Excluded Accounts definition

Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

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Excluded Accounts means (a) payroll accounts, (b) health savings accounts, worker’s compensation accounts and other employee benefits accounts, (c) payroll withholding tax accounts and other tax (including sales tax) remittance accounts and (d) any other account that is used solely as an escrow account or as a fiduciary or trust account and not otherwise prohibited under this Agreement or any other Loan Document.

Excluded Accounts means (a) Deposit Accounts exclusively used for payroll, payroll Taxes and other employee wage and benefit payments to or for the benefit of the employees of the Obligors, (b) Deposit Accounts with aggregate balances of $250,000 or less at any time and (c) Deposit Accounts that are Segregated Health Care Accounts.

Examples of Excluded Accounts in a sentence

Each Loan Party shall provide the Lender with prompt written notice upon establishing any Deposit Account or Securities Account (other than Excluded Accounts) and shall take all actions necessary to establish the Lender’s control of each such Deposit Account or Securities Account (other than an Excluded Account).
Subject to Section 7.04 of the Guarantee and Security Agreement, a control agreement with respect to each of the Deposit Accounts and Securities Accounts (other than Excluded Accounts (as defined in the Guarantee and Security Agreement)) required to be delivered by the Guarantee and Security Agreement, duly executed by each of the parties thereto.
The Company shall not, and shall not permit any of its Subsidiaries to, do any of the following: (a) Permit, at any time, the aggregate amount of cash and Cash Equivalents held or owned by all Foreign Subsidiaries to exceed $10.0 million (or the equivalent thereof in any foreign currency) in the aggregate when combined with all amounts held in Excluded Accounts.

More Definitions of Excluded Accounts

Excluded Accounts has the meaning assigned to such term in the Security Agreement.

Excluded Accounts has the meaning set forth in Section 5.14(b).

Excluded Accounts is defined in Section 5.5.

Excluded Accounts has the meaning assigned to such term in Section 6.16.

Excluded Accounts means deposit accounts solely for the purposes of payroll, trust, and tax withholding funded in the ordinary course of business, so long as no other amounts are deposited or maintained in such accounts, and any Term Loan Priority Account (as defined in the Intercreditor Agreement).

Excluded Accounts is defined in Section 6.6(b).

Excluded Accounts means deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the employees of Borrower and its Subsidiaries.