UBOC definition
Examples of UBOC in a sentence
San Diego 263, FBO UBOC Corporate Trust NY; or such other address as shall be specified in writing by the party in question to the other parties hereto.
UBOC and its Affiliates may accept deposits from, lend money to, act as trustee under indentures of, and generally engage in any kind of business with, any Credit Party, any Subsidiary and any Person that may do business with or own securities of any Credit Party or any Subsidiary, all as if UBOC were not the Administrative Agent and without any duty to account therefor to the Lenders.
With respect to its Commitment, the Advances made by it, the Note issued to it and the Letters of Credit participated in by it, UBOC shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Administrative Agent; and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include UBOC in its individual capacity (including in its capacity as Issuing Bank).
The Agent is hereby authorized (but not obligated) to charge the account of the Borrower maintained with UBOC for each payment of principal, interest and fees as it becomes due hereunder.
In the event that any Lender fails to make available to the Agent for the account of UBOC the amount of such Reference Rate Advance, UBOC shall be entitled to recover such amount on demand from such Lender, together with interest thereon at the Federal Funds Rate.