Examples of Eligible Financial Institution in a sentence
Any such successor entity must also qualify at the time of the transaction as an Eligible Financial Institution unless prior written approval of the Investor is obtained.
There shall at all times be a Trustee hereunder which shall (a) be a depository institution, banking corporation or trust company organized and doing business under the laws of the United States of America or of any state, authorized under such laws to exercise corporate trust powers and (b) meet the requirements of an Eligible Financial Institution.
If the bank with which the Collection Account is maintained ceases to be an Eligible Financial Institution, the Trustee shall transfer the Collection Account to an account maintained with an Eligible Financial Institution selected by the Issuer (unless an Event of Default shall have occurred and not been waived, in which case, such Eligible Financial Institution shall be selected by the Trustee).
If checks or certificates representing shares of AFN common stock are to be payable to the order of or registered in other than exactly the name(s) that appear(s) on the books and records of Cohen, the signature(s) appearing on this Election Form must be guaranteed by an Eligible Financial Institution or broker who is a member/participant in a Medallion Program approved by the Securities Transfer Association, Inc.
The Issuer shall establish with the Trustee and the Trustee shall maintain a segregated trust account (the “Renewal Reserve Account”), which shall be in the name of the Trustee “as trustee on behalf of the Holders of the IP Holdings LLC Asset-Backed Notes,” and which shall be in an Eligible Financial Institution, for the receipt of funds deposited into the Renewal Reserve Account.