Demand Deposit Accounts. The Borrower shall maintain its demand deposit accounts with the Bank, including its primary operating account which shall be established with the Bank on or before the date hereof. The average daily compensating balance maintained by the Borrower in its demand deposit account with the Bank, plus the aggregate average daily compensating balances of all other demand deposit accounts maintained with the Bank by the Pledgors and other Affiliates of the Borrower (collectively, the “Borrower DDA Balances”), shall at no time be less than $1,000,000. To the extent that the Borrower DDA Balances are less than $1,000,000, the Borrower shall pay a deficiency fee to the Bank in an amount equal to the Prime Rate plus 2% on the amount of such shortfall. Said deficiency fee shall be payable in arrears in quarterly installments on the same dates that the unused line fee is payable pursuant to Section 2.14 hereof. It is understood and agreed that the failure by the Borrower to maintain the Borrower DDA Balances as set forth herein shall not in and of itself be deemed to constitute an Event of Default.
Demand Deposit Accounts. No adjustment to the Company Valuation shall be made for any balance in the Company’s demand deposit account(s), which balance shall be not less than $5,000 in the aggregate in all such accounts.
Demand Deposit Accounts. Subject to the terms of all attachments and exhibits to this Agreement, Bank shall provide any and all checking accounts, including Public Fund N.O.W. checking accounts as indicated in Bank's depository bid, requested by County for County funds, County Clerk funds, District Clerk funds. Aggregate balances in County accounts greater than those required by the County to meet its current obligations will be invested. Excess funds will be placed either in interest bearing transaction accounts, or time deposits, pursuant to instructions received from County. The instructions shall be in accordance with the procedures and provisions set forth in Section III of this Agreement. The County will pay for all checks and deposit slips, which may be ordered through the Bank.
Demand Deposit Accounts. 4.2.1 A demand deposit account is an account from which the existing balance in the account may be paid by the Bank upon the Customer's request at any time without setting out a maturity and on which the Customer is entitled to disposite on the account at its discretion. The Customer may withdraw the deposit themselves or may authorize another person to withdraw a deposit directly or with its instruction, as deemed appropriate by the Bank or, without prejudice to the provisions of Article 60 of the Banking Law, may transfer the deposit to an account of the Customer or a third party with another Bank in Turkey or abroad.
Demand Deposit Accounts. The Loan Agreement is hereby amended to delete the requirement that the Borrower maintain minimum Borrower DDA Balances. Accordingly, Section 2.13 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Demand Deposit Accounts. Borrower shall have established with Bank (a) its primary operating accounts and (b) the Collateral Reserve Account into which all proceeds received from Accounts will be deposited. Pre-Closing Examination: A pre-closing examination of Borrower’s accounts, inventory, equipment and procedures shall have been performed by Bank or its authorized agent, and Bank shall have found the results thereof satisfactory.
Demand Deposit Accounts. The Borrower will be required to maintain its real estate operating accounts in the name of Borrower with the Lender for the entire term of the Loan until such time as the Loan and all other indebtedness under the Loan Documents (as hereinafter defined) are paid in full. Failure to establish and maintain any such account(s) shall constitute a default under the Loan.
Demand Deposit Accounts. Palm Europe Limited -------------------------------------------------------------------------------- [*] -------------------------------------------------------------------------------- Schedule 5.20 Permitted Indebtedness Equipment Leases ---------------- NONE Letters of Credit ----------------- Palm Europe Limited ------------------------------------------------------------------------------------------------------- Issuer Letter of Credit # Purpose/Country Currency/Amount ------------------------------------------------------------------------------------------------------- [*] [*] VAT/France EUR 91,469.41 ------------------------------------------------------------------------------------------------------- [*] [*] Car Lease/France EUR 69,188.33 ------------------------------------------------------------------------------------------------------- [*] [*] Car Lease/Netherlands EUR 2,949.57 ------------------------------------------------------------------------------------------------------- [*] [*] Car Lease/Germany EUR 33,233.97 ------------------------------------------------------------------------------------------------------- [*] [*] Car Lease/Germany EUR 3,834.69 ------------------------------------------------------------------------------------------------------- [*] [*] Car Lease/Germany EUR 3,834.69 ------------------------------------------------------------------------------------------------------- [*] [*] Customs Import/UK GBP 100,000.00 ------------------------------------------------------------------------------------------------------- [*] [*] VAT/Belgium EUR 16,261.00 ------------------------------------------------------------------------------------------------------- