Offshore Deposits definition

Offshore Deposits means deposit or investment accounts maintained with a branch or office located outside of the United States of any bank, broker-dealer, investment bank or other similar entity, including dollar-based deposits or investments.
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Examples of Offshore Deposits in a sentence

  • Interest earned on PNC Bank Offshore Deposits will be credited to the DDA on the second Business Day of the following month.

  • PNC Bank Offshore Deposits are maintained within the Bank’s Nassau, Bahamas branch and payment thereof may be demanded only at that office.

  • All Excess Funds in PNC Bank Offshore Deposits will be returned to the DDA at the beginning of the next Business Day.

  • During the term of this Working Cash Sweep Rider, the following instructions from Borrower to Bank shall apply to transfers of assets by the Bank from the Borrower’s checking account (the “DDA”) listed on the Schedule set forth at the end of this Working Cash Sweep Rider (the “Schedule”) to the investment option selected by Borrower from time to time (the “Investment”), currently either investment in a money market mutual fund (“Mutual Fund”) or in PNC Bank Offshore Deposits (as hereinafter defined).

  • The Investment is neither insured nor guaranteed by the U.S. Government and in the event of the Bank’s liquidation, the portion of the Investment in PNC Bank Offshore Deposits would be treated as unsecured, non-deposit liabilities.

  • During the term of this Working Cash Sweep Rider, the following instructions from Borrower to Bank shall apply to transfers of assets by the Bank from the Borrower's checking account (the “DDA”) listed on the Schedule set forth at the end of this Working Cash Sweep Rider (the “Schedule”) to the investment option selected by Borrower from time to time (the “Investment”), if any, currently either the Money Market Mutual Fund or the PNC Bank Offshore Deposits.