Local DDA definition
Local DDA. A depository account maintained by the Borrower, the only contents of which may be transfers from the Funding Account and actually used solely (i) for ▇▇▇▇▇ cash purposes; or (ii) for payroll.
Local DDA. Those local demand depository accounts maintained by one or more of the Borrowers for specified purposes, all as particularly detailed in EXHIBIT 1-1(B) annexed hereto, as such exhibit may be amended from time to time by the Borrowers.