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).
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 has the meaning assigned to such term in the Security Agreement.

Examples of Excluded Accounts in a sentence

  • On or before ninety (90) days after the Effective Date (or such later date as may be agreed by the Administrative Agent in its sole discretion), each Credit Party shall have delivered to the Administrative Agent each Deposit Account Control Agreement required to be provided pursuant to Section 4.10 of the Pledge Agreement with respect to any deposit account maintained by any Credit Party as of the Effective Date (other than any Excluded Accounts).


More Definitions of Excluded Accounts

Excluded Accounts has the meaning set forth in Section 5.14(b).
Excluded Accounts means Deposit Accounts (i) containing solely Excluded Amounts or (ii) specially and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for any Grantor’s or its Subsidiaries’ employees.
Excluded Accounts is defined in Section 5.5.
Excluded Accounts is defined in Section 6.6.
Excluded Accounts shall have the meaning assigned to such term in Section 5.12(a).
Excluded Accounts means (1) payroll, healthcare and other employee wage and benefit accounts, (2) sales, payroll and similar tax trust accounts, (3) escrow, defeasance and redemption accounts, (4) fiduciary or trust accounts, (5) disbursement accounts, (6) accounts subject to cash pooling arrangements, (7) zero balance accounts and (8) the funds or other property held in or maintained for such purposes in any such account described in clauses (1) through (7).
Excluded Accounts means (a) any deposit account where the balance thereof does not exceed $20,000 at any one time, provided that the aggregate amount on deposit in all such accounts does not exceed $100,000 at any one time and (b) deposit accounts specially and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for employees of the Loan Parties or any of their Subsidiaries.