Bank Instruction Letter definition

Bank Instruction Letter means (x) with respect to the Bank of America Account, the standing order transfer form of Bank of America executed by Parent and delivered to Bank of America, in form and substance reasonably acceptable to the Administrative Agent and (y) with respect to each bank or other financial institution with which the Borrower or such Loan Party maintains an account outside the United States, a letter executed by the Borrower or other applicable Loan Party and delivered to such bank or other financial institution, in form and substance reasonably acceptable to the Administrative Agent, which letter provides irrevocable instructions to such bank or financial institutions to remit all funds on deposit in such account at the end of each Business Day to a Collection Account on each such Business Day.
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Bank Instruction Letter means the bank instruction letter relating to the operation of the Managed Base Account (as defined in the Trust Deed), entered into between the Receivables Purchaser, CPW and HSBC Bank Plc on or around the Commencement Date;
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Bank Instruction Letter means the letter, in agreed form, to be delivered from the Escrow Agents to the Escrow Bank in accordance with paragraph 1 of Part C of Schedule 3;
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Examples of Bank Instruction Letter in a sentence

  • If the Escrow Account is required to be opened pursuant to clause 12 of this agreement, the Sellers’ Representative (on behalf of all the Warrantors) and the Buyer shall sign the Escrow Letter and procure that the Escrow Agents sign and deliver the Bank Instruction Letter to the Escrow Bank.

  • No Borrower shall open or maintain any bank account other than the Collection Accounts, the Fortress Excess Cash Account, any other bank account for which an Account Control Agreement has been executed and delivered to the Administrative Agent or with respect to which a Bank Instruction Letter has been delivered.

  • At Completion the Purchaser and Sellers shall Sign the Escrow Letter and procure that the Escrow Agents sign and deliver the Bank Instruction Letter to the Escrow Bank.

  • The relevant Bank Instruction Letter must be completed for the purposes of paying subscriptions.

  • No Loan PartyBorrower shall open or maintain any bank account other than the Collection Accounts, the Fortress Excess Cash Account, the Debt Service Reserve Account, any other bank account for which an Account Control Agreement has been executed and delivered to the Administrative Agent or with respect to which a Bank Instruction Letter has been delivered, provided that the Borrower shall have forty five (45) days from the Fourth.

  • At Completion, the Purchaser shall pay $2,000,000 to the Escrow Bank to be held in accordance with the Bank Instruction Letter, and the Sellers and the Purchaser shall sign the Escrow Letter and procure that the Escrow Agents sign and deliver the Bank Instruction Letter to the Escrow Bank.

  • Bank Instruction Letter: the letter, in agreed form, from the Escrow Agents to the Escrow Bank.

  • Bank Instruction Letter: the letter, in the agreed form, from the Escrow Agents to the Escrow Bank.

  • No Borrower shall open or maintain any bank account other than the Collection Accounts, the Fortress Excess Cash Account, any other bank account for which an Account Control Agreement has been executed and delivered to the Administrative Agent or with respect to which a Bank Instruction Letter has been delivered, and any Disqualified Account.

  • No Loan Party shall open or maintain any bank account other than the Collection Accounts, the Debt Service Reserve Account, any other bank account for which an Account Control Agreement has been executed and delivered to the Administrative Agent or with respect to which a Bank Instruction Letter has been delivered.


More Definitions of Bank Instruction Letter

Bank Instruction Letter means the letter, in the agreed form, from the Escrow Agents to the Escrow Bank.
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