Seller Deposit Account definition

Seller Deposit Account means an account established and maintained by either or both of Australian Sellers as the account into which all amounts that are or become payable to Australian Sellers under the Commercialization Agreement shall be deposited by Licensee. As of the Closing Date, the “Seller Deposit Account” shall be: [**]
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Seller Deposit Account means an account of the Seller maintained at a Deposit Bank for the purpose of receiving Collections after a Special Event.
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Seller Deposit Account has the meaning set forth in Section 8.07(b).
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Examples of Seller Deposit Account in a sentence

  • Amounts deposited into the Seller Deposit Account shall be in United States dollars.

  • Aggregate funding flows to the PRIs have increased significantly (47 percent between 2010 and 2015) at the time that mandatory annual financial audits and M&E systems have been put in place to ensure better controls and accountability.

  • Upon receipt by Australian Sellers from Licensee of amounts in respect of the Royalty Interest, Australian Sellers shall instruct the bank holding the Seller Deposit Account to transfer such amounts from the Seller Deposit Account into the Buyer Deposit Account on the second Business Day after such amounts are received in the Seller Deposit Account.

  • Australian Sellers shall irrevocably instruct Licensee to remit all Royalty Interest amounts payable to Sellers pursuant to the Commercialization Agreement into the Seller Deposit Account, and Australian Sellers shall irrevocably instruct the bank holding the Seller Deposit Account to transfer such Royalty Interest amounts from the Seller Deposit Account into the Buyer Deposit Account, in each case pursuant and subject to Section 5.11.

  • No Seller shall close, change or otherwise modify the Seller Deposit Account or open a new deposit account for remittance of the amounts payable pursuant to the License Agreements without the prior written consent of Buyer.

  • Upon execution of this Agreement, the Purchaser shall deposit an amount in cash equal to Twenty Five Million United States dollars (US$25,000,000) in the Seller Deposit Account (the "DEPOSIT").

  • The Seller Deposit Account shall be used for the deposit of funds set aside pursuant to Section 1.03(e), to the extent required by such Section.

  • After the occurrence of a Special Event and prior to instructing the Obligors to remit all Collections to a Seller Deposit Account following the occurrence of an Event of Termination or a Designated Event as required by Section 3.03(b), the Seller shall deposit or cause to be deposited all Collections of Pool Receivables into the FMC Deposit Accounts and shall cause such amounts to be promptly (and in any event within one (1) Business Day after receipt) remitted to a Seller Deposit Account.

  • No deposit of funds in the Seller Deposit Account shall be deemed to reduce the Purchaser's Total Investment, unless and until such funds are actually paid to Servicer and by Servicer to the Administrator in accordance with Section 1.03 or 3.01.

  • Funds on deposit in the Seller Deposit Account shall be invested only in accordance with the Account Pledge Agreement, and the income from such investments shall be added to the balance in such account, provided that the balance in such account shall be released to Seller on each Monthly Settlement Date in accordance with the Account Pledge Agreement on the conditions set forth therein.


More Definitions of Seller Deposit Account

Seller Deposit Account means one or more deposit accounts to be designated by Seller in a written notice to Purchaser at least two Business Days prior to the date the applicable payment is to be made; provided that, if, following the Closing Date, no new deposit account(s) is/are designated by Seller, Purchaser shall deposit the applicable payment in the deposit account(s) last designated by Seller.
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Related to Seller Deposit Account

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • 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.

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

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

  • 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.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • 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.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Initial Reserve Account Deposit Amount means an amount equal to $29,411,740.05.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

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

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.