Sweep Account definition

Sweep Account. The subsidiary Account for each Participant through which all transactions are processed, which is invested in interest bearing deposits of the Trustee.

Sweep Account. Each deposit account or other account into which any payments made by Account Debtor directly related to the Purchased Receivable are collected, remitted or deposited and which is listed on Schedule 3 hereto, as such Schedule 3 may be amended or updated from time to time.

Sweep Account has the meaning assigned to such term in Section 15.1.

Examples of Sweep Account in a sentence

• If such person subsequently presents the Administrator with a valid claim for the benefit, such person shall be paid the amount treated as forfeited, plus the interest that would have been earned in the Sweep Account to the date of determination.

• Each Participant's and Beneficiary's Sweep Account, which is used to hold assets pending investment or disbursement, shall consist of interest bearing deposits of the Trustee.

• All activity with respect to your Sweep Account balance, including interest earned for the period covered, will appear on that statement.

• The BWIS registered representatives receive no fees for your participation in the Sweep Account.

• You should compare the terms, rates of return, required minimum amounts, charges and other features of the Sweep Account with other accounts and investment alternatives.

More Definitions of Sweep Account

Sweep Account means an account with and controlled by Administrative Agent for the benefit of the Lenders into which all Excess Cash Flow shall be transferred in accordance with Section 8.5(b).

Sweep Account means any account or accounts of Borrowers established with Lender pursuant to the Sweep Account Agreement, now or in the future.

Sweep Account shall have the meaning specified in SECTION 4.1(a).

Sweep Account has the meaning set forth in Section 6.

Sweep Account means each account listed on a supplemental Schedule II-B to this Agreement (as such schedule shall be provided at such time, if any, that Xxxxx Healthcare becomes an Originator and as may be further modified from time to time in connection with the closing or opening of any Sweep Account in accordance with the terms hereof) (in each case, in the name of an Originator) for the purpose of receiving Collections on Government-Pay Health Care Receivables.

Sweep Account means the Deposit Account of the Seller (account number 00000000, ABA 000000000, Reference: Equistar Receivables II, LLC/A/R Sweep) maintained with Citibank at its office at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Xxxxx Xxxxx, or such other account as the Seller and the Agent may agree.

Sweep Account has the meaning specified in Section 6 of the Security Agreement.