Primary Bank Clause Samples

Primary Bank. Maintain its primary operating accounts with the Lender.
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Primary Bank. Maintain a depository account with the Bank.
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Primary Bank. During the term of this Agreement, the Borrower shall designate FNBO as its primary bank and shall maintain its bank accounts with FNBO; PROVIDED, HOWEVER, that, at the sole discretion of FNBO, the Borrower may maintain an account with another bank or similar financial institution (a "Permitted Bank") that has agreed, in an agreement authenticated by the Borrower, FNBO and the Permitted Bank (an "Account Control Agreement"), to (i) comply with instructions originated by FNBO directing the disposition of funds in such account without the further consent of the Borrower and (ii) waive or subordinate in favor of FNBO all claims of the Permitted Bank, including, without limitation, claims by way of a security interest, lien or right of setoff or right of recoupment, to such account, which Account Control Agreement shall be in form and substance satisfactory to FNBO.
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Primary Bank. 1. All Employees who have a primary sick bank, as established by the previous Agreement may utilize this bank in any of the following ways: a. As sick leave, upon exhaustion of the secondary bank. When used as sick leave, each hour is paid at the Employee‟s current salary rate. b. All or part of the primary bank may be cashed out subject to the following limitations: (1) In accordance with mandatory buy-out plans covered under previous Agreements changes to the initial buy-out plan are subject to County funding. (2) The value of the time withdrawn shall be calculated at the value at the time of payout. (3) It shall be paid at eighty percent (80%) of its dollar value. (4) A maximum of seven thousand five hundred dollars ($7,500.00) per year may be withdrawn. Payment may be in cash or in the form of deferred compensation. (5) No portion of each payment may be included in final average compensation. c. Upon retirement or other termination the bank may be cashed out at current value subject to the following conditions: (1) For retirement, the amount paid shall equal seventy-five (75%) percent of its current value. (2) For termination, the amount paid shall equal fifty (50%) percent of its current value. (3) Upon death, the amount paid shall equal one hundred (100%) percent of its current value. d. This payment shall be included in final average compensation. e. No additional time may be credited to the primary bank. Once primary bank time is used, it may not be replaced.
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Primary Bank and Granite State each agree to conduct such investigation and discussions hereunder in a manner so as not to interfere unreasonably with normal operations and customer and employee relationships of the other party.
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Related to Primary Bank

  • Bank The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements, a copy of which is attached hereto.

  • The Bank 1. shall perform the duties imposed on the Bank under the Ordinance. 2. shall exercise reasonable care in the performance of its duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Bank; and 3. in the absence of bad faith on its part, may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Bank and conforming to the requirements of this Agreement, but in the case of any opinions which by any provision hereof are specifically required to be furnished to the Bank, shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement.

  • Deposit Insurance Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the applicable Fund deems necessary or appropriate to cause each deposit account established by the Custodian pursuant to this Section 2.21 to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Financial Institution The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.