U.S. Blocked Account definition

U.S. Blocked Account as defined in subsection 4.16(c).
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U.S. Blocked Account means a Blocked Account established by the US Borrowers with the Administrative Agent.
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U.S. Blocked Account shall have the meaning provided in Section 8.13(a)(i).
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Examples of U.S. Blocked Account in a sentence

  • Each of US Borrowers and the Administrative Agent agree that the US Blocked Account is a "deposit account" within the meaning of 9-102(a)(29) of the UCC and that for purposes of Section 9-304 of this UCC, the State of New York shall be the jurisdiction of the Administrative Agent.

  • All monies, checks and other drafts received in the US Lockbox shall be endorsed in accordance with the Lockbox Agreement and deposited by the Administrative Agent each Business Day in the US Blocked Account.

  • If a U.S. Blocked Account is not maintained with Bank of America, Agent may, during any Cash Dominion Trigger Period, require immediate and daily transfer of all funds in such account to a U.S. Blocked Account maintained with Bank of America or to a U.S. Dominion Account.

  • All monies, checks and other drafts received in the US Lockboxes shall be endorsed in accordance with the applicable Lockbox Agreements and deposited by the US Lockbox Banks each Business Day in the US Blocked Account.

  • The US Borrowers acknowledge and agree that so long as this Agreement is in effect or any Lender Indebtedness shall be outstanding, all funds received by any US Credit Party from any source shall be deposited in the US Blocked Account not later than one Business Day following the date of receipt.

  • All funds received by the Administrative Agent in the US Blocked Account shall be applied to the Lender Indebtedness in the manner set forth in Section 2.9(c) herein.

  • Section 4.5 Establishment of US Blocked Account............................................................

  • All monies, checks and other drafts received in the US Lockbox shall be endorsed in accordance with the Lockbox Agreement and deposited by the US Lockbox Bank each Business Day in the US Blocked Account.

  • In applying any amounts under this Section 2.11(h), amounts on deposit in the US Blocked Account which represent amounts that have been deposited to the US Blocked Account as amounts payable to a US Borrower, and proceeds of Collateral of a US Borrower, shall, in each case, be applied first against such of the relevant Lender Indebtedness as has been allocated to such US Borrower, and second, against such of the relevant Lender Indebtedness as has been guaranteed by such US Borrower.

  • In applying any amounts under this Section 2.11(h), amounts on deposit in the US Blocked Account which represent amounts that have been deposited to the US Blocked Account as amounts payable to the US Borrowers, and proceeds of Collateral of the US Borrowers, shall, in each case, be applied first against such portion of the relevant Lender Indebtedness as has been allocated to the US Borrowers, and second, against such portion of the relevant Lender Indebtedness as has been guaranteed by the US Borrowers.


More Definitions of U.S. Blocked Account

U.S. Blocked Account means a deposit account located in the U.S. that is subject to a U.S. Control Agreement.
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Related to U.S. Blocked Account

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

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

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Blocked Account Control Agreement means the Cash Management Agreement among Borrower, Cash Management Account Bank and Lender providing for the exclusive control of the Cash Management Account and all other Subaccounts by Lender, substantially in the form of Exhibit A or such other form as may be reasonably acceptable to Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • 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”.

  • 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.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • 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.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.

  • Collection Account Control Agreement means the Amended and Restated Collection Account Control Agreement, dated as of the date hereof, among the Borrower, the Servicer, the Administrative Agent and the Collection Account Bank, substantially in the form of Exhibit D-3 hereto, as amended, modified or supplemented from time to time.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Spread Account Agreement The Spread Account Agreement, dated as of March 25, 1993, as thereafter amended and restated, among the Seller, AFL, the Security Insurer, the Collateral Agent and the trustees specified therein, as the same may be amended, supplemented or otherwise modified in accordance with the terms thereof.

  • 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.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance reasonably satisfactory to the Administrative Agent.

  • 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.

  • Deposit Account Control Agreement means an agreement in a form that is reasonably satisfactory to the Administrative Agent establishing the Administrative Agent’s Control with respect to any Deposit Account.

  • Deposit Account Control Agreements means the deposit account control agreements or blocked account agreements in a form that is reasonably satisfactory to the Agent to be executed by each institution maintaining a deposit account or securities account for any of the Credit Parties, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations to the extent required by Section 4.14(g) or any other provision of this Agreement or any Other Document.

  • Securities Account Control Agreement shall have the meaning ascribed thereto in the Sale and Servicing Agreement.

  • 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).

  • Account Agreement means the agreements for the operation of the Account.