Canadian Controlled Disbursement Account definition
Canadian Controlled Disbursement Account means the accounts of the Canadian Borrower maintained with the Canadian Administrative Agent in each case as a zero balance, cash management account pursuant to and under any agreement between the Canadian Borrower and the Canadian Administrative Agent, as modified and amended from time to time, and through which all disbursements of the Canadian Borrower, any Canadian Loan Party and any designated Subsidiary of any Canadian Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.