Excluded DDAs definition

Excluded DDAs means each checking, savings or other demand deposit account maintained by any Loan Party and exclusively used (a) for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees, (b) for the receipt of Medicare and Medicaid receivables of a Loan Party, (c) to hold proceeds of Term Loan Priority Collateral, subject to the Intercreditor Agreement, unless and until the release of the Lien thereon of the Agents, or (d) for the receipt and deposit of funds of a specific Person other than a Loan Party, or which a Loan Party is holding in trust or as a fiduciary for such Person, in each case in a manner permitted under this Agreement or the other Loan Documents.

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Excluded DDAs means any DDA exclusively used (a) for trust, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Borrower’s or Guarantor’s employees, or (b) after the incurrence of Permitted Term Loan Indebtedness, to hold proceeds of Term Loan Priority Collateral, subject to the Term Loan Intercreditor Agreement, unless and until the release of the Lien therein of the Term Loan Agent.

Excluded DDAs shall have the meaning provided in Section 10.9(e);

Examples of Excluded DDAs in a sentence

Open new DDAs (other than Excluded DDAs and Retail DDAs) unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.12 and otherwise satisfactory to the Agent.
The Loan Parties shall cause each of their DDAs and securities accounts not constituting Collection DDAs (other than Excluded DDAs) to be subject to a Depositary Bank Agreement among the applicable Loan Party, the Administrative Agent and the applicable depository bank.
Open new DDAs (other than Excluded DDAs) or Blocked Accounts unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.13 and otherwise reasonably satisfactory to the Agent.
In no event shall any Cash Management Account be included within the Excluded DDAs. If, notwithstanding the provisions of this Section 2.7, any Borrower receives or otherwise has dominion over or control of any Collections, such Borrower shall hold such Collections in trust for Agent and shall not commingle such Collections with any of Borrowers' other funds or deposit such Collections in any account of Borrowers except as instructed by Agent.
Nothing in this Section 7.13 shall (i) constitute the Agent's or any Lender's agreement to fund any amounts into any of the Excluded DDAs or (ii) modify any provision of this Agreement requiring that all proceeds of Collateral and other receipts (whether of cash or otherwise) shall be deposited into a designated Cash Management Account.
Open new DDAs (other than Excluded DDAs) unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.12 and otherwise satisfactory to the Agent.

More Definitions of Excluded DDAs

Excluded DDAs means each DDA of the Borrower and the other Loan Parties in existence on the Closing Date other than the Funding Account and the Collections Accounts.

Excluded DDAs shall have the meaning set forth in the ABL Loan Agreement.

Excluded DDAs means each checking, savings or other demand deposit account maintained by any Loan Party and exclusively used (a) for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees, (b) for the receipt of Medicare and Medicaid receivables of a Loan Party, (c) to hold proceeds of Term Loan Priority Collateral, subject to the Term Loan Intercreditor Agreement, unless and until the release of the Lien therein of the Term Loan Agent, (d) for the receipt and deposit of funds of a specific Person other than a Loan Party, or which a Loan Party is holding in trust or as a fiduciary for such Person, in each case in a manner permitted under this Agreement or the other Loan Documents, or (e) to hold exclusively (i) the SUPERVALU Payment, or (ii) any other amount received in connection with a Pre-Spin Transaction permitted hereunder.

Excluded DDAs appearing in Section 1.01 of the Second Restated Credit Agreement is hereby amended by deleting the word “or” appearing before clause (d) and inserting a new clause (e) at the end thereof, as follows: “, or (e) to hold (x) the SUPERVALU Payment or (y) any other amount received in connection with a Pre-Spin Transaction.”

Excluded DDAs means, to the extent of any Borrower's interest therein: (a) DDAs bearing account numbers 070101310302, 02868511739 or 580100067245, established by one or more Borrowers with Bank of America, National Association; and (b) any replacement DDA designated as such by the Administrative Borrower in writing at least 30 days prior to the establishment of such replacement DDA, in each case so long as Borrowers shall comply with their respective covenants and agreements with respect to such DDA set forth at Section 7.13 of this Agreement.