Blocked Deposit Account definition

Blocked Deposit Account shall have the meaning set forth in Section 5.2.
Sample 1
Blocked Deposit Account has the meaning ascribed to such term in SECTION 3.2(d). "Borrower" -- see Preamble.
Sample 1
Blocked Deposit Account shall have the meaning specified in Section 5.02(b). "Blocked Deposit Agreement" means an agreement by and among the Seller, the Company, the Collateral Agent and a Blocked Deposit Bank in substantially the form attached hereto as Annex F, establishing a Blocked Deposit Account and specifying the rights of the Company and the Collateral Agent in such Blocked Deposit Account. "Blocked Deposit Bank" means any bank maintaining one or more Blocked Deposit Accounts. "Book Net Worth" shall mean, with respect to any Person, the total assets less the total liabilities of such Person, as determined in accordance with GAAP. "Business Day" shall mean a day on which each of GECC, the Collateral Agent and the Depositary is open at its respective address specified in this Agreement or in the Security Agreement or Depositary Agreement, as the case may be, for the purpose of conducting its business. "Carrying Costs" shall mean, with respect to any Settlement Period, the sum of (i) the Aggregate Interest Component for such Settlement Period PLUS (ii) the aggregate amount of interest accrued during such Settlement Period with respect to all Loans outstanding during such Settlement Period PLUS (iii) the Program Fee payable with respect to such Settlement Period PLUS
Sample 1

Examples of Blocked Deposit Account in a sentence

  • You are hereby notified that the Blocked Deposit Account Control Agreement dated as of May 11, 2007 among Tekoil and Gas Gulf Coast, LLC, you and the undersigned (a copy of which is attached) is terminated and you have no further obligations to the undersigned pursuant to such Agreement.

  • At no time shall more than $500,000 be held in any Deposit Account or other account of Borrowers or any of their Subsidiary Entities in which Administrative Agent does not have a perfected first-priority Lien pursuant to a Blocked Deposit Account Agreement.

  • In addition to the Loan Agreement, the following Related Documents were executed by the Company to grant the Bank a security interest in and Lien upon the Collateral, each dated as of February 6, 1996: (i) a Trademark Security Agreement made by the Company in favor of the Bank; (ii) a Blocked Deposit Account Agreement among the Company, the Bank and Amcore Bank N.A. Northwest; and (iii) a Declaration and Agreement among the Company, the Bank and the owner of the Company's headquarters.

  • Blocked Deposit Account Control Agreement among Nathan’s Famous, Inc., SMG, Inc.

  • The belief, for example, that Russia and the West have the same desired end state for their relationship arises when we project our own values on to Moscow and assume that we share a default common understanding of basic principles.

  • You are hereby notified that the Blocked Deposit Account Agreement, dated as of , 200[_], among EH/TRANSEASTERN, LLC and TE/TOUSA SENIOR, LLC, you and the undersigned (a copy of which is attached) has been terminated as of , 20___ , and, as of such date, you have no further obligations to the undersigned pursuant to such Agreement.

  • This will be achieved through a number of components, most notably to upgrade and modernize existing (or new) government-owned irrigation systems (schemes).

  • The Borrowers shall only be entitled to withdraw amounts standing to the credit of a Blocked Deposit Account in accordance with clause 20.2.3 and shall not withdraw amounts standing to the credit of a Blocked Deposit Account at any time when an Event of Default has occurred which is continuing.

  • XXXX & COMPANY, as Secured Party By: Name: Title: EXHIBIT B-2 TO PLEDGE AND SECURITY AGREEMENT BLOCKED DEPOSIT ACCOUNT CONTROL AGREEMENT This Blocked Deposit Account Control Agreement dated as of May 11, 2007 (this “Agreement”) among TEKOIL AND GAS GULF COAST, LLC, a Delaware limited liability company (the “Debtor”), X.

  • Successful relationships may assist firms in achieving performance objectives and mitigating the risks associated with offshore outsourcing.

Related to Blocked Deposit Account

  • 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.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

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

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Account Control Agreements means the deposit account control agreements or blocked account agreements in a form that is reasonably satisfactory to the Agent to be executed by each institution maintaining a deposit account or securities account for any of the Credit Parties, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations to the extent required by Section 4.14(g) or any other provision of this Agreement or any Other Document.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

  • Security Account “Software”, and “Supporting Obligations”.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Deposit Account Control Agreement means an agreement in a form that is reasonably satisfactory to the Administrative Agent establishing the Administrative Agent’s Control with respect to any Deposit Account.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Concentration Account has the meaning provided in Section 6.13(c).