Negative Deposits definition

Negative Deposits means Deposit account overdrafts.
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Negative Deposits means: (i) Deposit account overdrafts of less than $10,000 in any one account; and (ii) Deposit account overdrafts less than fifteen (15) Business Days outstanding.
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Negative Deposits means overdrafts in Deposit Accounts which are not covered by Advance Lines, and any and all Accrued Interest on such Deposit Accounts, all as reflected on Seller’s general ledger as of the Effective Time.
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Examples of Negative Deposits in a sentence

  • If at the Closing Date there exists a negative balance in a Deposit Liability account (e.g., an overdraft), that account will be transferred to Purchaser and that negative balance will be netted against other positive balances in aggregating total Deposit Liabilities, but without duplication of any amounts included in the Negative Deposits.

  • Subject to the terms and conditions of this Agreement, from the Closing Date and thereafter, Purchaser shall assume, discharge and be solely responsible and liable for all liabilities and obligations with respect to the Deposit Accounts, the Safe Deposit Business, the Advance Lines and the Negative Deposits, the Branches, the Service Contracts and the Property, which collectively may be referred to herein as the “Assumed Liabilities“.

  • Subject to the terms and conditions of this Agreement, from the Closing Date and thereafter, Purchaser shall assume, discharge and be solely responsible and liable for all liabilities and obligations with respect to the Deposit Accounts, the Safe Deposit Business, the Advance Lines and the Negative Deposits, the Branches, the Service Contracts and the Property, which collectively may be referred to herein as the “Assumed Liabilities”.

  • Subject to the terms and conditions of this Agreement, from the date of Closing and thereafter, Purchaser shall assume, discharge and be solely responsible and liable for all liabilities and obligations with respect to the Deposit Accounts, the Advance Lines and the Negative Deposits, the Branches, the Service Contracts and the Property, which collectively may be referred to herein as the “Assumed Liabilities”.


