that is a party to a consolidation agreement and is engaged in the business of banking before the consolidation or merger provided for in the consolidation agreement.
Existing bank means a savings bank, national banking association, or state chartered bank engaged in the business of banking prior to the consolidation under this section.
Existing bank means a bank engaged in the business of banking before the consolidation provided in this section.

Examples of Existing bank in a sentence

  • As security for the payment when due of the Secured Obligations the Pledgor, as the case may be in advance, hereby grants to the Pledgee a right of pledge over its Collateral owing to it from time to time by an Existing Bank.

More Definitions of Existing bank

Existing bank is defined in Section 2.24(c).
Existing bank has the meaning specified in Section 2.19(c).
Existing bank means each Person which was a Bank under, and as defined in, the Second Amended and Restated Credit Agreement.
Existing bank means a banking company specified in column 1 of the First Schedule, being a company the deposits of which, as shown in the return as on the last Friday of June, 1969, furnished to the Reserve Bank under section 27 of the Banking Regulation Act, 1949 (10 of 1949), were not less than rupees fifty crores;
Existing bank has the meaning ascribed to such term in Section 2.14(e) hereof.
Existing bank means each Bank which is a party to both the Existing Credit Agreement and this Agreement.