Restricted Accounts means Deposit Accounts (a) established and used (and at all times will be used) solely for the purpose of paying current payroll obligations of Loan Parties (and which do not (and will not at any time) contain any deposits other than those necessary to fund current payroll), in each case in the Ordinary Course of Business, or (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are solely held for the benefit of, and owned by, employees (and will continue to be so held and owned) pursuant to such plan.
Restricted Accounts means the Participation Account and the Pledged Account.
Restricted Accounts means deposit accounts or other accounts (a) established and used (and at all times will be used) solely for the purpose of paying current payroll obligations of Loan Parties (and which do not (and will not at any time) contain any deposits other than those necessary to fund current payroll), in each case in the ordinary course of business, (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are solely held for the benefit of, and owned by, employees (and will continue to be so held and owned) pursuant to such plan, and (c) used in the ordinary course of business for xxxxx cash, the balance of which shall not exceed $50,000 in the aggregate at any time; provided, that, without limiting the foregoing, in order for any such deposit account or other account to constitute a “Restricted Account”, such deposit or other account must be expressly designated as a “Restricted Account” on Schedule 5.23 (as such schedule may from time to time be updated in accordance with Section 5.23), which designation shall constitute a representation and warranty by each Loan Party that such deposit account or other account satisfies the criteria set forth in this definition to constitute a “Restricted Account”.
Examples of Restricted Accounts in a sentence
SCHEDULE 3 BANK ACCOUNTS Operating Accounts GBP Current Account Name: ELEIA LIMITED Sort code: Account Number: IBAN: EUR Current Account Name: ELEIA LIMITED Sort code: Account Number: IBAN: Restricted Accounts None as at the date of this Debenture.
Interest earned on my Restricted Account(s) must be deposited directly into the account(s).
Restricted Accounts Some accounts have transaction limitations or restrictions.
Correspondent covenants that it shall ensure that any affiliate or subsidiary of Correspondent complies with this Section V.B.1. Elan shall have the exclusive right to market and issue the Restricted Accounts bearing or using the Correspondent name or any name used by any affiliate or subsidiary of Correspondent or any other Correspondent Marks.
If my CalFresh benefits stop for any reason, and if I reapply for CalFresh benefits, and there is a break in benefits, my total countable resources, including any money in the Restricted Account(s), cannot be more than the $2,000/$3,250 resource limit.
More Definitions of Restricted Accounts
Restricted Accounts means the Seller’s Account, the Lock-Box Accounts, the Concentration Account, the Sweep Account and the Cash Assets Account.
Restricted Accounts means Deposit Accounts (a) established and used (and at all times will be used) solely for the purpose of paying current payroll obligations of Loan Parties or the Parent, payroll taxes, worker’s compensation or unemployment compensation, pension benefits and other similar expenses to or for the benefit of any employees and accrued and unpaid employee compensation (including salaries, wages, benefits and expense reimbursement) (and which do not (and will not at any time) contain any deposits other than those necessary to fund current payroll or expenses to or for the benefit of employees), in each case in the Ordinary Course of Business, (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are solely held for the benefit of, and owned by, employees (and will continue to be so held and owned) pursuant to such plan, (c) used specifically and exclusively for taxes required to be collected or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof), taxes owing to any governmental unit thereof, sales, use and excise taxes, customs duties, import duties and independent customs brokers’ charges) for which the Loan Parties or Parent may become liable, (d) which, individually or in the aggregate with all other accounts under this clause (d), does not have an aggregate balance which exceeds $100,000 at any time, or (e) solely with respect to the Parent, used solely in connection with a rabbi trust.
Restricted Accounts means the accounts identified as Restricted Accounts on Schedule 1.01(c);
Restricted Accounts the Accounts of Holdings or any of its Subsidiaries.
Restricted Accounts means (i) the accounts identified as Restricted Accounts on Disclosure Schedule 3.19, (ii) any deposit account holding cash and cash equivalents subject to Liens permitted under Section 6.7(h), Section 6.7(i) or Section 6.7(j) or securing surety or appeal bonds permitted under Section 6.3(a)(viii) and (iii) accounts in which deposits received from potential purchasers in connection with the sale of any aircraft, engine or related equipment by any Borrower prior to any such sale being consummated are placed.
Restricted Accounts means (a) any Deposit Account or Securities Account so long as the balance in such accounts, individually and in the aggregate for all such accounts, does not have an average three (3) Business Day balance in excess of $300,000, (b) any Deposit Account that is solely used for (i) purposes of funding payroll, payroll taxes or employee wage and benefit payments, (ii) taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof)), (iii) funds held in trust, in escrow, as a fiduciary or an amount on deposit for any other Person or (iv) funds constituting cash collateral for Permitted Liens (including any LC Collateral Account) and (c) Deposit Accounts with merchant processors (including PayPal, Stripe, and other similar processors) (“Merchant Processing Accounts”) so long as Borrowers transfer all the funds which are in excess of $2,000,000 in the aggregate to a Deposit Account over which Lender has a Control Agreement within five (5) Business Days of the funds in such Merchant Processing Accounts exceeding $2,000,000 in the aggregate.
Restricted Accounts means Deposit Accounts (a) established and used (and at all times will be used) solely for the purpose of paying current payroll obligations of Loan Parties (and which do not (and will not at any time) contain any deposits other than those necessary to fund current payroll), in each case, in the Ordinary Course of Business, or (b) maintained (and at all times will be maintained) solely in connection with an employee benefit plan, but solely to the extent that all funds on deposit therein are solely held for the benefit of, and owned by, employees (and will continue to be so held and owned) pursuant to such plan.