Primary Operating Account definition

Primary Operating Account has the meaning given such capitalized term in Section 2(w).

Primary Operating Account means any deposit account or controlled disbursement account on which the Company draws to pay all or substantially all of its operating expenses.

Primary Operating Account shall be the bank account set forth in Section 6 below, unless and until such account is changed in accordance with Section 5.10 of the Loan and Security Agreement.

Examples of Primary Operating Account in a sentence

• Principal and interest of each Loan shall be payable at the times and in the manner set forth in the Note and regularly scheduled payments thereof shall be effected by automatic debit of the appropriate funds from Borrower’s Primary Operating Account as specified in the Supplement hereto.

• Borrower hereby confirms that the bank at which the Primary Operating Account is maintained uses that same ABA Number for incoming wires transfers to the Primary Operating Account and outgoing ACH transfers from the Primary Operating Account.

• For purposes of Sections 2.2 and 5.10 of the Loan and Security Agreement, the Primary Operating Account shall be the bank account set forth in Section 6 above, unless and until such account is changed in accordance with Section 5.10 of the Loan and Security Agreement.

• All regularly scheduled payments due to the Lenders shall be effected by automatic debit of the appropriate funds from Borrower’s Primary Operating Account.

• Principal and interest of each Loan shall be payable at the times set forth in the Note and regularly scheduled payments thereof and each Terminal Payment shall be effected by automatic debit of the appropriate funds from Borrower’s Primary Operating Account as specified in the Supplement hereto.

More Definitions of Primary Operating Account

Primary Operating Account a Deposit Account of Borrower designated by Xxxxxxxx in writing to the Administrative Agent from time to time as Xxxxxxxx’s Primary Operating Account.

Primary Operating Account has the meaning set forth in Section 5.10.

Primary Operating Account means the account of the Borrower held at MUFG Union Bank, N.A., formerly known as Union Bank, N.A., DDA Number 4500082750, CDL Number 00131886, Fed ABA Number 122000496, DDA Account Name: Regional Center of Orange County.

Primary Operating Account is Borrower’s account set forth in Part 2, Section 6 hereof.

Primary Operating Account is set forth in Section 8 of Part 2 of the Supplement.

Primary Operating Account means, with respect to a particular ------------------------- Obligor, the Operating Account of such Obligor with Imperial Bank identified on Exhibit A to Amendment No. 2 as the "Primary Operating --------- Account" of such Obligor.

Primary Operating Account. Subject to the last sentence of this paragraph, the Grantors shall cause the Bank maintaining the Primary Operating Account to enter into an agreement in form and substance reasonably satisfactory to Agent (an “Account Control Agreement”), pursuant to which, upon notice of a continuing Event of Default, such Bank shall agree to comply with Agent’s instructions with respect to disposition of funds in the Primary Operating Account without further consent by any Grantor. The provisions in this Section 4.2(a) requiring an Account Control Agreement shall not apply to any Deposit Account for which Agent is the depository bank.