Material Account definition

Material Account means any Deposit Account or Securities Account of a Loan Party other than any Excluded Account.
Material Account means any bank account, securities account or commodities account of any Obligor, including in any case any account into which proceeds from any Securitization Transaction (including, but not limited to, the Existing Securitization Facility) are deposited, but excluding (a) any “Controlled Account” under and as defined in the documents evidencing the Existing Securitization Facility as in effect as of the Agreement Date and any similar account under any Securitization Transaction, (b) any Like-Kind Exchange Account, (c) any account which is exclusively used for disbursement purposes (including payroll accounts) and (d) other accounts to the extent the aggregate amount of funds on deposit therein does not exceed $25,000,000.
Material Account means all deposit, securities or other investment accounts in the name of any Loan Party to the extent that (x) customer payments are deposited in such account in the ordinary course of business and the average daily balance of any such account for any calendar month exceeds $250,000, (y) the average daily balance of any such account (or market value of such account), for the most recently completed six calendar months exceeds $500,000 or (z) the balance at any time exceeds $1,000,000.

Examples of Material Account in a sentence

  • There are no proceedings or actions known to Customer which are pending or threatened against any Material Account Debtor (as defined in Section 7.14(B) of this Agreement) of any of the Accounts which could reasonably be expected to result in a Material Adverse Effect on the debtor's ability to pay the full amounts due to Customer.

  • Schools have flexibility in choosing to fund the following: Instructional Material Account (IMA), General Supplies, Teacher Activity Differential, Testing Coordinator Differential, Registration Adviser Time, Classified Substitute Time, Temporary Personnel Account, Assistant Principals Elementary and Secondary only (not AP SCS), Office Technician positions above the Modified Consent Decree requirement, Building & Grounds Workers, and School Facilities Attendants.

  • There are no proceedings or actions known to Customer which are pending or threatened against any Material Account Obligor (as defined in Section 7.14(B) of this Agreement) of any of the Accounts which could reasonably be expected to result in a material adverse effect on the obligor's ability to pay the full amounts due to Customer.

  • Schools have flexibility in choosing to fund the following: Instructional Material Account (IMA), General Supplies, Teacher Activity Differential, Testing Coordinator Differential, Registration Adviser Time, Classified Substitute Time, Temporary Personnel Account, Assistant Principals, Office Technician positions above the Modified Consent Decree requirement, Building & Grounds Workers, and School Facilities Attendants.

  • There are no proceedings or actions known to Borrower or any Guarantor which are pending or threatened against any Material Account Debtor (as defined in Section 7.14(B) of this Agreement) of any of the Accounts or Acquired Accounts which could reasonably be expected to result in a Material Adverse Effect.


More Definitions of Material Account

Material Account means any bank account or securities account of any Obligor, including in any case any account into which proceeds from any Qualified Receivables Transaction (including, but not limited to, the Existing Securitization Facility) are deposited, but excluding (a) any “Controlled Account” under and as defined in the documents evidencing the Existing Securitization Facility as in effect as of the Original Agreement Date, (b) any Like-Kind Exchange Account, (c) any account which is exclusively used for disbursement purposes (including payroll accounts) and (d) other accounts to the extent the aggregate amount of funds on deposit therein does not exceed $2,500,000.
Material Account means any deposit account or securities account other than (a) any deposit account exclusively used for payroll, Taxes, escrow, employee benefits or other fiduciary purposes, (b) any deposit account that is a zero dollar balance account that is, by its terms, swept at least once every two Business Days, and (c) any deposit account or securities account except to the extent the aggregate amount contained in all deposit accounts and securities accounts (other than deposit accounts described in (a) and (b) above) is more than $3,000,000 at any one time during the prior 12-month period (in which case the Borrower shall identify as Material Accounts those deposit accounts and securities accounts as are necessary so that the $3,000,000 threshold is not then exceeded).
Material Account means (a) with respect to CatchMark Timber, each Equity Raise Account and (b) with respect to each of the other Loan Parties, each deposit, securities or commodities account (and all replacement accounts) of such Loan Party, including the Revenue Account and the CatchMark TRS Subsidiary Account, other than any Excluded Account.
Material Account means any Deposit Account (other than Excluded Accounts) or Securities Account of a Grantor (i) listed on Schedule 4.13, (ii) that serves as the functional replacement of a Deposit Account or Securities Account listed on Schedule 4.13, (iii) that regularly receives payments from customers on any material contract that are not transferred to another account that constitutes a Material Account within one Business Day of receipt thereof or (iv) with a minimum daily average balance of at least $5,000,000 (other than any disbursement account that is primarily used to make vendor or other third party payments and
Material Account means with respect to each Loan Parties, each InvestLine Account and each deposit, securities or commodities account (and all replacement accounts) of such Loan Party, including the Revenue Account and the CatchMark TRS Subsidiary Account, but excluding any Excluded Account of such Loan Party.
Material Account means any deposit or securities account of any Loan Party, other than any zero-balance, payroll, employee benefit account or cash collateral account constituting a Permitted Lien and any accounts having an aggregate balance of not more than $10,000,000.
Material Account means any bank account, securities account or commodities account of any Grantor, including in any case any account into which proceeds from any Securitization Transaction (including, but not limited to, the Existing Securitization Facility) are deposited, but excluding (a) any “Controlled Account” under and as defined in the documents evidencing the Existing Securitization Facility and any similar account under any Securitization Transaction, (b) any Like-Kind Exchange Account, (c) any account which is exclusively used for disbursement purposes (including payroll accounts) and (d) other accounts to the extent the aggregate amount of funds on deposit therein does not exceed $25,000,000.