Examples of Deposit Account Bank in a sentence
Each of the Operating Account and each Other Operating Account shall at all times be maintained with a single Deposit Account Bank.
If this Agreement or the appointment of the Deposit Account Bank is terminated, the Deposit Account Bank shall take reasonable steps to assist the other parties to this Agreement in effecting an orderly termination of the banking arrangements provided for in this Agreement, including arranging the transfer of any cash in the Issuer Accounts to new accounts.
To the extent it is the Issuer represents and warrants that it is not a consumer, micro-enterprise as defined in the Regulations and undertakes to notify the Deposit Account Bank promptly if at any time it becomes a consumer or micro- enterprise or charity.
However, until the Deposit Account Bank actually receives any replacement or updated Mandate, the Deposit Account Bank may rely upon, and shall incur no liability for relying upon, each original Mandate.
On each date on which interest is paid into or debited from (as the case may be) the relevant Issuer Account, the Deposit Account Bank will notify the Cash Manager of the total amount of interest so paid.