Excluded Securities Account shall have the meaning assigned to it in the Security Agreement.
Excluded Securities Account means any (x) securities account the securities entitlements in which consist solely of (a) securities entitlements held by Holdings, the Borrower or any Restricted Subsidiary in trust for any director, officer or employee of Holdings, the Borrower or any Restricted Subsidiary or any employee benefit plan maintained by Holdings, the Borrower or any Restricted Subsidiary or (b) securities entitlements representing deferred compensation for the directors and employees of Holdings, the Borrower or any Restricted Subsidiary and (y) securities account held in any Specified Collateral Jurisdiction other than the United States for which a Control Agreement is not required pursuant to the Guaranty and Security Principles.
Excluded Securities Account means any securities account the securities entitlements in which consist solely of (a) securities entitlements held by the Company or any Subsidiary Loan Party in trust for any director, officer or employee of the Company or any Subsidiary Loan Party or any employee benefit plan maintained by the Company or any Subsidiary Loan Party or (b) securities entitlements representing deferred compensation for the directors and employees of the Company and the Subsidiary Loan Parties.
Examples of Excluded Securities Account in a sentence
No Grantor shall grant Control over any Securities Account (other than an Excluded Securities Account) to any person other than the Collateral Agent, and to the extent also granted to the Collateral Agent, Pre- Petition First Lien Agent or Pre-Petition Second Lien Agent.
Upon such Grantor opening any Securities Account (other than an Excluded Securities Account) or any Securities Account of such Grantor ceasing to be an Excluded Securities Account, within 60 days thereof (subject to extension by the Administrative Agent in its sole discretion) enter into a Securities Account Control Agreement with the Administrative Agent in order to give the Administrative Agent control (as such term is defined in Section 8-106 of Article 8 of the UCC) of such Securities Account.
More Definitions of Excluded Securities Account
Excluded Securities Account means any securities account the securities entitlements in which consist solely of (a) securities entitlements held by Xxxxxx USA or any Subsidiary in trust for any director, officer or employee of Xxxxxx USA or any Subsidiary or any employee benefit plan maintained by Xxxxxx USA or any Subsidiary or (b) securities entitlements representing deferred compensation for the directors and employees of Xxxxxx USA and the Subsidiaries.
Excluded Securities Account means one or more deposit or securities accounts maintained by either Loan Party with any bank or securities intermediary that is, or that the Borrower determines could be, a counterparty to one or more Specified Hedging Agreements with the Borrower or any Subsidiary; provided that the net book value of the cash, securities and other property maintained in all such deposit or securities accounts shall not at any time exceed $75,000,000.
Excluded Securities Account means (a) any Securities Account the securities entitlements in which are used solely for the payment of salaries and wages, workers’ compensation, employee benefit plans (including funds held by the Parent Borrower or any Subsidiary in trust for any director, officer or employee of the Parent Borrower or any Subsidiary with respect thereto) or health benefit obligations and similar expenses (including payroll Taxes) in the ordinary course of business, and (b) any Securities Account established by a Loan Party with a balance that does not exceed at any time (i) $5,000,000, when aggregated with the amounts on deposit in all other Securities Accounts that are subject to this clause (b), plus all amounts held in Deposit Accounts excluded pursuant to clause (d) of the definition of “Excluded Deposit Accounts” or (ii) $2,000,000, individually.
Excluded Securities Account means (a) any securities account the funds in which are used solely for the payment of salaries and wages, workers’ compensation and similar expenses in the ordinary course of business, (b) [reserved] and (c) any securities account the funds or assets in which consist solely of (i) funds or assets held by Holdings, the Borrowers or any Restricted Subsidiary in trust for any director, officer or employee of Holdings, the Borrowers or any Restricted Subsidiary or any employee benefit plan maintained by Holdings, the Borrowers or any Restricted Subsidiary or (ii) funds or assets representing deferred compensation for the directors and employees of Holdings, the Borrowers or any Restricted Subsidiary.
Excluded Securities Account means (a) any securities account the funds in which are used solely for the payment of salaries and wages, workers’ compensation and similar expenses in the ordinary course of business and (b) any securities account the funds or assets in which consist solely of (i) funds or assets held by Holdings, the Borrower or any Restricted Subsidiary in trust for any director, officer or employee of Holdings, the Borrower or any Restricted Subsidiary or any employee benefit plan maintained by Holdings, the Borrower or any Restricted Subsidiary or (ii) funds or assets representing deferred compensation for the directors and employees of Holdings, the Borrower or any Restricted Subsidiary.
Excluded Securities Account a Securities Account with a balance of less than $1,000,000.
Excluded Securities Account means Securities Accounts (within the meaning of the Uniform Commercial Code) identified in writing to the Administrative Agent on either the Third Amendment Effective Date or within 15 Business Days of such Securities Account being opened; provided that the Securities Accounts so identified shall not have a balance, in the aggregate, at any time greater than $10,000,000.