Third Party Deposit Account definition

Third Party Deposit Account means a deposit account maintained by a Loan Party with a Person other than Lender.
Sample 1
Third Party Deposit Account means any account maintained by a Borrower at Lender in which the funds deposited therein have been designated by such Borrower as being held in trust, in escrow or in a custodial capacity for the benefit of third parties or as being reserves for federal low-income housing tax credits under Section 42 of the Internal Revenue Code.
Sample 1

Examples of Third Party Deposit Account in a sentence

  • From the moment of receipt of the Purchase Price in the Third Party Deposit Account until the moment of legal delivery of the Car to the Buyer as referred to in Article 11, the GoCredible Foundation holds the Purchase price for the Buyer.

  • If the Buyer has opted for Payment upon Delivery, the Buyer is obliged to ensure that on the day of Delivery there is sufficient balance and banking limit available to be able to pay the Purchase Price into the Third Party Deposit Account via Internet banking (only via iDeal - payment link of BYNCO).

  • BYNCO and the External Seller shall do all that is necessary to return the Car in the name of the External Seller to the Road Traffic Department (RDW) and refund the Purchase Price to the bank account from which the Purchase Price was paid by the Buyer to the Third Party Deposit Account in accordance with the provisions of Article 6.

  • The Borough of Maywood executed the said Interlocal Agreement at the July 22, 2014 Mayor and Council Meeting.

  • The interim use of any Third Party Deposit Account will not diminish or alter any Borrower’s obligations under this Section 3.

  • Borrowers will use all reasonable commercial efforts to cause all available funds in each Third Party Deposit Account to be transferred each Business Day, at Borrowers’ expense, to the Cash Collateral Account by any method acceptable to Bank, including by depository transfer check (DTC), automated clearing house (ACH) debit, or wire transfer of available funds.

  • Upon Bank’s request, Borrowers shall cause each Third Party Deposit Account to be subject to a Deposit Account Control Agreement in favor of Bank.

Related to Third Party Deposit Account

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

  • 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.

  • 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 Deposits shall have the meaning set forth in Section 5.1.17(e) hereof.

  • 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.

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

  • 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.

  • 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.

  • 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).

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • 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.

  • Controlled Deposit Amount means, for any Distribution Date with respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date.

  • 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”.

  • 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.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • 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).

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Earnest Money Deposit (EMD) means the refundable amount to be submitted by the Bidder along with RFP documents to NMRC

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by Collateral Agent.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.