GDA Account definition

GDA Account means the account in the name of the Guarantor LP (branch number 00002, account number 00002-003:106-662-0) held with the Account Bank and maintained subject to the terms of this Agreement, the Bank Account Agreement and the Security Agreement and includes such additional or replacement account(s) as may be for the time being be put in place for the Guarantor LP with the prior consent of the Bond Trustee and designated as such (including the Standby GIC Account);
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GDA Account means the account in the name of the Guarantor held with BMO and maintained subject to the terms of the Guaranteed Deposit Account Contract, the Bank Account Agreement, the Security Agreement and the Guarantor Agreement or such additional or replacement account (including the Stand-By GDA Account) as may be for the time being be in place pursuant to the Cash Management Agreement with the prior consent of the Bond Trustee and designated as such; GDA Account Mandate means the bank account mandate between the Guarantor and the Account Bank relating to the operation of the GDA Account in or substantially in the form set out in Schedule 1 to the Bank Account Agreement; GDA Balance means, on any day, the amount standing to the credit of the GDA Account as at the opening of business on such day; GDA Provider means BMO in its capacity as GDA provider or any successor GDA provider appointed from time to time;
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Examples of GDA Account in a sentence

  • The Excess Proceeds will thereafter form part of the Charged Property and, if deposited into the GDA Account, will be used by the Guarantor in the same manner as all other funds from time to time standing to the credit of the GDA Account and distributed in accordance with the applicable Priorities of Payments.

  • Subject to the provisions of the Standby Bank Account Agreement, the Standby GDA Provider agrees to accept and credit to the Standby GDA Account such sums in accordance with its customary banking practices and the other terms hereof.

  • As and from the date of such Guarantor Acceleration Notice, the Standby GDA Provider shall comply with the directions of the Bond Trustee in relation to the Standby GDA Account.

  • On each Guarantor Payment Date, the Guarantor or the Cash Manager on its behalf will transfer funds from the GDA Account (or, as applicable, the Standby GDA Account) to the Transaction Account (or, as applicable, the Standby Transaction Account) in accordance with Article 6 (Priorities of Payments) of the Guarantor Agreement.

  • The GDA Provider confirms that (on the instructions of the Guarantor (or the Cash Manager on its behalf)) the GDA Account has been opened in its books in the name of the Guarantor, and it agrees to accept on deposit in the GDA Account all monies transferred, from time to time, to the GDA Account, subject to and upon the terms of this Agreement, the Bank Account Agreement, the Cash Management Agreement and the Security Agreement.

  • The charges shall be payable at the same rates as are generally applicable to the business customers of the Account Bank provided that, subject to Section 7.5, if there are insufficient funds standing to the credit of the GDA Account to pay such charges, the Account Bank shall not be relieved of its obligations in respect of any of the Guarantor Accounts held with it.

  • As and from the date of such Guarantor Acceleration Notice, the GDA Provider shall comply with the directions of the Bond Trustee in relation to the GDA Account.

  • Amounts paid by the Seller pursuant to such option will be deposited into the GDA Account (or, as applicable, the Standby GDA Account).

  • The GDA Provider confirms that (on the instructions of the Guarantor) the GDA Account has been opened in its books in the name of the Guarantor, and it agrees to accept on deposit in the GDA Account all monies transferred, from time to time, to the GDA Account, subject to and upon the terms of this Agreement, the Bank Account Agreement, the Cash Management Agreement, the Security Agreement and the Guarantor Agreement.

  • As and from the date of such Guarantor Acceleration Notice, the GDA Provider shall comply with the directions of the Bond Trustee in relation to the GDA Account given in accordance with this Agreement.