ABL Account definition

ABL Account means, as of any date of determination, all “accounts” (as such term is defined in the UCC) of the Company and including the unpaid portion of the obligation of a customer of the Company in respect of inventory purchased by and shipped to such customer and/or the rendition of services by the Company, as stated on the respective invoice of the Company.
View Source
ABL Account means, as of any date of determination, all “accounts” (as such term is defined in the UCC) of the Company and including the unpaid portion of the obligation of a customer of the Company in respect of inventory purchased by and shipped to such customer and/or the rendition of services by the Company, as stated on the respective invoice of the Company.
View Source

Examples of ABL Account in a sentence

  • Each Pledgor covenants that it will cause all the earnings and other moneys received by such Pledgor in respect of Collateral Vessels paid over promptly to a Specified ABL Account.

  • A Seller may designate an Account entered into in connection with the Asset Based Lending Business as a Designated ABL Account in the related Assignment, and shall indicate in the related Account Schedule the Sold Percentage for each such Designated ABL Account.

  • Schedule 12(a) hereto sets forth all Deposit Accounts maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account, the name of each entity that holds each account and whether such account constitutes a Specified ABL Account, a Controlled Account or a Non-Controlled Account.

  • Schedule 12(b) hereto sets forth all Securities Accounts and Commodity Accounts maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account, the name of each entity that holds each account and whether such account constitutes a Specified ABL Account, a Controlled Account or a Non-Controlled Account.

  • All amounts received by any Restricted Party in respect of any account of an account debtor of any Restricted Party shall upon receipt be deposited into a Specified ABL Account.

  • Schedule 12(a) hereto sets forth all Deposit Accounts maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account, the name of each entity that holds each account and whether such account constitutes a Controlled Specified ABL Account.

  • Each Restricted Party shall instruct all account debtors of such Restricted Party to remit all payments in Dollars to the appropriate Specified ABL Account.

  • Schedule 12(b) hereto sets forth all Securities Accounts and Commodity Accounts maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account, the name of each entity that holds each account and whether such account constitutes a Controlled Specified ABL Account.

  • Each Pledgor shall comply with the provisions of Section 5.14 of the Credit Agreement with respect to each Specified ABL Account.

  • Except to the extent permitted by the immediately preceding two sentences with respect to the respective periods set forth therein, the Borrowers and the Subsidiary Guarantors shall not establish or maintain any Specified ABL Account unless a Deposit Account Control Agreement or a Securities Account Control Agreement, as applicable, has been entered into or such Specified ABL Account is a Non-Controlled Account.