Controlled Account definition

Controlled Account has the meaning specified therefor in Section 7(k).

Controlled Account each Deposit Account and Securities Account that is subject to a Control Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Issuing Lender.

Controlled Account means each deposit account and securities account that is subject to a Qualifying Control Agreement.

Examples of Controlled Account in a sentence

• Sellers shall have no rights in, rights of withdrawal from, or rights to give notices or instructions regarding Xxxxx’s account or the Waterfall Account or any Collection Account; provided that the Sellers may withdraw funds from the Waterfall Account or any Collection Account with the prior written consent of Buyer in accordance with the terms of the related Controlled Account Agreement.

• Each Seller shall maintain the Custodial Agreement and Controlled Account Agreement in full force and effect.

• With respect to the protective security interest granted by each Seller in Section 11.01, upon the delivery of the Confirmations and the Purchased Asset Documents to Custodian, the execution and delivery of the Controlled Account Agreement and the filing of the UCC financing statements as provided herein, such security interest shall be a valid first priority perfected security interest to the extent such security interest can be perfected by possession, filing or control under the UCC.

• The Borrower Agent shall cause bank statements and/or other reports from the Controlled Account Banks to be delivered to the Administrative Agent not less often than monthly, accurately setting forth all amounts deposited in each Controlled Deposit Account to ensure the proper transfer of funds as set forth above.

• None of any Seller, Interim Servicer or any Person claiming through or under any Seller or Interim Servicer shall have any claim to or interest in the Waterfall Account and all Collection Accounts; provided that the Sellers (or Interim Servicer, at the direction of a Seller) may withdraw funds from the Waterfall Account or any Collection Account with the prior written consent of Buyer in accordance with the terms of the related Controlled Account Agreement.

More Definitions of Controlled Account

Controlled Account has the meaning set forth in Section 8.18(a).

Controlled Account shall have the meaning set forth in Section 5.11.

Controlled Account means (a) any Deposit Account of a Note Party that is subject to a Deposit Account Control Agreement, and (b) any Securities Account of a Note Party that is subject to a Securities Account Control Agreement.

Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

Controlled Account means each of the Reserve Account, the Collection Account and the Lockbox Account, and the “Controlled Accounts” means all of such accounts.

Controlled Account means each Deposit Account that is subject to a Deposit Account Control Agreement in form and substance satisfactory to the Administrative Agent and, in the event that such Deposit Account holds Cash Collateral, the L/C Issuers.

Controlled Account means a deposit account or securities account of any Loan Party at a depository bank or other financial institution acceptable to the Administrative Agent that has entered into account control agreements in form and substance satisfactory to the Administrative Agent and each Significant Lender, and otherwise established in a manner satisfactory to the Administrative Agent and each Significant Lender. For the avoidance of doubt, the Special Controlled Account shall be a Controlled Account.