PSL Account definition

PSL Account means the account described in this Section, which tracks each eligible Employee’s accrued and available sick leave days and hours, as the case may be.
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Examples of PSL Account in a sentence

  • The Seller shall not commingle any collections related to any PSL Tranche of PSL Revenues sold hereunder at any time with any other funds, except with respect to funds received in the Clearing Account and transferred to the Holding Account in accordance with the terms hereof and in the Authority PSL Account Agreement.

  • Notwithstanding anything to the contrary contained herein, any disbursement from the Clearing Account in respect of any Chargeback which constitutes a Misapplied Payment shall be subject to the prior approval of the Seller, the Purchaser and the Collateral Agent following their receipt of a Misapplied Payment Disbursement Letter from the Calculation Agent as further described in the Authority PSL Account Agreement.

  • Any transfer from the Authority PSL-Sourced Proceeds Account to the Trust PSL Sourced Proceeds Account made pursuant to the Authority PSL Account Agreement shall be made without any reduction due to the Seller’s obligation to maintain such reserve.

  • As set forth in the Authority PSL Account Agreement, the Depositary Bank shall transfer from the Holding Account to the Authority PSL-Sourced Proceeds Account all PSL Revenues related to the Unsold PSL Tranche.

  • TeamCo will perform all obligations of the Authority set out in the Purchase and Sale Agreement and the Authority PSL Account Agreement, and the Authority shall cooperate, at TeamCo’s cost and expense, with TeamCo in the performance of all such obligations.

  • Pursuant to the Authority PSL Account Agreement, an additional account (the “Authority PSL-Sourced Proceeds Account”) shall be established.

  • Pursuant to the Authority PSL Account Agreement, an account in the name of the Authority (the “Authority PSL-Sourced Proceeds Account”) shall be established.

Related to PSL Account

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;