PAG Account definition

PAG Account means the PAG Account as established and maintained pursuant to the Holdings LLC Agreement and the proceeds of such Account.
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PAG Account means the Company’s account established initially with Bank Santander, N.A. in which initially will be deposited 18% of the Company’s cash and other investments other than Permitted Working Capital.
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Examples of PAG Account in a sentence

  • Until the PAG Indemnification Satisfaction Date, the Managing Member shall pay all of the cash and investments in the PAG Account to GE Tennessee as required by this Agreement.

  • At any time following the PAG GE Obligations Payment Date, PAG may notify the Company that it wishes to receive distributions that otherwise would have gone into the PAG Account directly, in which event such amount (less any amounts necessary to replenish its Percentage Interest in the Working Capital Account) will be paid by Company Sub directly to PAG and such payment shall be deemed a distribution by Company Sub to the Company and from the Company to PAG.

  • Without the prior written consent of GE Tennessee, PAG shall not suffer, authorize or direct disbursements from the PAG Account or the Transfer of the PAG Account or any Holdings PAG Assets or any PTL PAG Assets except as contemplated by Article 10 of the Holdings LLC Agreement.

  • The PAG Account may be invested in such instruments as permitted in a letter agreement of even date herewith amending the PAG Existing Indemnity Agreement.

  • PAG shall be allocated 100% of all items of income, gain, loss and deduction attributable to the PAG Account, and PTLC shall be allocated 100% of all items of income, gain, loss and deduction attributable to the PTLC Account.

  • Any funds received from PTLC for the benefit of PTLC until the PTLC GE Obligations Payment Date shall be deposited in the PTLC Account and any funds received from PAG for the benefit of PAG until the PAG GE Obligations Payment Date will be deposited in the PAG Account.

  • As soon as practicable following the establishment of the Investment Accounts and the Working Capital Account, the Company will deposit all cash and investments, whether or not cash equivalents, held by it, reduced by the amount of Permitted Working Capital, 82% in the PTLC Account and 18% in the PAG Account.

  • The “Investment Account” of a Bond Indemnitor shall mean the PAG Account or the PTLC Account as applicable.

  • The third party expenses and fees for maintaining and conducting transactions in each of the PAG Account, the PTLC Account and the Working Capital Account shall be paid from the applicable account.

  • Following the PAG GE Obligations Payment Date, the Company may make distributions from the PAG Account to PAG and may direct that payments that would otherwise go into the PAG Account go directly to PAG.