Impacted Bank definition

Impacted Bank means any Bank that fails promptly to provide the Administrative Agent, upon the Administrative Agent’s reasonable request therefor, reasonably satisfactory assurance that such Bank will not become a Defaulting Bank.
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Impacted Bank means (a) a Defaulting Bank or (b) a Bank (i) as to which the Agent, any Issuing Bank, and/or the Swing Line Lender, has a good faith belief that such Bank has defaulted in fulfilling its obligations under one or more other syndicated credit facilities (unless such failure is the subject of a good faith dispute or unless such failure has been cured, in each case as evidenced, in form and substance satisfactory to the Agent, such Issuing Bank and/or the Swing Line Lender, by the applicable Bank), (ii) that has since the date of this Agreement been deemed insolvent by an Official Body or become the subject of a bankruptcy, receivership, conservatorship or insolvency proceeding, or has a parent company that since the date of this Agreement been deemed insolvent by an Official Body or become the subject of a bankruptcy, receivership, conservatorship or insolvency proceeding, and/or (iii) as to which the Agent has a good faith belief that such Bank is subject to a Bail-In Action.
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Impacted Bank means any Bank that fails promptly to provide Administrative Agent, upon Administrative Agent’s reasonable request therefor, reasonably satisfactory assurance that such Bank will not become a Defaulting Bank.
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Examples of Impacted Bank in a sentence

  • Each Impacted Bank hereby authorizes the Agent to distribute such payments to the Banks that are not Impacted Banks in proportion to their respective Pro Rata Share of all outstanding Loans and other unpaid Indebtedness of any of the Loan Parties hereunder or under any other Loan Document to which such Banks are entitled.

  • The Agent agrees to promptly, but in any event not later than the end of the following Business Day, distribute to each Bank such Bank's Pro Rata Share of payments received by the Agent for the account of the Banks in immediately available funds (except as may otherwise be provided with respect to an Impacted Bank).

  • Notwithstanding the foregoing, an Impacted Bank shall be deemed to have assigned any and all payments due to it from the Borrower, whether on account of or relating to outstanding Loans, Letters of Credit, interest, fees or otherwise, to the remaining Banks that are not Impacted Banks for application to, and reduction of, their respective Pro Rata Share of all outstanding Loans and other unpaid Indebtedness of any of the Loan Parties hereunder or under any other Loan Document.

  • Any subsequent increase in the value of these investments is taken directly to surplus on revaluation of securities which is shown on the balance sheet below equity.

  • No transfer may be consummated pursuant to this Section 8.17(A) without the prior written consent of the Borrower (other than (i) a transfer by any Bank to another Bank (other than an Impacted Bank), (ii) a transfer by any Bank (other than an Impacted Bank) to any Affiliate of such Bank or (iii) a transfer occurring during the existence of an Event of Default or Potential Default), which consent of the Borrower shall not be unreasonably withheld, delayed or conditioned.

  • The Swing Line Bank may at any time and from time to time require that an Impacted Bank's obligations to acquire a participation in the Swing Line Loans be collateralized with immediately available funds provided by such Impacted Bank in an amount equal to such Impacted Bank's Revolving Loan Commitment Percentage of the then outstanding Swing Line Loans.

  • An Issuing Bank may at any time and from time to time require that an Impacted Bank's obligations to acquire a participation in all the Letters of Credit be collateralized with immediately available funds provided by such Impacted Bank in an amount equal to such Impacted Bank's Revolving Loan Commitment Percentage of the then outstanding Letter of Credit Liabilities.

  • The Acceptance Bank may at any time and from time to time require that an Impacted Bank's obligations to acquire a participation in all Acceptance Liability be collateralized with immediately available funds provided by such Impacted Bank in an amount equal to such Impacted Bank's Revolving Loan Commitment Percentage of the then outstanding Acceptance Liabilities.

  • Such deposit shall be held by the Agent as collateral for such Impacted Bank's participation interest in the outstanding Letter of Credit Liabilities and such Impacted Bank's other obligations hereunder and for this purposes such Impacted Bank grants a security interest to the Agent for the benefit of the Acceptance Bank and the Agent in such deposit.

  • Such deposit shall be held by the Agent as collateral for such Impacted Bank's participation interest in the outstanding Letters of Credit and such Impacted Bank's other obligations hereunder and for this purposes such Impacted Bank grants a security interest to the Agent for the benefit of the Issuing Banks and the Agent in such deposit.


