Borrower’s Deposit Account definition

Borrower’s Deposit Account means an account established with Lender pursuant to the terms of Section 4.6.
Borrower’s Deposit Account has the meaning specified in Section 7.08(b).
Borrower’s Deposit Account means any deposit account maintained by Borrower or represented by an employee of Borrower to be maintained by Borrower, and any other account of Borrower into which Borrower directs Lender to make Revolving Advances or payments.

Examples of Borrower’s Deposit Account in a sentence

  • Any account fees and charges may be deducted from the balance, if any, in the Borrower’s Deposit Account.

  • The Borrower’s Deposit Account may be established and held in such name or names as Lender shall deem appropriate, including in the name of Lender.

  • Borrower grants to Lender a security interest in the Borrower’s Deposit Account and all such deposited funds hereafter deposited to such deposit account, and any proceeds thereof, as security for the Obligations.

  • Lender shall have the exclusive right to manage and control all funds in the Borrower’s Deposit Account, but Lender shall have no fiduciary duty with respect to such funds.

  • Borrower agrees that it shall include all interest and earnings on any such deposit as its income (and, if Borrower is a partnership or other pass-through entity, the income of its partners, members or beneficiaries, as the case may be), and shall be the owner of all funds on deposit in the Borrower’s Deposit Account for federal and applicable state and local tax purposes.

  • Accrued interest shall be payable monthly for each month on the first day of the following month, and shall be debited to Borrower’s Deposit Account maintained with the Lender designated by Borrower (or as selected by Lender in the absence of such a designation).

  • Any and all Obligations due and owing hereunder may be charged to Borrower’s Deposit Account at Administrative Agent and Borrower hereby authorizes Administrative Agent to debit Borrower’s Deposit Account at Administrative Agent.

  • Borrower shall direct all Debt Investment Obligors and Portfolio Companies in respect of any amounts payable to Borrower to make payment of all such amounts to the Borrower’s Deposit Account maintained with the Agent and otherwise take all reasonable actions to cause such payments to be made to the Borrower’s Deposit Account maintained with the Agent.

  • Such funds shall be held in such Borrower’s Deposit Account, which shall be an interest-bearing account, with all accrued interest to become part of Borrower’s deposit.

  • Each of the Borrower and its respective employees, agents and Subsidiaries (other than MVC PE Fund) shall, acting as trustee for Agent, receive, as the property of Borrower, any monies, checks, notes, drafts or any other payment relating to and/or proceeds of Debt Investments, Equity Interests or other Collateral which come into its possession or under its control and promptly upon receipt thereof, shall deposit or cause the same to be deposited in the Borrower’s Deposit Account maintained with the Agent.


More Definitions of Borrower’s Deposit Account

Borrower’s Deposit Account means an account established with Lender pursuant to the terms of 0. "Borrower's Funds" has the meaning ascribed to such term in Schedule G.
Borrower’s Deposit Account means an account established with Lender pursuant to the terms of .
Borrower’s Deposit Account means an account established with the Administrative Agent pursuant to the terms of Section 6.6.
Borrower’s Deposit Account means a deposit account to be maintained by Borrower with a bank selected by Borrower and reasonably acceptable to the Agent. The Borrower's Deposit Account on the Closing Date is account number 0011649920 maintained with BancOne, Lafayette, Indiana. Any substitution therefor subsequent to the Closing Date will be identified to the Agent by a Senior Officer of Borrower in a letter in similar form.
Borrower’s Deposit Account means an account established with Administrative Agent pursuant to the terms of Section 4.7. “Borrower’s Instruction Certificate” means a certificate provided by or on behalf of Borrower in the form attached hereto as Exhibit “N”, designating certain Authorized Persons and Authorized Signers as set forth therein. “BSBY” means the Bloomberg Short-Term Bank Yield Index rate. “BSBY Daily Floating Rate” means, for any day, a fluctuating rate of interest per annum equal to the BSBY Screen Rate two (2) Business Days prior to such day for a term of one (1) month; provided that if the rate is not published on such determination date then BSBY Daily Floating Rate means the BSBY Screen Rate on the first (1st) Business Day immediately prior thereto; provided, further, if the BSBY Daily Floating Rate determined in accordance with the foregoing provisions of this definition would otherwise be less than zero percent (0.00%), the BSBY Daily Floating Rate shall be deemed zero percent (0.00%) for purposes of this Agreement. “BSBY Margin” means two hundred seventy-five (275) basis points per annum. “BSBY Rate” means, for any day, a fluctuating rate per annum equal to the BSBY Margin plus the BSBY Daily Floating Rate.

Related to Borrower’s Deposit Account

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

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • 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.

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

  • 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.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under its sole dominion and control.

  • 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.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;