Blocked Account definition

Blocked Account has the meaning provided in Section 6.13(a)(ii).

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Blocked Account shall have the meaning assigned to such term in Section 5.11(a).

Blocked Account means any Deposit Account subject to a Blocked Account Agreement.

Examples of Blocked Account in a sentence

• Open new Blocked Accounts unless the Loan Parties shall have delivered to the Collateral Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.13 and otherwise satisfactory to the Collateral Agent.

• Prior to the exercise of remedies provided for in Section 8.02 (or before the Term Loan has automatically become immediately due and payable as set forth in the proviso to Section 8.02), all amounts received in a Concentration Account from any source, including the Blocked Account Banks, shall be applied by the Administrative Agent as provided in Section 2.06).

• In the event that Merchant changes its Purchaser-approved Processor without Purchaser’s written consent, Merchant shall, in addition to paying any other damages suffered by Purchaser, pay to Purchaser the Blocked Account Fee set forth in the attached Fee Structure Addendum as liquidated damages, as it will be impracticable or extremely difficult to determine the resulting damages suffered by Purchaser.

• In the event that Merchant changes Merchant’s Bank Account or the Approved Account without Purchaser’s prior written consent, Merchant shall, in addition to paying any other damages suffered by Purchaser, pay to Purchaser the Blocked Account Fee as liquidated damages, as it will be impracticable or extremely difficult to determine the resulting damages suffered by Purchaser.

• Prior to the exercise of remedies provided for in Section 8.02 (or before the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), all amounts received in a Concentration Account from any source, including the Blocked Account Banks, shall be applied by the Administrative Agent in the order set forth in Section 2.05(g).

More Definitions of Blocked Account

Blocked Account has the meaning set forth in Section 4.1.

Blocked Account means any deposit account in which any funds of any of the Loan Parties from one or more DDAs (other than any Excluded DDA) are concentrated and with respect to which a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

Blocked Account has the meaning provided in SECTION 2.18(c).

Blocked Account means a deposit account maintained by the Debtor with a Blocked Account Bank which account is the subject of an effective Blocked Account Letter, and includes all monies on deposit therein and all certificates and instruments, if any, representing or evidencing such Blocked Account;

Blocked Account means each DDA subject to a Blocked Account Agreement.

Blocked Account. Any DDA into which the contents of any other DDA is transferred.

Blocked Account means an account maintained by the SPV or an Originator as Master Servicer or Sub-Servicer, as applicable, at a Blocked Account Bank for the purpose of receiving Collections, set forth in Schedule 4.1(s) or any account added as a Blocked Account pursuant to and in accordance with Section 4.1(s) and which, if not maintained at and in the name of the Administrative Agent, is subject to a Blocked Account Agreement (or will become subject to such an agreement as provided in the definition of “Net Pool Balance”).