Canadian Disbursement Account definition

Canadian Disbursement Account means each checking and/or disbursement account of the Canadian Borrower for its general corporate purposes, including for the purpose of paying the Canadian Borrower’s trade payables and other operating expenses.
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Canadian Disbursement Account has the meaning ascribed to it in Section 1.1(d).
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Canadian Disbursement Account as defined in the definition of Canadian Pledged Accounts.
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Examples of Canadian Disbursement Account in a sentence

  • It gained independence on 16 August 1960, although the United Kingdom retained two sovereign military bases.

  • Canada may maintain, in its name, accounts (each a "Canadian Disbursement Account" and collectively, the "CANADIAN DISBURSEMENT ACCOUNTS") at a bank acceptable to Agent into which WESCO-Canada may deposit proceeds of loans made to it by WESCO Finance Canada in accordance with SECTION 6.3(ix).

  • None of the Company, Atlantic Power Corporation or any of the other Guarantors shall have any rights or powers with respect to the remittance of amounts credited to, the disbursement of credited amounts out of, or the investment of credited amounts in, the Accounts (other than the US Disbursement Account and the Canadian Disbursement Account), except to have amounts credited thereto or withdrawn therefrom applied in accordance with the terms of this Agreement.

  • The Debtors pay theBanks ordinary course fees and expenses in connection with maintaining the Bank Accounts (the 3 These accounts are the Euro Operating Account, the Canadian USD Depository Account, the Canadian ZBA, and the Canadian Disbursement Account.

  • The Depositary Bank represents and agrees that each Account (other than the US Disbursement Account and the Canadian Disbursement Account) will be maintained, to the extent that financial assets are deposited herein or credited thereto as a “securities account” (as defined in Section 8-501 of the UCC), and, to the extent that credit balances not constituting financial assets are credited thereto, as a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).

  • The rights and powers granted in this Agreement to the Collateral Agent have been granted in order to perfect its security interests in the Accounts (other than the US Disbursement Account and the Canadian Disbursement Account), are powers coupled with an interest and are not intended to be affected by the bankruptcy of the Company or any Guarantor or by the lapse of time.

  • Unless otherwise agreed by the Agent in its Permitted Discretion, each Canadian Guarantor, Agent and each of the banks in which the Canadian Disbursement Accounts are maintained, shall, within the Post Closing Period enter into and thereafter maintain Control Agreements with respect to each such Canadian Disbursement Account (except with respect to Excluded Accounts).

  • Unless otherwise agreed by the Agent in its Permitted Discretion, each Canadian Guarantor, Agent and each of the banks in which the Canadian Disbursement Accounts are maintained, shall, within the Post Closing Period enter into and Exhibit 10.61 DIP Credit Agreement thereafter maintain Control Agreements with respect to each such Canadian Disbursement Account (except with respect to Excluded Accounts).

  • In addition, so long as no Default has occurred and in continuing, the Borrower may from time to time, without the prior consent of the Agent, use funds in the Canadian Disbursement Account to pay amounts due to its Canadian vendors in the ordinary course of business.


More Definitions of Canadian Disbursement Account

Canadian Disbursement Account deposit account #711449328214 maintained at Bank of America, N.A., (acting through its Canada branch), or such other account as may be mutually agreed in writing by Lender and Borrower.
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Related to Canadian Disbursement Account

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

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

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

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

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • L/C Cash Collateral Account means an interest bearing cash collateral 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.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

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

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Agent Account means an account in the name of the Agent designated by the Agent to the Borrower from time to time into which the Borrower shall make all payments to the Agent, for the account of the Agent or the Lenders, as the case may be, under this Agreement.

  • Cash Collateral Accounts shall have the meaning given to such term in Section 11.1 hereof.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • 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.

  • Lender’s Account means the account identified in Schedule L-1.

  • Loan Disbursement Handbook means ADB’s Loan Disbursement Handbook (2012, as amended from time to time);

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

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

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

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

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

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

  • Funds Account means an account held by you or any third parties maintained with any Participant.