Controlled Depository definition

Controlled Depository has the meaning assigned thereto in Section 4.6.
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Controlled Depository has the meaning assigned thereto in Section 7(f).
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Controlled Depository means a depositary bank that has executed and delivered a control agreement sufficient, when considered together with the applicable provisions of the Intercreditor Agreements, to provide the Collateral Agent with Control of the applicable Deposit Account or Investment Property.
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Examples of Controlled Depository in a sentence

  • After the date hereof, all Deposit Accounts (other than Excluded Deposit Accounts) and all Investment Property will be maintained with the Administrative Agent or with a Controlled Depository or a Controlled Intermediary, as applicable.

  • After the date hereof, all Deposit Accounts (other than Excluded Deposit Accounts) and all Investment Property (other than Excluded Investment Property) will be maintained with the Administrative Agent or with a Controlled Depository or a Controlled Intermediary, as applicable.

  • After the date hereof, all Deposit Accounts (other than Excluded Deposit Accounts) and all Securities Accounts (other than Excluded Securities Accounts) will be maintained with the Administrative Agent or with a Controlled Depository or a Controlled Intermediary, as applicable.

  • After the date hereof, all Deposit Accounts (other than Excluded Deposit Accounts) and all Investment Property will be maintained with a Controlled Depository or a Controlled Intermediary, as applicable.

  • After the date hereof to the extent required by the Purchase Agreement, all Deposit Accounts (other than Excluded Deposit Accounts) and all Investment Property will be maintained with a Controlled Depository or a Controlled Intermediary, as applicable.

  • In the event any such depository bank or Securities Intermediary refuses to execute and deliver such control agreement, the Purchaser, in its sole discretion, may require the applicable Deposit Account (other than Excluded Deposit Accounts) and Investment Property to be transferred to a Controlled Depository or Controlled Intermediary, as applicable.

  • After the date hereof and subject to the provisions of the foregoing sentence, all Deposit Accounts (other than Excluded Deposit Accounts) and all Investment Property will be maintained with the Administrative Agent or with a Controlled Depository or a Controlled Intermediary, as applicable.

  • Each Grantor shall cause all funds held in any Medicare/Medicaid Receivables Account to be transferred to a Deposit Account at a Controlled Depository on a weekly basis unless the Administrative Agent requests, or this Agreement otherwise requires, a more frequent transfer following an Event of Default.

  • In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement, the Administrative Agent, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Administrative Agent or a Controlled Depository or Controlled Intermediary, as applicable.

  • Upon the occurrence or during the continuance of a Default or Event of Default, whenever any Grantor shall receive any monies, checks or any other items of payment relating to, or proceeds of, Accounts, such Grantor agrees with the Administrative Agent and Lenders that it will, consistent with Grantor's business practice, deposit all such items of payment into a Deposit Account at First Union or at a Controlled Depository.

Related to Controlled Depository

  • Controlled Deposit Account means a Deposit Account that is subject to a Deposit Account Control Agreement.

  • Qualified Depository A depository the accounts of which are insured by the FDIC through the BIF or the SAIF and the debt obligations of which are rated AA or better by Standard & Poor's Corporation.

  • Controlled Deposit Amount means, for any Distribution Date with respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date.

  • Depository The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.