Canadian Dominion Account definition

Canadian Dominion Account a special account established by the Canadian Domiciled Loan Parties at Bank of America (Canada) or another bank reasonably acceptable to Agent, over which Agent has exclusive control for withdrawal purposes.

Canadian Dominion Account means a special concentration account established by the Canadian Borrower at Bank of America-Canada Branch or another bank reasonably acceptable to the Administrative Agent, over which the Collateral Agent has a first priority perfected Lien (subject only to Permitted Liens) and exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Credit Documents.

Canadian Dominion Account shall have the meaning provided in Section 8.15(c)(i).

Examples of Canadian Dominion Account in a sentence

• The Canadian Domiciled Loan Parties shall establish a Canadian Dominion Account (including by designating an existing Deposit Account as a “Canadian Dominion Account”).

• The Canadian Domiciled Loan Parties shall maintain a Canadian Dominion Account.

• The ledger balance in (a) the US Dominion Accounts as of the end of each Business Day, and (b) the Canadian Dominion Account as of the end of each Business Day after Lender sends to Borrower an Activation Notice, in each case shall be applied to the Obligations at the beginning of the next Business Day, as applicable.

• Each Grantor shall request in writing and otherwise take commercially reasonable steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to the Canadian Dominion Account.

• If any Grantor or Subsidiary receives cash or Payment Items with respect to any Collateral or any Payment Item not properly deposited by a lockbox servicer in accordance with the requirements set forth in Section 8.2.4 of the Credit Agreement, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into the Canadian Dominion Account.

More Definitions of Canadian Dominion Account

Canadian Dominion Account each lockbox or Deposit Account established by the Canadian Loan Parties which is subject to a Deposit Account Control Agreement in favor of Agent in accordance with Section 7.3.2.

Canadian Dominion Account has the meaning specified therefor in Section 2.15(d)(iii).

Canadian Dominion Account each deposit account established by a Canadian Borrower at Bank of America (Canada) or another bank acceptable to Agent, over which Agent has exclusive or springing control pursuant to a Deposit Account Control Agreement; provided that such deposit account is a collection account and not also an operating or disbursement account.

Canadian Dominion Account means a special concentration account established by a Canadian Borrower at anAffiliate or branch of the Agent in Canada, over which the Agent has exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Loan Documents.

Canadian Dominion Account means a special concentration account established by a Canadian Borrower at an Affiliate or branch of the Agent in Canada, over which the Agent has exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Loan Documents. “Canadian Guarantor” means each Guarantor that is incorporated or otherwise organized under the laws of Canada or any province or territory thereof.

Canadian Dominion Account each account established by the Canadian Domiciled Loan Parties at Bank of America (Canada) or another bank reasonably acceptable to Agent, which is maintained in accordance with Section 8.1.4 and is subject to a Deposit Account Control Agreement.

Canadian Dominion Account a Dominion Account, deposit account #711449328206, maintained at Bank of America, N.A., (acting through its Canada branch), or such other account as may be designated by Lender to Borrower in writing for the deposit of payments on Canadian Accounts.