Define: Restricted Account Bank

How is Restricted Account Bank defined in a legal contract?

• Restricted Account bank means a financial institution that is chosen or approved by the administrative agent and correlates to which the debtor has served an executed restricted account letter. Seen in 10 SEC filings.
• Restricted Account Bank means a financial institution opted or permitted by the administrative agent and corresponds to which a grantor has submitted an executed restricted account letter. Seen in 1 SEC filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of restricted account bank' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Restricted Account Bank means a selected or approved financial institution where a debtor or a grantor has delivered an executed restricted account letter.

Relevant Contract Types

• Loan Agreement
• Security Agreement
• Debt Restructuring Agreement

Relevant Circumstances

• Refinancing scenarios
• Debt restructuring cases
• When security is required against a loan

Relevant Sectors

• Banking
• Finance
• Real Estate
• Corporate sector

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