SD Account definition

SD Account means any of the Company’s accounts (including any future accounts that SD generates for the Company) that is either an Original SD Account or a New SD Account. On any particular date, an account that is otherwise an SD Account is no longer deemed such if, on such date, more than 180 days have elapsed since the account was last tested by the Company. In addition, with respect to the Original SD Accounts, until more than 180 days have elapsed from the date of this Operating Agreement, no such account will lose its status as an SD Account. An SD Account that is no longer deemed such for lack of testing by the Company during the aforesaid 180-day period may again be deemed an SD Account by meeting the conditions for becoming and remaining such account in this Operating Agreement.
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SD Account means any one of the accounts opened by the Bank pursuant to Clause 2.4 above;
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SD Account means an interest bearing deposit account with Barclays Bank plc in the name of the Purchaser’s Lawyers;
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Examples of SD Account in a sentence

  • An SD Account Ownership Transfer means a sale of the SD Accounts in effect at the time of any such sale.

  • Notwithstanding anything in this Agreement to the contrary, neither the Company nor PHS may engage in either of the following transactions before the third anniversary of the date of this Agreement without the prior written consent of SD: (a) a PHS Ownership Transfer (as defined below); and (b) an SD Account Ownership Transfer (as defined below).

  • The provisions of the SD Account Agreement and of this agreement relating to the SD Amount and the SD Account shall not prejudice the rights of the Purchaser to make any Claim or limit the amount of any such Claims.

  • That component of the Purchase Price specified in paragraph 2 shall be due and payable to the SD Account as follows: The commission payments received by SD in the years 2009 to 2012 pursuant to § 9 below will initially be credited toward the component of the Purchase Price specified in paragraph 2.

  • Account: 3227872225 IBAN: dk9530003227872225 SWIFT: ▇▇▇▇▇▇▇▇ with: Danske Bank That component of the Purchase Price specified in paragraph 1 b) (Inventories) shall be due and payable to the SD Account in six monthly installments, each of which installments is to be made within the 60 calendar days following the end of each calendar month as of March 2009.

  • The Purchaser and the Seller shall promptly give all necessary written instructions to the Purchaser’s Lawyers to effect releases from the SD Account in accordance with this schedule and the terms of the SD Account Agreement.