Controlled Disbursement Account definition

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.

Controlled Disbursement Account means one or more accounts maintained by and in the name of the Borrowers with a Disbursing Bank for the purposes of disbursing Revolving Credit Loan proceeds and amounts deposited thereto.

Controlled Disbursement Account means a commercial Deposit Account designated “controlled disbursement account” and maintained by one or more of the Loan Parties with the Agent, without liability by the Agent or any Lender to pay interest thereon.

Examples of Controlled Disbursement Account in a sentence

• Debtor in Possession (Controlled Disbursement Account) - - SouthTrust Bank Atlanta 81387740 Media Outsourcing Inc.

• The Cash Management System includes four bank accounts held in the name of PCD at JPMorgan Chase Bank, N.A., including Controlled Disbursement Account number xxxxx0582 and Operating Account number xxxxx0608 (collectively the “Bank Accounts”).

• Each Banking Day we will receive information from BNY Mellon regarding presentments against the Controlled Disbursement Account and will transfer funds for that day’s presentments.

• You expressly authorize us to obtain access, from time to time, to all records of the Controlled Disbursement Account.

• The Controlled Disbursement Account will be your account with BNY Mellon, and you shall, and hereby do, authorize us to act as your agent for all purposes, including but not limited to, opening and managing the Controlled Disbursement Account, and issuance of return or stop payment instructions.

More Definitions of Controlled Disbursement Account

Controlled Disbursement Account shall have the meaning specified in Section 2.2(f).

Controlled Disbursement Account means one or more accounts maintained by and in the name of the Borrower with a Disbursing Bank for the purposes of disbursing Revolving Credit Loan proceeds and amounts deposited thereto.

Controlled Disbursement Account shall have the meaning given such term in Section 2.3(c).

Controlled Disbursement Account means those certain controlled disbursement accounts of the Borrowers maintained with the Administrative Agent as zero balance, cash management accounts 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.

Controlled Disbursement Account is defined in Section 2.15(a) hereof.

Controlled Disbursement Account means the Canadian Controlled Disbursement Account, the US Controlled Disbursement Account, and, to the extent established, the UAE Controlled Disbursement Account and the Singapore Controlled Disbursement Account, collectively or individually, as the context may require.

Controlled Disbursement Account means, collectively, any account of any Borrower 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 and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.