More Definitions of Impacted Bank

Impacted Bank means (a) any Bank that is a Defaulting Bank and (b) any Bank as to which (i) the Borrower, the Administrative Agent or the Issuing Bank has a good faith belief that such Bank has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (ii) an entity that controls such Bank has been deemed insolvent or become subject to a bankruptcy or other similar proceeding.
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Impacted Bank means (a) a Defaulting Bank or (b) a Bank if its or its parent's senior unsecured debt rating has dropped below BBB+ by Standard & Poors or Baa1 by Moody's. Each Bank agrees to notify the Agent promptly if its or its parent's senior unsecured debt rating has dropped below BBB+ by Standard & Poors or Baa2 by Moody's.
Sample 1
Impacted Bank means (a) a Defaulting Bank or (b) a Bank (i) as to which the Agent, any Issuing Bank, and/or the Swing Line Lender, has a good faith belief that such Bank has defaulted in fulfilling its obligations under one or more other syndicated credit facilities and/or (ii) that has since the date of this Agreement been deemed insolvent by an Official Body or become the subject of a bankruptcy, receivership, conservatorship or insolvency proceeding, or has a parent company that since the date of this Agreement been deemed insolvent by an Official Body or become the subject of a bankruptcy, receivership, conservatorship or insolvency proceeding.
Sample 1
Impacted Bank means any Bank (a) that is a Defaulting Bank and (b) (i) that has notified Administrative Agent, the Letter of Credit Issuer or the Swing Line Bank that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations hereunder or under other agreements in which it commits to extend credit or (ii) as to which an entity that Controls such Bank has been deemed insolvent or become subject to a bankruptcy or insolvency proceeding. Administrative Agent shall endeavor to notify Borrower promptly upon Administrative Agent becoming aware of the existence of an Impacted Bank hereunder; provided, that Administrative Agent’s failure to provide such notice shall not be deemed to be a breach of this Agreement.
Sample 1
Impacted Bank means, at any time, any Bank, as determined by the Administrative Agent and the Company, that (a) is not a Defaulting Bank and (b) (i) has a long term senior unsecured indebtedness rating by S&P and/or Moody's less than BBB+ (if rated by S&P) and less than Baa1 (if rated by Moody's) or (ii) neither S&P nor Moody's maintains a long term senior unsecured indebtedness rating for such Bank.
Sample 1
Impacted Bank means (a) any Bank that is a Defaulting Bank and (b) any Bank as to which (i) the Administrative Agent, the Letter of Credit Issuer or the Swing Line Bank has a good faith belief that such Bank has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (ii) an entity that controls such Bank has been deemed insolvent or become subject to a bankruptcy or insolvency proceeding. The Administrative Agent shall endeavor to notify the Borrower promptly upon the Administrative Agent becoming aware of the existence of an Impacted Bank hereunder; provided, that the Administrative Agent’s failure to provide such notice shall not be deemed to be a breach of this Agreement.
Sample 1

Related to Impacted Bank

  • Impacted Lender means a Defaulting Lender or a Lender as to which (a) the Administrative Agent or L/C Issuer has a good faith belief that such Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (b) an entity that controls such Lender has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding.

  • Affected Bank has the meaning specified in Section 3.07.

  • Designated Bank means any bank designated by Lender as a Designated Bank, but only for as long as Lender has an agreement under which Lender receives Depository Benefits from that bank.

  • Approved Bank shall have the meaning set forth in the definition of “Cash Equivalents.”

  • Replaced Bank shall have the meaning provided in Section 1.13.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Exiting Lender see Section 2.17.7.

  • Departing Lender means each lender under the Existing Credit Agreement that executes and delivers to the Administrative Agent a Departing Lender Signature Page.

  • Defaulting Lender means any Lender with respect to which a Lender Default is in effect.

  • Impacted Loans has the meaning specified in Section 3.03.

  • Defaulting Bank means, at any time, subject to Section 2.18(d), (i) any Bank that has failed for two or more consecutive Business Days to comply with its obligations under this Agreement to make available its ratable portion of a Borrowing (each, a “funding obligation”), unless such Bank has notified the Agent and a Borrower in writing that such failure is the result of such Bank’s determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing), (ii) any Bank that has notified the Agent or a Borrower in writing, or has stated publicly, that it does not intend to comply with its funding obligations hereunder, unless such writing or statement states that such position is based on such Bank’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement), (iii) any Bank that has, for three or more Business Days after written request of the Agent or a Borrower, failed to confirm in writing to the Agent and the Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Bank shall cease to be a Defaulting Bank pursuant to this clause (iii) upon the Agent’s and the Borrowers’ receipt of such written confirmation), (iv) any Bank with respect to which a Bank Insolvency Event has occurred and is continuing with respect to such Bank or its Parent Company, or (v) any Bank that has become the subject of a Bail-In Action; provided that a Bank shall not be a Defaulting Bank solely by virtue of the ownership or acquisition of any equity interest in such Bank or its Parent Company by a Governmental Authority or an instrumentality thereof. Any determination by the Agent that a Bank is a Defaulting Bank under any of clauses (i) through (v) above will be conclusive and binding absent manifest error, and such Bank will be deemed to be a Defaulting Bank (subject to Section 2.18(d)) upon notification of such determination by the Agent to the Borrowers and the Banks. The Agent will promptly send to all parties hereto a copy of any notice to the Borrowers provided for in this definition.

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.

  • Extending Lender shall have the meaning assigned to such term in Section 2.21(e).

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Defaulting Lender Fronting Exposure means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Bank, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit obligations other than Letter of Credit obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof.

  • Continuing Lender as defined in Section 2.17(a).

  • PPP Lender means JPMorgan Chase Bank, N.A.

  • Regulated Bank means an Approved Commercial Bank that is (i) a U.S. depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board of Governors under 12 CFR part 211; (iv) a non-U.S. branch of a foreign bank managed and controlled by a U.S. branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank regulatory authority in any jurisdiction.

  • Conduit Lender any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment.

  • Bank is defined in the preamble hereof.

  • NAIC Approved Bank means a bank that is a bank listed on the most current “List of Qualified U.S. Financial Institutions” approved by the NAIC (the “NAIC Approved Bank List”) (or any branch or related entity of such bank that qualifies as a Qualified U.S. Financial Institution in accordance with the Purposes and Procedures Manual of the NAIC Investment Analysis Office).

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • Consenting Lender has the meaning specified in Section 2.19(b).

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.