Primary Deposit Account(s) definition

Primary Deposit Account(s) means a deposit account or deposit accounts established and maintained by the Borrower with Fifth Third Bank.
Sample 1

Examples of Primary Deposit Account(s) in a sentence

  • Second, the FTX Group also regularly transferred funds from the Primary Deposit Accounts to other bank accounts that did not receive customer deposits directly, but that it designated internally as FBO accounts.

  • Finally, the Primary Deposit Accounts received many transfers from other FTX Group accounts, many of which themselves held commingled funds as a result of the FTX Group’s regular practice of transferring funds among its accounts.

  • Notwithstanding these instructions, some customers continued to send their deposits to Alameda bank accounts, which continued to accept them.don’t want to work with us,” and identified numerous banks that had rejected wires to or from North Dimension accounts, Alameda accounts, or both.As with the Primary Deposit Accounts in the name of Alameda, the FTX Senior Executives allowed customer and non-customer funds to be commingled in the North Dimension accounts.

  • Imme- diately after Uvalde, I spoke with Sen- ator MURPHY, who asked me to give ne- gotiators time and space to do their work.

  • These included Alameda-4456, one of the Primary Deposit Accounts, which was initially the FTX Group’s designated account for customers’ U.S. dollar deposits.As a result, from the inception of FTX.com, Alameda’s bank accounts received substantial funds from FTX.com customers.

  • Also like the Primary Deposit Accounts in the name of Alameda, the FTX Group used the North Dimension accounts both to fund customer withdrawals and to fund corporate and other expenditures at the direction, and for the benefit, of the FTX Senior Executives, including in the examples set forth in Section V.

  • The Borrower shall use commercially reasonable efforts to concentrate the cash of the Loan Parties into the Primary Deposit Account(s) on a regular basis.

  • During the term of this Note, Maker shall maintain its Primary Deposit Accounts with the Bank, and shall keep such deposit accounts at all times in good standing.

  • Beginning in April 2021, the FTX Group opened North Dimension-8738 and -8746, two of the Primary Deposit Accounts, and began instructing FTX.com customers to wire funds to them.16By at least September 2021, however, certain customers’ banks had begun questioning, and sometimes rejected, wires to or from the North Dimension accounts.

  • The accounts described here and throughout this report refer to the last four digits of the relevant entities’ account number for simplicity.directly or indirectly by Bankman-Fried, although other FTX Group employees, at times, also controlled them.At the outset, it is important to emphasize that the FTX Group, at the FTX Senior Executives’ direction, used many bank accounts besides the Primary Deposit Accounts to receive customer deposits and fund customer withdrawals.

Related to Primary Deposit Account(s)

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Deposit Account Control Agreements means the deposit account control agreements or blocked account agreements in a form that is reasonably satisfactory to the Agent to be executed by each institution maintaining a deposit account or securities account for any of the Credit Parties, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations to the extent required by Section 4.14(g) or any other provision of this Agreement or any Other Document.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.