Restricted Account definition

Restricted Account means an account at ▇▇▇▇▇ Fargo Bank, N.A. associated with the Loan to which Borrower’s access is restricted. Capitalized terms used in these Additional Terms and Conditions to Disbursement Instruction Agreement and not otherwise defined herein shall have the meanings given to such terms in the body of the Agreement.
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Restricted Account shall have the meaning set forth in Section 9.1 hereof.
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Restricted Account means that certain deposit account (as defined in Section 9-102 of the Uniform Commercial Code as in effect in the State of New York on the date hereof) described on Exhibit B hereto, which Restricted Account shall be maintained at the Bank and shall be in the sole dominion and control of Laurus;
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Examples of Restricted Account in a sentence

  • No Deposit Accounts or other accounts of any Loan Party shall at any time constitute Restricted Accounts other than accounts expressly indicated on Schedule 6.14 as being Restricted Accounts (and each Loan Party hereby represents, warrants and covenants that each such Deposit Account shall at all times meet the requirements set forth in the definition of Restricted Account to qualify as a Restricted Account).

  • The amount of any Restricted Funds shall be deemed a prepayment of the Loans and shall reduce the outstanding principal amount of the Loans; provided, that any Restricted Funds shall bear interest at a rate per annum equal to the Restricted Account Rate and the Borrower shall pay to the Administrative Agent, in arrears, interest accrued on any Restricted Funds on each applicable Interest Payment Date.


More Definitions of Restricted Account

Restricted Account means the restricted account known as the Industrial Assistance Account created in Section 63N-3-103.
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Restricted Account. As defined in the Mortgage Loan Agreement.
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Restricted Account means the Motion Picture Incentive Account created in Section 63N-8-103.
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Restricted Account means an account of the Adviser in which Employees own a Beneficial Interest of 25% or more.
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Restricted Account means the restricted account known as the Industrial
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Restricted Account means a deposit account maintained by any Grantor with a Restricted Account Bank which account is the subject of an effective Restricted Account Letter, and includes all monies on deposit therein and all certificates and instruments, if any, representing or evidencing such Restricted Account.
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Restricted Account shall have the meaning set forth in the Cash Management Agreement.
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