Examples of Agency Account in a sentence
The Custodian shall further have a right of offset against the balances in any Agency Account maintained hereunder to the extent that the aggregate of all Principal Accounts is overdrawn.
Any credit made to any Principal or Agency Account before actual receipt of cleared funds shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected.
Any credit made to any Principal or Agency Account or any other Fund account before actual receipt of cleared funds shall be provisional and may be reversed by the Custodian or its Sub-custodian in the event such payment is not actually collected.
In addition, any Deposit Account (other than an Excluded Account), securities account or lockbox established after the date hereof shall be subject to an Agency Account Agreement.
Each Credit Party shall at all times maintain Deposit Accounts or securities accounts with depository banks or other financial institutions reasonably acceptable to the Administrative Agent and lockboxes with arrangements reasonably satisfactory to Administrative Agent and all account debtors of the Credit Parties shall be remitting payments to, or shall have been instructed to remit payments to, a Deposit Account subject to an Agency Account Agreement.