Exempt Securities Accounts definition
Exempt Securities Accounts. (a) payroll, trust, and benefit securities accounts, (b) securities accounts, so long as the aggregate average weekly balances therein do not exceed $1,000,000 at any time, and (c) securities accounts specially and exclusively used to cash-collateralize Letters of Credit to the extent permitted pursuant to the Credit Agreement in an aggregate amount not to exceed $250,000.
Exempt Securities Accounts means each and every Securities Account the average aggregate overnight balances in which do not exceed $1,000,000 during any period of seven consecutive days and, the aggregate balances in all such accounts do not exceed $5,000,000 at any time.
Exempt Securities Accounts. (i) the Securities Accounts or Securities Entitlement of the Grantors (combined with the aggregate amount deposited in Exempt Deposit Accounts of the Grantors referred to in clause (iv) of the definition thereof) that in the aggregate contain less than $1,000,000 at anytime and (ii) Securities Accounts subject to Liens under Sections 7.3(c), (d), or (r) of the Credit Agreement.