Controlled Disbursement Account. The Loan Parties shall maintain, in the name of the Borrower Representative, a Controlled Disbursement Account with KeyBank. The Borrowers may maintain more than one Controlled Disbursement Account. The Borrowers shall base their requests for Revolving Loans on, among other things, the daily balance of the Controlled Disbursement Account (or Controlled Disbursement Accounts). The Borrowers shall not, and shall not cause or permit any Loan Party, to maintain cash in any Controlled Disbursement Account, as of any date of determination, in excess of checks outstanding against such account as of that date, and amounts necessary to meet minimum balance requirements.
Controlled Disbursement Account. The Controlled Disbursement Account will be your account with BNY Mellon, and you shall, and hereby do, authorize us to act as your agent for all purposes, including but not limited to, opening and managing the Controlled Disbursement Account, and issuance of return or stop payment instructions. You expressly authorize us to obtain access, from time to time, to all records of the Controlled Disbursement Account. We have the exclusive right to manage the Controlled Disbursement Account. You will not make, and BNY Mellon is not obligated to accept, deposits directly to the Controlled Disbursement Account. Furthermore, except as permitted when “Daily Match™ Service” is selected, you may not give or direct, and BNY Mellon is not obligated to receive, accept or act upon, any instructions, inquiries or communications of any kind directly to BNY Mellon with respect to the Controlled Disbursement Account. All such instructions, inquiries or communications must be directed to BNY Mellon through us as your agent. Therefore, while you have all the rights of the owner of the Controlled Disbursement Account, every communication to BNY Mellon other than that of writing checks on the Account, and in connection with “Daily Match™ Services”, if applicable, shall be directed through us. You authorize us and BNY Mellon to honor checks from the Controlled Disbursement Account bearing the signature or facsimile signature appearing on the BNY Mellon signature card and you waive any claim which you may have against us or BNY Mellon on account of it paying and charging to the Controlled Disbursement Account any such check when such signature or facsimile signature or a substantially similar copy of the facsimile signature is placed thereon. You acknowledge that facsimile transmission is an inherently insecure communication method due to the possibility of error, delay and observation or receipt by unauthorized personnel. Should you elect to send or receive directions or information via facsimile in connection with the Service, you assume all risk of loss or disclosure resulting from such transmission.
Controlled Disbursement Account. Not later than 1:00 p.m., Chicago time, on each Business Day, the Lender shall, subject to the conditions of this Agreement (but without any further written notice required), make available to the Borrower, by a credit to the Funding Account, the proceeds of a CBFR Borrowing to the extent necessary to pay items to be drawn on the Controlled Disbursement Accounts that day. All other Revolving Loans shall be made upon notice given in accordance with §2.03(b).
Controlled Disbursement Account. On or before the effective date of this Agreement, AHERF shall open one or more interest bearing bank accounts, over which HealthAmerica or the appropriate Member Company shall have signature authority (the "Account"), at bank to be agreed to by the parties. Separate accounts will be established for each Program hereunder to the extent administratively appropriate. AHERF understands and agrees that under no circumstances may AHERF withdraw any moneys from the Account without the previous written consent of the Member Companies, which consent shall not be unreasonably withheld.
Controlled Disbursement Account. The Credit Parties shall maintain one or more Controlled Disbursement Accounts with Agent, on behalf of the Lenders. Borrowers shall base their requests for Revolving Loans on, among other things, the daily balance of the Controlled Disbursement Account (or Controlled Disbursement Accounts). During a Cash Dominion Period, the Credit Parties shall not, and shall not cause or permit any Company, to maintain cash in any Controlled Disbursement Account, as of any date of determination, in excess of checks outstanding against such account as of that date, and amounts necessary to meet minimum balance requirements.
Controlled Disbursement Account a demand deposit account maintained by Borrowers at BofA (or an Affiliate of BofA) and to which proceeds of Loans may be wired from time to time.
Controlled Disbursement Account a demand deposit account maintained by Borrower at Lender and to which proceeds of Loans will be funded from time to time. CWA - the Clean Water Act (33 U.S.C. §§ 1251 et seq.).
Controlled Disbursement Account. All Accounts Payable and payroll checks will be drawn and cleared through this account. Transfers are made daily from the master account based on the amount of checks presented for payment. The daily balance for this account is zero.
Controlled Disbursement Account. At all times when Lender has elected, in its Permitted Discretion, to exercise dominion over Borrowers’ cash during a Trigger Period, not later than 1:00 p.m., Chicago time, on each Business Day, the Lender shall, subject to the conditions of this Agreement (but without any further written notice required), make available to the Borrower Representative, by a credit to the Funding Account, the proceeds of a CBFR Borrowing to the extent necessary to pay items to be drawn on the Controlled Disbursement Account[s] that day. All other Revolving Loans shall be made upon notice given in accordance with Section 2.03(b).
Controlled Disbursement Account. At its option, each Borrower may maintain in its name a commercial account (the "Controlled Disbursement Account") with a bank selected by such Borrower and satisfactory to the Lender, into which deposits from the Disbursement Account may be authorized by the Borrowers and/or the Lender and from which the applicable Borrower may draw checks for corporate purposes. If a Borrower so elects, such Borrower, Lender and such depository bank shall enter into an agreement satisfactory to Lender regarding, among other things, the Controlled Disbursement Account and access to amounts on deposit therein or attributable thereto.
