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.
Excluded Account has the meaning specified in Section 6.12.
Excluded Account has the meaning set forth in the Security Agreement.
Examples of Excluded Account in a sentence
The provisions of this Section 6.8 shall not apply to the Excluded Accounts; provided that Borrower shall provide Bank with written notice promptly (and in any event within five (5) days) upon the time that any of Borrower’s accounts shall no longer constitute an Excluded Account as defined herein.
More Definitions of Excluded Account
Excluded Account means accounts that are (a) solely used for the purposes of making payments in respect of payroll, taxes and employees’ wages and benefits, (b) disbursement accounts where solely proceeds of indebtedness, including the proceeds of the Loans are deposited, (c) zero balance accounts, (d) trust accounts and (e) other accounts with funds on deposit averaging less than $1,000,000 individually and $2,500,000 in the aggregate.
Excluded Account means any Deposit Account in the name of the Issuer or any Guarantor (a) that is used exclusively for payroll, payroll taxes and other employee wage and benefit payments in the Ordinary Course of Business; (b) that is a trust, fiduciary, or withholding tax payment account or (c) accounts set forth on Schedule 1 hereto which are listed as Excluded Accounts; provided, that no other Deposit Accounts shall constitute an Excluded Account.
Excluded Account is defined in Section 7.13.
Excluded Account means any of the accounts listed on Schedule I hereto, as amended from time to time by the parties hereto.
Excluded Account as defined in the Guarantee and Collateral Agreement.
Excluded Account means any deposit accounts used solely for payroll expenses, trust accounts or employee benefit accounts of the Loan Parties and their Subsidiaries.
Excluded Account means any deposit account or securities account of a Loan Party of the type described in the definition of “Excluded Accounts” in the Collateral Agreement.