SVB Accounts definition

SVB Accounts means the following accounts maintained by Borrower with Silicon Valley Bank (“SVB”): (i) that certain money market account numbered 3300712583, used to secure a Forty Thousand Dollar ($40,000) credit card facility issued by SVB to Borrower; and (ii) that certain Certificate of Deposit numbered 8800063224, used to secure a letter of credit in the amount of Thirty Thousand Dollars ($30,000), issued for the benefit of Borrower’s landlord.

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SVB Accounts means those accounts and related rights to payment sold by PSI to SVB.

SVB Accounts is defined in the Schedule.

Examples of SVB Accounts in a sentence

Borrower shall maintain its primary depository, operating and investment accounts with Bank or Bank’s Affiliates (covered by satisfactory control agreements); provided that Borrower shall be permitted to maintain, without control agreements, the SVB Accounts.
Within 90 days of the date hereof, Borrower shall cause substantially all amounts owing to Borrower to be paid directly into the SVB Accounts.
Within 45 days of the date hereof, Borrower shall have notified all account debtors to make payments to Borrower through the SVB Accounts.
Until the occurrence of an Event of Default, Borrower shall have access to the SVB Accounts, and may transfer amounts from the SVB Account.
For sake of clarity, but subject to the preceding requirements and limitations, Borrower (A) shall be permitted to maintain the SVB Accounts indefinitely, and (B) must close the Square 1 Accounts within ninety (90) days of the Closing Date.
After the occurrence of an Event of Default, Agility shall have sole and exclusive control over the SVB Accounts.
Borrower shall maintain its principal depository and operating accounts with Bank (the "SVB Accounts").
Notwithstanding anything written above, Section 4(c) will be considered completed when both the Bank of America and Glacier Bank of Montana accounts have been closed, and Borrower has received over $150,000 of Accounts Receivable into the SVB Accounts.
Notwithstanding the foregoing, Borrower may maintain the Existing SVB Accounts for up to fifteen (15) days after the Effective Date, without being subject to Account Control Agreements.
The provisions of this Section 3(v) shall not apply to the SVB Accounts so long as the SVB Security Agreement remains in effect.

More Definitions of SVB Accounts

SVB Accounts has the meaning set forth in Section 4.16.

SVB Accounts is defined in Section 6.8(b).

SVB Accounts means the sum of all accounts maintained by Borrower at Bank or at SVB Securities and for which Bank has obtained a Control Agreement.