Liquidation Account definition

Liquidation Account means the account established by the Resulting Stock Holding Company representing the liquidation interests received by Eligible Account Holders and Supplemental Eligible Account Holders in exchange for their interest in the Mutual Holding Company in connection with the Conversion and Reorganization in accordance with Section 15 hereof.

Liquidation Account means that certain bank account numbered 000-000-0 maintained at BMO Xxxxxx Bank in Chicago, Illinois or such other account at such other bank approved by the Agent, with the Purchasers and their respective Purchaser Agents receiving notice that such account is maintained at such bank, in either case, which is in the name of “Liquidation Account, Bank of Montreal as Agent,” and pledged, on a first-priority basis, by the Seller to the Agent pursuant to Section 1.2(d).

Liquidation Account means the account established by the Bank representing the liquidation interests received by Eligible Account Holders and Supplemental Eligible Account Holders in exchange for their interests in the Bank immediately prior to the Conversion, as set forth in Section 15 hereof.

Examples of Liquidation Account in a sentence

• In such transactions, the Liquidation Account shall be assumed by the surviving institution.

• It is more likely than not that the fair market value of the benefit provided by the Bank Liquidation Account supporting the payment of the Liquidation Account in the event the Holding Company lacks sufficient net assets is zero.

• Each Eligible Account Holder and Supplemental Eligible Account Holder shall, with respect to his Deposit Account, hold a related inchoate interest in a portion of the Liquidation Account balance, in relation to his Deposit Account balance at the Eligibility Record Date or Supplemental Eligibility Record Date, respectively, or to such balance as it may be subsequently reduced, as hereinafter provided.

• Following the Conversion, the Liquidation Account will be maintained by the Bank for the benefit of the Eligible Account Holders and Supplemental Eligible Account Holders who continue to maintain their Deposit Accounts at the Bank.

• In any such transaction, the Liquidation Account or Bank Liquidation Account, as applicable, shall be assumed by the surviving entity.

More Definitions of Liquidation Account

Liquidation Account means that certain bank account numbered [*] and pledged, on a first-priority basis, by the Seller to the Agent pursuant to SECTION 1.2(d).

Liquidation Account means an account that represents the potential interest of

Liquidation Account is defined in Section 6.1.

Liquidation Account means the account established pursuant to Section 14.1 of the Plan.

Liquidation Account means the Co-operative Societies Liquidation Account established by rule 49;

Liquidation Account means an Eligible Account maintained by the Collateral Agent which shall be held in the name of the Collateral Agent, and entitled the "GSLP Offshore Investment Fund A, L.P. Secured Parties Liquidation Account" established on the Issue Date until the Pledge Agreement shall terminate.

Liquidation Account means that certain bank account numbered 181-446-6 maintained at BMO Harris Bank in Chicago, Illinois or such other account at such other bank approved by the Agent, with the Purchasers and their respective Purchaser Agents receiving notice that such account is maintained at such bank, in either case, which is in the name of “Liquidation Account, Bank of Montreal as Agent,” and pledged, on a first-priority basis, by the Seller to the Agent pursuant to Section 1.2(d) .