Controlled Account Bank definition

Controlled Account Bank has the meaning specified therefor in Section 7(k).

Controlled Account Bank means each bank with whom Deposit Accounts are maintained in which any funds of any of the Loan Parties are concentrated and with whom a Control Agreement has been, or is required to be, executed in accordance with the terms hereof.

Controlled Account Bank means the bank or other financial institution holding the Controlled Account.

Examples of Controlled Account Bank in a sentence

• Each Control Agreement with respect to a Controlled Deposit Account shall require that the Controlled Account Bank transfer all cash receipts and other collections by ACH or wire transfer no less frequently than daily (and whether or not there are then any outstanding Obligations) to the concentration account maintained by the Administrative Agent at BMO (the “Concentration Account”).

• Concurrently with or prior to the opening of any Deposit Account, Securities Account or Commodity Account by any Loan Party, other than any Excluded Deposit Account, such Loan Party shall deliver to the Administrative Agent a Control Agreement covering such Deposit Account, Securities Account or Commodity Account, duly executed by such Loan Party, the Administrative Agent and the applicable Controlled Account Bank, securities intermediary or financial institution at which such account is maintained.

More Definitions of Controlled Account Bank

Controlled Account Bank shall have the meaning set forth in Section 6(i) of this Agreement.

Controlled Account Bank means each bank with whom Deposit Accounts are maintained in which any funds of any of the Loan Parties are maintained and with whom a Control Agreement has been, or is required to be, executed in accordance with the terms hereof.

Controlled Account Bank shall have the meaning set forth in Section 4.8(h).

Controlled Account Bank means Deutsche Bank Trust Company Americas.

Controlled Account Bank means Xxxxx Fargo Bank, N.A.

Controlled Account Bank has the meaning specified therefor in Section 7(j).

Controlled Account Bank has the meaning specified therefor in Section 5.17(a) of the Agreement.