Canadian Blocked Accounts definition

Canadian Blocked Accounts has the meaning specified in Section 7.01(i).
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Canadian Blocked Accounts has the meaning specified in Section 7.01(i). “Canadian Borrower” and “Canadian Borrowers” has the meaning specified in the preamble to this Agreement. “Canadian Collateral” means the Collateral owned by (or, in the event such Collateral has been foreclosed upon, immediately prior to such foreclosure that was owned by) a Canadian Loan Party. “Canadian Defined Benefit Plan” means a Canadian Pension Plan which contains a “defined benefit provision” as defined in subsection 147.1(1) of the Income Tax Act (Canada). “Canadian Dollars,” and the sign “CND$” each means lawful money of Canada. “Canadian Dominion Account” means a special concentration account established by a Canadian Borrower at an Affiliate or branch of the Agent in Canada, over which the Agent has exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Loan Documents. “Canadian Guarantor” means each Guarantor that is incorporated or otherwise organized under the laws of Canada or any province or territory thereof.
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Canadian Blocked Accounts as defined in the definition of Canadian Pledged Accounts.
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Examples of Canadian Blocked Accounts in a sentence

  • The Borrower shall not be permitted to make withdrawals from the Canadian Blocked Accounts at any time, and all interest and increases, if any, accrued thereon shall remain in such accounts.

  • All proceeds of the sale or other disposition of any Canadian Collateral shall be deposited directly into Canadian Blocked Accounts.

  • Notwithstanding the foregoing, the Borrower may, at any time, request that amounts on deposit in the Canadian Blocked Accounts be applied by the Agent to prepay outstanding Loans, such prepayment to be made in accordance with Section 2.4.

  • The Borrower shall maintain lockbox agreements, in form and substance reasonably satisfactory to the Administrative Agent, with the Blocked Account Banks which maintain Canadian Lockboxes, pursuant to which lockbox agreements all checks, drafts or other items or amounts in such Canadian Lockboxes shall be deposited by such Blocked Account Bank in the Canadian Blocked Accounts maintained by such Blocked Account Bank.

  • Cash of the Borrower and its Subsidiaries in Blocked Accounts and Canadian Blocked Accounts and investments of the type described in Section 9.3(a), (b), (c) and (i) in which the Administrative Agent, for the benefit of the Lenders and the Administrative Agent has a security interest.

  • Cash of the Borrower and its Subsidiaries in Blocked Accounts and Canadian Blocked Accounts and investments of the type described in (S)9.3(a), (b), (c) and (i) in which the Administrative Agent, for the benefit of the Lenders and the Administrative Agent has a security interest.

  • The Borrower shall at all times cause any and all revenue received by the Borrower or its Subsidiaries in Canadian dollars to be promptly deposited in the Canadian Blocked Accounts.


More Definitions of Canadian Blocked Accounts

Canadian Blocked Accounts means any lockbox account, dominion account or other “blocked account” of a Borrower which are established at a Blocked Account Bank in Canada.
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Related to Canadian Blocked Accounts

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

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

  • 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.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • 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.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Blocked Account Banks means the banks with whom deposit accounts are maintained in which material amounts (as reasonably determined by the Administrative Agent) of funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

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

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Locked Box Accounts means the accounts in agreed form of the Group Companies, comprising a balance sheet as at the Locked Box Date and profit and loss account for the period which commenced on 18 October 2016 and which ended on the Locked Box Date;

  • Blocked Account Control Agreement means the Cash Management Agreement among Borrower, Cash Management Account Bank and Lender providing for the exclusive control of the Cash Management Account and all other Subaccounts by Lender, substantially in the form of Exhibit A or such other form as may be reasonably acceptable to Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • 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”.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • 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.

  • 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.