Feeder Accounts definition
Feeder Accounts means accounts which are charged to the Agent pursuant to any Security Document but with respect to which the account - holding bank has not acknowledged any notice of the relevant Security Interest or entered into any agreement with the Agent with respect thereto.
Examples of Feeder Accounts in a sentence
Each Obligor will procure that all credit balances in the Feeder Accounts are transferred to a Blocked Account on a weekly basis (or at such shorter intervals as the Agent may require).
The Borrowers maintain no Bank Accounts other than the Concentration Account, the Feeder Accounts and the Operating Accounts.
No Obligor will open or maintain any account of any type with any bank or financial institution providing like services other than the Charged Accounts and the Feeder Accounts.