Excluded Account definition
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 ▇▇▇▇▇ Cash Accounts.
Excluded Account has the meaning set forth in the Security Agreement.
Excluded Account has the meaning specified in Section 6.12.
Examples of Excluded Account in a sentence
It will not establish or maintain any account other than (i) Deposit Accounts and Securities Accounts that are Controlled Accounts (other than an Excluded Account) and (ii) Bank Accounts that are pledged pursuant to the Swiss Bank Account Pledge Agreement.
More Definitions of Excluded Account
Excluded Account means any deposit account (i) that is used solely for payment of payroll, bonuses, other compensation and related expenses; (ii) deposit accounts that are zero balance accounts; or (iii) that maintains a balance on deposit at any time of not more than $100,000; provided that, the aggregate balance on deposit at any time in all Excluded Accounts described in clause (iii) shall not exceed $1,000,000 at any time.
Excluded Account is defined in Section 7.13.
Excluded Account as defined in the Guarantee and Collateral Agreement.
Excluded Account means, collectively, (i) accounts used exclusively for payroll, the withheld employee portion of payroll taxes and other employee wage and benefit payments, and (ii) fiduciary and other trust accounts.
Excluded Account means any of the accounts listed on Schedule I hereto, as amended from time to time by the parties hereto.
Excluded Account means any segregated deposit account or securities account specifically and exclusively used to hold payroll and payroll taxes and other employee benefit payments, Taxes required to be collected, remitted or withheld (including sales taxes) and other funds which any Loan Party holds in trust or as an escrow or fiduciary for another third party which is not a Loan Party or its Subsidiary (including for the purposes of paying taxes in the ordinary course of business).
Excluded Account means (a) any zero balance account, (b) any payroll, employee benefit, withholding tax or fiduciary account or (c) any cash collateral account established for the benefit of a letter of credit issuer and/or hedging counterparty permitted under Section 6.3(k) and/or Section 6.3(o).