Direct Deposit Account definition

Direct Deposit Account means the deposit account maintained by Borrower with Agent, as from time to time designated by Borrower by written notification to Agent.
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Direct Deposit Account means a deposit account established and maintained with Bank, account number 0102536331, in the name of PH1, for the benefit of Bank, from which the Borrower shall have no right to make withdrawals other than as expressly provided in this Agreement.
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Direct Deposit Account has the meaning ascribed to such term in Section 2.29.
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Examples of Direct Deposit Account in a sentence

  • All the customers of the Seller directly deposit into the Deposit Account maintained by the Bank of Montreal set forth on such Schedule 2.29 and designated "Direct Deposit Account" on such schedule (the "Direct Deposit Account").

  • Prior to 2:00 p.m. (California time) on the date of a Loan, Agent shall, subject to the satisfaction of the conditions set forth in Section 4, disburse the amount of the requested Loan by deposit into the Direct Deposit Account or as otherwise directed by Borrower.

  • Chase Direct Deposit Account Chase Manhattan Bank Xxxxx Xxxxx, Inc.

  • Prior to 2:00 p.m. (California time) on the date of a Revolving Loan, Agent shall, subject to the satisfaction of the conditions set forth in Section 4, disburse the amount of the requested Revolving Loan by deposit into the Direct Deposit Account or as otherwise directed by Borrower.

  • Buyer, Seller and the Bank of Montreal shall have entered into an agreement in form and substance reasonably satisfactory to the Buyer and its counsel that will transfer custody and all rights and benefits under the Direct Deposit Account to Buyer.

  • Borrower shall cause Sponsor to open an account at Bank (the “Sponsor Deposit Account”) for the receipt by Sponsor of a capital contribution from Steuben Investment Company II, L.P. Upon the receipt of instructions from Sponsor, simultaneous to the transfer of Advance proceeds to the account instructed by Borrower pursuant to Section 2.11(a) (Transfers from the Direct Deposit Account) Bank shall transfer the balance of the Sponsor Deposit Account to the same account.

  • Direct Deposit Account Information (please check one) £ I currently receive or have received direct deposit payments for other notes purchased from Multiband Corporation.

  • Amounts owing to Rensselaer under Section 2 shall be paid to Rensselaer’s Direct Deposit Account No. 9429364051 at the Bank of America.

  • Credit card deposits are sent to the applicable Direct Deposit Account for each facility held at Bank of America and listed on Schedule 8.5.1.

  • Union Bank Foreign Currency Direct Deposit Account 300451-CAD Physicians Formula, Inc.


More Definitions of Direct Deposit Account

Direct Deposit Account means an account with a Financial Institution the title of which includes the State Employee’s name designated by the State Employee to receive Direct Deposits of the State Employee’s Net Salary by electronic funds transfer.
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Related to Direct Deposit Account

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

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

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • 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.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

  • Direct Account : means any Account which is not an ISA Account.

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

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Direct Deposit Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Xxxxx Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below. Name on Deposit Account: Xxxxx Fargo Bank, N.A. Deposit Account Number: Further Credit Information/Instructions: Disbursements of Loan Proceeds Subsequent to Loan Closing/Origination Subsequent Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Subsequent Disbursement Authorizer”) to disburse Loan proceeds after the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Subsequent Disbursement”): Individual’s Name Title 1.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

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

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

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

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.