Controlled Disbursement Accounts definition

Controlled Disbursement Accounts means account number: 130103012626 established at Agent, which will be structured and utilized as a non-interest bearing, controlled disbursement account in accordance with Agent’s controlled disbursement account policies and procedures from time to time in effect.
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Controlled Disbursement Accounts means, collectively, the accounts of any of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account with a unique ABA routing number which effectively limits the number and frequency of daily check presentments pursuant to and under any agreement between any Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of the Borrowers (or any other Loan Party) are made and settled on a daily basis with no uninvested balance remaining overnight.
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Controlled Disbursement Accounts means, collectively, account(s) of the US Borrowers maintained with the US Administrative Agent, as a zero balance, cash management account(s) pursuant to and under any agreement between any US Borrower and the US Administrative Agent, as modified and amended from time to time, and through which all disbursements of the US Borrowers are made and settled on a daily basis with no uninvested balance remaining overnight.
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Examples of Controlled Disbursement Accounts in a sentence

  • Customer shall open and maintain one or more demand deposit accounts which shall serve as Customer’s Controlled Disbursement Account(s) (each a “CDA”).

  • Government of Tajikistan, Ministry of Economic Development and Trade.

  • At the time, his policies jibed well with Kinshasa and President Mobutu, who was fighting off the opposition movement led by Etienne Tshisikedi, himself from Kasai.

  • The Borrowers shall not accumulate or maintain cash in the operating account or payroll or other such accounts, as of any date of determination, in excess of checks outstanding against the Controlled Disbursement Account (or Controlled Disbursement Accounts) and other deposit accounts approved by the Agent (such as medical benefit accounts, flexible spending accounts and automated clearing house accounts) as of that date, and amounts necessary to meet minimum balance requirements.

  • The Borrowers shall base its requests for Revolving Loans on, among other things, the daily balance of the Controlled Disbursement Account (or Controlled Disbursement Accounts).

  • Failure to re-erect within the 120 days allowed will can- cel the existing permit.

  • Schedule 6.1(cc) lists all banks and other financial institutions at which any Borrower maintains deposits and/or other accounts as of the Effective Date, including any Controlled Disbursement Accounts, and such Schedule correctly identifies the name, address and telephone number of each depository, the name in which the account is held, a description of the purpose of the account, and the complete account number.

  • The cash in the Operating Accounts is transferred to the Controlled Disbursement Accounts and Payroll Accounts through a ZBA structure.

  • The Workers' Compensation, Payroll, Retiree Payroll, and Controlled Disbursement Accounts are zero balance accounts to the concentration account.

  • Securities issued by the Federal National Mortgage Association (FNMA).


More Definitions of Controlled Disbursement Accounts

Controlled Disbursement Accounts means the accounts set forth on Schedule 2 established at the Lender, which will be structured and utilized as a non-interest bearing, controlled disbursement account in accordance with the Lender’s controlled disbursement account policies and procedures from time to time in effect.
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Controlled Disbursement Accounts means the Canadian Disbursement Account and the US Disbursement Account together, and “Controlled Disbursement Account” means any one of such accounts individually.
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Controlled Disbursement Accounts has the meaning given in Section 2.2.
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Controlled Disbursement Accounts means, collectively, 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. “CPR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Canadian Prime Rate.
Sample 1
Controlled Disbursement Accounts means the operating accounts of Borrowers at Agent identified in Exhibit 2.6, which will be structured and utilized as controlled disbursement accounts in accordance with Agent's controlled disbursement account policies and procedures.
Sample 1

Related to Controlled Disbursement Accounts

  • 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.

  • 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).

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

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

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

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

  • 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.

  • 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.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • 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.

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

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

  • Investment Account As defined in Section 3.12(a).

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

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • L/C Cash Deposit Account means an interest bearing cash deposit 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.

  • 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.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

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

  • Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.