Secured Bank Account definition

Secured Bank Account means any deposit or securities account which is governed by an Account Control Agreement including, without limitation, the Collections Account.
Sample 1

Examples of Secured Bank Account in a sentence

  • To the extent of the existence and the continuance of a payment Default, the Secured Party shall have the right to withdraw all or any part of the Secured Bank Account and apply the withdrawal toward the payment of the Secured Debt even if the withdrawal causes a penalty.

  • You acknowledge that you specifically intended to grant us the security interest in all funds in the Secured Bank Account, that this security interest is an express condition for your Account and that all funds in your Secured Bank Account must remain on deposit during the term of this Agreement.

  • Borrower hereby indemnifies and holds Lender harmless from and against any liability, loss or damage with respect to any Collection deposited in any Secured Bank Account which is dishonored or returned for any reason.

  • Prior to the occurrence of an Event of Default, Lender may debit the Collections Account (or another Secured Bank Account agreed to by the parties hereto) and apply the amounts so debited to the Obligations that are due and owing as follows: (i) first, to the outstanding payments then due as set forth in each Note and (ii) second, to the outstanding amount then due of any fees and expenses, such as the Facility Fee, the Collateral Monitoring Fee and other fees and expenses.

  • If you have applied and been approved for a Secured/Good Neighbor Card or a Secured MasterCard, you have granted us a security interest in the funds, including any funds deposited following the effective date of this Agreement, in the savings account you maintain with us and designate to secure repayment of your Account (Secured Bank Account).

  • You agree to sign all applications and documents that we may request from time to time which evidence your grant and assignment to us of the security interest in the Secured Bank Account.

  • You acknowledge that you specifically intended to grant us the security interest in all funds in the Secured Bank Account, that this security interest is an express condition for your Account and that funds in your Secured Bank Account must remain on deposit during the term of this Agreement in accordance with the separate Secured Bank Account disclosure provided to you in the application you completed.

  • If you have applied and been approved for a Secured Card, you have granted us a security interest in the funds, including any funds deposited following the effective date of this Agreement, in the savings account you maintain with us and designate to secure repayment of your Account (Secured Bank Account).

  • You agree to sign all applications and documents that we may request from time to time that show that you have granted and assigned to us the security interest in the Secured Bank Account.

  • If you have applied and been approved for a Secured Card, you have granted us a security interest in the funds, including any funds deposited following the effective date of this Agreement, in your Secured Bank Account.

Related to Secured Bank Account

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • 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.

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

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Earnings Account means, in relation to a Ship, an account in the name of the Borrower owning that Ship with the Account Bank designated as the Earnings Account for that Ship, or any other account (with the Account Bank or the Agent or with another bank or financial institution acceptable to the Majority Lenders) for the purpose of receiving all charter hire and other amounts paid under the relevant Time Charter;

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Control Account means a Securities Account or Commodity Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodity Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • 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.

  • Agent Account means such account of the Administrative Agent in New York, New York as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Note Account As defined in the Indenture.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • 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.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.