Depositary Bank definition

Depositary Bank means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter.

Depositary Bank means a bank at which a Controlled Deposit Account is maintained.

Depositary Bank means the first bank to which a check is transferred even though it is also the paying bank or the payee. A check deposited in an account is deemed to be transferred to the bank holding the account into which the check is deposited, even though the check is physically received and indorsed first by another bank.

Examples of Depositary Bank in a sentence

• Where there is a title transfer, the collateral received should be held by the Depositary Bank.

• The Depositary shall act honestly, fairly, professionally, independently and solely in the interests of the Fund and the Shareholders in the execution of its duties under the law and the Depositary Bank and Principal Paying Agent Agreement.

• The SICAV and the Depositary may terminate the Depositary Bank Agreement at any time with written notice of ninety (90) days.

• CACEIS Bank, Luxembourg Branch acts as the depositary of the SICAV ("Depositary") in accordance with a depositary bank agreement for an unlimited term as amended from time to time ("Depositary Bank Agreement") and with the relevant provisions of the Law and applicable regulations.

• The Management Company acting on behalf of the Fund may release the Depositary Bank from its duties with ninety (90) days written notice to the Depositary Bank.

More Definitions of Depositary Bank

Depositary Bank means a bank at which a deposit account of any Grantor is maintained.

Depositary Bank shall have the meaning provided in Section 3.9.

Depositary Bank means the depositary bank under the Deposit Account Agreement.

Depositary Bank has the meaning specified in Section 5.3(f) and shall initially be Wilmington Trust, National Association.

Depositary Bank shall have the meaning set forth in the Security Agreement.

Depositary Bank shall have the meaning given to such term in the Deposit and Disbursement Agreement.

Depositary Bank has the meaning given such term in the preamble hereto.