Holding Account definition

Holding Account means an interest-bearing deposit account belonging to the Agent for the benefit of the Lenders into which the Borrower may be required to make cash deposits pursuant to the provisions of this Agreement, such account to be under the sole dominion and control of the Agent and not subject to withdrawal by the Borrower, with any amounts therein to be held for application toward payment of any outstanding Letters of Credit when drawn upon.
Holding Account means an account:
Holding Account shall have the meaning set forth in Section 3.1.1.

Examples of Holding Account in a sentence

  • Seller shall pay all taxes imposed by any Governmental Authority (“Governmental Charges”) with respect to Products transferred in a Transaction that arise before Buyer receives such Products in Buyer’s Holding Account.

  • The Buyer irrevocably undertakes, in favour of the Seller, upon being notified by the Escrow Bank of the opening of the Holdback Account by the Escrow Bank, to procure the transfer of £1,000,000 from the Holding Account to the Holdback Account.

  • Recalling that the Directing Council had authorized expenditure from the Holding Account for project 3.D of up to $10 million, he added that once the project was included in the implementation summary, then the total for the column “Authorized from Holding Account” would be $25.290 million (i.e. the total amount originally placed in the account), from which would be subtracted all the amounts in the “Implemented” column.

  • Payment for the Notes must be made online @ TheFingerPrintExperts.com: Name of Offering All funds received from subscribers will be placed in a segregated Holding Account of the Company.

  • It had also heard an overview of the Financial Report of the Director for 2010 and received updates on PAHO’s implementation of the International Public Sector Accounting Standards and on the status of projects funded from the PAHO Holding Account and the Master Capital Investment Fund.

More Definitions of Holding Account

Holding Account means the account established and maintained as such pursuant to Section 5.01.
Holding Account means the “Holding Account” and various sub-accounts to the Holding Account established pursuant to the Loan Agreement (Mortgage) as in effect on the date hereof.
Holding Account refers to the account that holds funds eligible and awaiting investment into a Risk Control Account in accordance with the terms of the Policies, which account shall be part of the Company’s General Account. The assets in the account accrue interest at a rate declared by the Company subject to a guaranteed minimum rate.
Holding Account or “General Holding Account” means an account created for each covered entity, opt-in covered entity, or voluntarily associated entity to hold compliance instruments.
Holding Account means the form of record maintained by and in the relevant Registry to record the allocation (if applicable), Transfer and holding of Allowances;
Holding Account means the account number 0000000, sort code 30-00-02 entitled "Bluewater Energy N.V. Uisge Gorm/Glas Dowr/Bleo Xxxx/Haewene Brim Account" opened or to be opened by Bluewater Energy with the Deposit Bank, the operation of which is to be governed by the Holding Account Deed; and all references in the Bleo Xxxx Topsides Head Lease to the "Holding Account" shall, with effect from the date of this Deed, be deemed to be references to the "Holding Account" defined above;