- 4 -
1985 of approximately �800 million and in 1986 of approximately
�2 billion.
Substantially all of the banking needs of Intergraph and of
its domestic and foreign subsidiaries were provided by Citicorp,
Inc. (Citicorp), and by Citicorp's banking and financial
subsidiaries. Intergraph’s banking relationship with Citicorp
was maintained primarily through Citicorp North America's2 office
located in Atlanta, Georgia (Citicorp Atlanta). Nihon
Intergraph's banking relationship was maintained primarily
through Citibank, N.A.3
On June 7, 1985, representatives of Nihon Intergraph entered
into an overdraft agreement (Overdraft Agreement) with
representatives of the Tokyo office of Citibank, N.A. (Citibank
Tokyo). Under the terms of the Overdraft Agreement, Nihon
Intergraph was permitted to overdraw its yen-denominated checking
account that was established at Citibank Tokyo by up to �300
million. This �300 million ceiling on the amount of the
overdraft was not tied to or further limited by the dollar-yen
exchange rate.
This overdraft privilege on Nihon Intergraph's checking
account with Citibank Tokyo was intended to provide a short-term
source of operating funds for Nihon Intergraph in the event Nihon
22 Citicorp North America, Inc., is a subsidiary of Citicorp.
33 Citibank, N.A., is a subsidiary of Citicorp.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011