BT ACCOUNT definition

BT ACCOUNT has the meaning set forth in Section 4.11.

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BT ACCOUNT shall have the meaning given to such term in Section 2.9 hereof. BTCC shall mean BT Commercial Corporation, in its individual capacity.

BT ACCOUNT means an account, maintained by the Collateral Agent at Bankers Trust Company, into which all available funds in the Concentration Account are transferred on every Business Day to be applied to payments of the BTCC Credit Agreement Obligations.

Examples of BT ACCOUNT in a sentence

• Upon the terms and subject to the conditions set forth in the Depositary Account Agreements, all available amounts held in each Collection Account shall be wired each Business Day into an account (the "BT ACCOUNT") maintained by the Agent at BTCo. Amounts received in the BT Account from the Collection Banks shall be credited to the Loan Account and distributed and applied as set forth in SECTION 4.12.

• Upon the terms and subject to the conditions set forth in the Depositary Account Agreements, all available amounts held in each Collection Account shall be wired each Business Day into an account (the "BT ACCOUNT") maintained by the Agent at Bankers Trust Company.

• Upon the terms and subject to the conditions set forth in the Lockbox Agreements, all available amounts held in each Collection Account maintained by a Borrower shall be wired each Business Day into an account maintained by the Agent with respect to such Borrowers at Bankers Trust Company (each, a "BT ACCOUNT").

• Upon the terms and subject to the conditions set forth in the Lockbox Agreements, from and after the Initial Funding Date, during any period of time when either (i) an Event of Default has occurred and is continuing, or (ii) unused availability under the Borrowing Base is less than $5,000,000, the Agent may, in its sole discretion, cause all available amounts held in each Lockbox Account to be wired each Business Day into an account (the ("BT ACCOUNT") maintained by the Agent with Bankers Trust Company.

More Definitions of BT ACCOUNT

BT ACCOUNT shall have the meaning given to such term in Section 3.5 hereof.

BT ACCOUNT shall have the meaning ascribed to that term in SECTION 2.5(B)(II).

BT ACCOUNT is defined in Section 2.12.

BT ACCOUNT shall have the meaning given to such term in Section 2.6. BTCo shall mean Bankers Trust Company. BT Delaware shall have the meaning provided in Section 2.3(b). BTCC shall mean BT Commercial Corporation, in its individual capacity. Business Day shall mean any day other than a Saturday, Sunday or legal holiday on which commercial banks in New York, New York are authorized to close. When used in connection with Eurodollar Rate Loans, this definition will also exclude any day on which commercial banks are not open for dealing in U.S. Dollar deposits in the New York interbank Eurodollar market. Canadian Holdco shall mean 3282392 Canada Inc., a corporation organized under the federal laws of Canada.

BT ACCOUNT means a deposit account, maintained by the Borrower with the Credit Agent, into which available funds in the Concentration Account are transferred in accordance with the terms of the BTCC Credit Agreement.