Approved Deposit Account definition

Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.
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Approved Deposit Account means each Deposit Account in respect of which a Loan Party shall have entered into a Deposit Account Control Agreement.
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Approved Deposit Account has the meaning specified in the Pledge and Security Agreement.
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Examples of Approved Deposit Account in a sentence

  • Except as otherwise permitted by the Credit Agreement, if required by Lender under the Credit Agreement, Grantor will (i) deposit in an Approved Deposit Account all cash and all Proceeds received by Grantor, and (ii) not establish or maintain any Deposit Account other than with a Deposit Account Bank.

  • Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to an Approved Deposit Account or a Dominion Account (or a lockbox relating to an Approved Deposit Account or a Dominion Account).

  • If any Obligor or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into an Approved Deposit Account or a Dominion Account.

  • Each Loan Party shall instruct all account debtors of such Loan Party to remit all payments in Dollars to the applicable “P.O. Boxes” or “Lockbox Addresses” of the applicable Deposit Account Bank (or to remit such payments to the applicable Deposit Account Bank by electronic settlement) with respect to all accounts of such account debtor, which remittances shall be collected by the applicable Deposit Account Bank and deposited into an Approved Deposit Account.

  • All amounts received by any Loan Party and any Deposit Account Bank in respect of any account of an account debtor of any Loan Party shall upon receipt be deposited into an Approved Deposit Account.


More Definitions of Approved Deposit Account

Approved Deposit Account includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.
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Approved Deposit Account means any deposit account of yours with us that is approved by us as accessible for transfers of funds through Online Banking;
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Approved Deposit Account has the meaning specified in the Bank Security Agreement.
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Approved Deposit Account shall have the meaning assigned thereto in Section 6.11 (which, for the avoidance of doubt, shall not include any Excluded Accounts).
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Approved Deposit Account means each bank account established or maintained by Borrower with a bank acceptable to Lender for purposes of receivables collection and subject to a Deposit Account Control Agreement.
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Approved Deposit Account means an Approved U.S. Deposit Account, an Approved Bermuda Deposit Account, an Approved Canadian Deposit Account, an Approved Irish Deposit Account or an Approved U.K. Deposit Account, as the context may require.
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Approved Deposit Account means each bank account identified as an “Approved Deposit Account” on Schedule 7.12 and such other receivables collection accounts from time to time maintained by the Borrower, TNCLP and its other Subsidiaries with a bank acceptable to the Administrative Agent and subject to a Deposit Account Control Agreement.
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