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 means (a) each account all of the deposits in which consist of amounts utilized to fund payroll, employee benefit or tax obligations of the Credit Parties, (b) fiduciary, trust or escrow accounts, (c) “zero balance” accounts and (d) other accounts so long as (i) the balance in any one such account on any day does not exceed $1,000,000 and (ii) the aggregate balance for all such accounts excluded pursuant to this clause (d) on any day does not exceed $2,000,000.
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 (i) any accounts used solely for payroll expenses, trust accounts, employee benefit accounts or tax payments of the Loan Parties and their Subsidiaries, (ii) zero balance accounts, (iii) any deposit account and securities account that does not have a cash or Cash Equivalents balance at any time exceeding $75,000 (or the foreign equivalent thereof) in the aggregate for all such accounts.