Designated Disbursement Account definition
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).
Designated Disbursement Account has the meaning assigned to such term in Section 5.11.
Designated Disbursement Account has the meaning assigned to such term in Section 2.21(d).
Examples of Designated Disbursement Account in a sentence
Administrative Agent shall make the proceeds of each new Borrowing available to Borrower at Administrative Agent’s principal office in Chicago, Illinois (or at such other location as Administrative Agent shall designate), by depositing or wire transferring such proceeds to the credit of ▇▇▇▇▇▇▇▇’s Designated Disbursement Account or as Borrower and Administrative Agent may otherwise agree.
Subject to the terms and conditions hereof, the proceeds of each Swing Loan extended to Borrower shall be deposited or otherwise wire transferred to Borrower’s Designated Disbursement Account or as Borrower, Administrative Agent, and the Swing Line Lender may otherwise agree.
More Definitions of Designated Disbursement Account
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).
Designated Disbursement Account means the account of the Borrower maintained with the Bank or its Affiliate and designated in writing to the Bank as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Bank may otherwise agree).
Designated Disbursement Account shall have the meaning provided in Section 9.17(d).
Designated Disbursement Account is defined in Section 2.1(b)(iii).
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). “Domestic Rate” means, for any day, a rate per annum equal to the greatest of: (i) the rate of interest announced or otherwise established by the Person serving as Administrative Agent from time to time as its prime commercial rate, or its equivalent, for U.S. Dollar loans to borrowers located in the United States as in effect on such day, with any change in the Domestic Rate resulting from a change in said prime commercial rate to be effective as of the date of the relevant change in said prime commercial rate (it being acknowledged and agreed that such rate may not be such Person’s best or lowest rate), (ii) the sum of (A) the rate determined by the Administrative Agent to be the average (rounded upward, if necessary, to the next higher 1/100 of 1%) of the rates per annum quoted to the Administrative Agent at approximately 10:00 a.m. (Chicago time) (or as soon thereafter as is practicable) on such day (or, if such day is not a Business Day, on the immediately preceding Business Day) by two or more Federal funds brokers selected by the Administrative Agent for sale to the Person serving as Administrative Agent at face value of Federal funds in the secondary market in an amount equal or comparable to the principal amount for which such rate is being determined, plus (B) 1/2 of 1%, and (iii) the LIBOR Quoted Rate for such day plus 1.00%. As used herein, the term “LIBOR Quoted Rate” means, for any day, a rate per annum equal to the quotient of (A) the higher of (a) the rate per annum (rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a one-month interest period which appears on the LIBOR01 Page of the Reuters Service (or any successor thereto or other service designated by the Administrative Agent) as of
Designated Disbursement Account means a segregated, special account established by the Borrower at Bank of America or another bank acceptable to the Administrative Agent, that the Borrower has designated in writing to the Administrative Agent no later February 1, 2022 and as being the account into which Loan proceeds will be deposited thereafter and from which Borrower will cause to be paid the Ordinary Course of Business amounts then due and owing by the Borrower or any of its Subsidiaries; provided, that (i) no funds or amount of funds other than proceeds of Loans shall be deposited therein and (ii) for the avoidance of doubt, in no event shall any proceeds of, or funds constituting, Collateral or Term Loan Priority Collateral be deposited into such account.
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). “EBIT” for any period means the sum of (a) Consolidated Adjusted Net Income during such period plus (to the extent deducted in determining Consolidated Adjusted Net Income), (b) all provisions for any Federal, state or other income taxes made by the Borrower and its Restricted Subsidiaries during such period, and (c) all Interest Charges on all Indebtedness (including the interest component of Capitalized Rentals) of the Borrower and its Restricted Subsidiaries. “Electronic Chattel Paper” means Electronic Contracts that constitute electronic chattel paper (within the meaning given to such term in the Uniform Commercial Code). “Electronic Chattel Paper Conditions” shall mean, with respect to any Electronic Chattel Paper, all of the following conditions: (a) the Borrower or the applicable Restricted Subsidiary have engaged an Electronic Collateral Custodian and such Electronic Collateral Custodian shall have established an electronic vault platform for the creation, storage and assignment of Electronic Chattel Paper evidencing the loan documentation between the account debtor for such Electronic Chattel Paper and the Borrower or the applicable Restricted Subsidiary making the corresponding loan; (b) the Electronic Collateral Custodian, the Borrower (or applicable Restricted Subsidiary) and the Administrative Agent shall have entered into an Electronic Collateral Control Agreement which provides the Administrative Agent with (i) control over such Electronic Chattel Paper in accordance with Section 9-105(b) (or, in the case of the State of New York, Section 9-105) of the Uniform Commercial Code, and (ii) exclusive access to the Electronic Chattel Paper (except to the extent otherwise expressly set forth in the Electronic Collateral Control Agreement) pursuant to the terms of the Electronic Collateral Control Agreement, and the terms thereof are sufficient to permit the Administrative Agent to perform its duties and obligations hereunder; (c) the Borrower or the applicable Restricted Subsidiary shall have provided the Administrative Agent a reasoned opinion of their counsel in respect of perfection by “control,” within the meaning of Section 9-105(b) (or, in the case of the State ...