More Definitions of Negative Deposits

Negative Deposits means Deposit account overdrafts. “Net Book Value” means the carrying value of each of the Assets as reflected on the books of Seller as of the Closing Date in accordance with GAAP and consistent with the accounting policies and practices of Seller in effect as of the date of this Agreement. “Non-Controlling Party” has the meaning set forth in Section 11.1(f). “Obligor” has the meaning set forth in Section 5.8(a)(i). “Order” has the meaning set forth in Section 9.1(b). “Owned Real Property” means Real Property owned by Seller and used for Branches. “P&A Transactions” means the purchase and sale of Assets and the assumption of Assumed Liabilities described in Sections 2.1, 2.2 and 2.3. “Permitted Encumbrances” means (i) liens for current Taxes that are not yet due or delinquent or are being contested in good faith by appropriate proceedings and for which adequate reserves have been taken on the financial statements for the Seller; (ii) statutory liens or landlords’, carriers’, warehousemen’s, mechanics’, suppliers’, materialmen’s, repairmen’s liens or other like liens arising in the ordinary course of business with respect to the applicable assets for amounts not yet overdue; (iii) with respect to the Real Property, any Encumbrances or other minor title defects or irregularities that do not, individually or in the aggregate, materially impair the value or the use of such Real Property as a commercial bank branch office as currently used; and (iv) as to any Branch Lease, any Encumbrance affecting solely the interest of the landlord thereunder and not the interest of the tenant thereunder, which does not materially and adversely affect the value of such Real Property or the use of such Real Property as a commercial bank branch office as currently used.
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Negative Deposits means overdrafts in Deposits which are not covered by Advance Lines, all as reflected on Seller’s general ledger as of the Closing Date.
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Negative Deposits means overdrafts in Deposit Liability accounts which are not covered by Advance Lines, plus any and all Accrued Interest thereon, all as set forth in FNB's general ledger immediately prior to the acquisition of the Cape Cod Business by Sovereign.
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Negative Deposits means Deposit account overdrafts other than the Deposit account overdrafts set forth in Schedule 1.1(b) of the Seller Disclosure Schedule. “Net Book Value” means the carrying value of each of the Assets as reflected on the books of Seller as of the Closing Date in accordance with GAAP and consistent with the accounting policies and practices of Seller in effect as of the date of this Agreement. “Non-Controlling Party” has the meaning set forth in Section 11.1(f). “Obligor” has the meaning set forth in Section 5.8(a)(i). “OCC” means the Office of the Comptroller of the Currency. “Order” has the meaning set forth in Section 9.1(b). “Owned Real Property” means Real Property owned by Seller and used for Branches. For avoidance of doubt, Real Property owned by Seller in connection with a Branch shall be Owned Real Property hereunder. “P&A Transaction” means the purchase and sale of Assets and the transfer and assumption of Assumed Liabilities described in Sections 2.1 and 2.2. “Permitted Encumbrances” means (t) matters disclosed on Schedule 1.1(c) of the Seller Disclosure Schedule, (u) Encumbrances which the Title Insurer agrees to omit, to provide affirmative insurance for, or to otherwise insure over at no additional cost to Purchaser, (v) statutory liens securing Taxes or other payments not yet due and payable, (w) easements, encroachments, rights of way and other Encumbrances, applicable zoning laws, and building restrictions, none of which materially and adversely affect the current use of the Real Property as a commercial bank branch office in the manner used by Seller, (x) the rights of landlords under any lease relating to the Real Property, (y) the rights of any tenants under written leases and (z) any other matters that, in the aggregate, would not reasonably be expected to have a Material Adverse Effect. “Person” means any individual, corporation, company, partnership (limited or general), limited liability company, joint venture, association, trust or other business entity.
Sample 1
Negative Deposits means overdrafts in Deposit Accounts which are not covered by Advance Lines, and any and all Accrued Interest on such Deposit Accounts, all as reflected on Seller's general ledger as of the Closing Date.
Sample 1
Negative Deposits means Deposit account overdrafts. “Non-Controlling Party” has the meaning set forth in Section 11.1(f). “Net Book Value” means the carrying value of each of the Assets as reflected on the books of Seller in accordance with GAAP and consistent with the accounting policies and practices of Seller in effect as of the date of this Agreement. “New Plans” means any employee benefit plans of Purchaser that provides benefits to any Transferred Employee after the Transfer Date. “Obligor” has the meaning set forth in Section 5.8(a)(i). “OCC” means the Office of the Comptroller of the Currency. “Order” has the meaning set forth in Section 9.1(b). “Owned Real Property” means Real Property owned by Seller and used for Branches. “P&A Transaction” means the purchase and sale of Assets and the assumption of Assumed Liabilities described in Sections 2.1 and 2.2. “Person” means any individual, corporation, company, partnership (limited or general), limited liability company, joint venture, association, trust or other business entity. “Personal Property” means the personal property goods of Seller located in the Branches, and used or held for use in the business or operation of the Branches, consisting of the trade fixtures, shelving, furniture, leasehold improvements, on-premises ATMs (excluding Seller licensed software, but including ATM hardware, alarm contacts, safe, cash canisters, security camera, KABA-MAS locks, ADA audio hardware, deposit automation hardware, keys and lock combinations), equipment, security systems equipment (but not including any connections or software relating thereto), safe deposit boxes (exclusive of contents), vaults and sign structures. Exhibit 1.1(g) contains an overview of the Personal Property as of July 31, 2013, and Exhibit 1.1(g) shall be updated by Seller to include a complete and accurate list of the Personal Property as of 5:00 p.m., Eastern time, on the date that is five (5) Business Days prior to the Closing Exhibit 99.3
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Related to Negative Deposits

  • Time Deposits means time deposits, certificates of deposit or similar arrangements with any bank or trust company, including the Trustee or an affiliate thereof, which is a member of the Federal Deposit Insurance Corporation.

  • Imposition Deposits are defined in Section 7(a).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Ineligible Account means an Account that at the time of determination is not an Eligible Account.

  • Special Deposits have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.