Locked Account definition

Locked Account shall have the meaning set forth in Section 5(f).
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Locked Account is defined in Section 6.16(a).”
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Locked Account means a Member Locked Account and/or Employer Locked Account or both as the context requires.
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Examples of Locked Account in a sentence

  • Provided that no Event of Default (other than the Disputed Defaults or Potential Defaults) has occurred and is continuing, upon the occurrence of the Successful Funding Event, Administrative Agent shall authorize the transfer of all funds in the Locked Account into another account of the Loan Parties which is subject to an Account Control Agreement in favor of the Secured Parties, and this Section 6.16(a) shall have no further force or effect.

Related to Locked Account

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, Performance Guarantor, Servicer, Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).