Cash Balance Account Sample Clauses
A Cash Balance Account clause defines the establishment and management of an account where cash funds are held, typically on behalf of a party or for a specific purpose within a contractual relationship. This clause outlines how funds are deposited, maintained, and possibly disbursed from the account, and may specify requirements such as minimum balances, permitted uses, or reporting obligations. Its core practical function is to ensure transparent and organized handling of cash resources, reducing the risk of mismanagement and providing clear procedures for both parties regarding the use and oversight of the funds.
Cash Balance Account. Maintain, at all times, a cash balance of not less than $1,200,000 in an account (the “Cash Balance Account”) maintained by Borrower at ▇▇▇▇▇ Fargo. This Section 5.13 shall fully amend and restate the provisions of Section 3(c) of the Acknowledgement of Default and Waiver Agreement.”
Cash Balance Account. A Cash Balance Account is a notional account established for each Participant pursuant to Section 3A.2 of the Plan.
Cash Balance Account. Sections 5.13 of the Credit Agreement is hereby amended in full to read as follows:
Cash Balance Account. (a) Lender shall also establish a sub-account on its own books and records (the "Cash Balance Account") and shall credit to such Cash Balance Account all collected funds which constitute payments referred to in Section 2.8(a) above at such time as the amount to be credited has been identified to Lender's reasonable satisfaction.
Cash Balance Account. Fail at any time to maintain (a) the Cash Balance Account, (b) a Deposit Account Control Agreement with respect thereto, or (c) a cash balance therein of at least Two Hundred Fifty Thousand Dollars ($250,000).
Cash Balance Account. Borrower shall be in compliance with Section 5.13 of the Credit Agreement.
Cash Balance Account. (c) If no Event of Default has occurred, Borrower may request a release of amounts credited to the Cash Balance Account on a monthly basis for (i) royalty payment distributions and Borrower's production and property related taxes, (ii) Borrower's share of Net Revenue in accordance with the Cash Flow Sharing Ratio and (iii) Lease Operating Expenses incurred in the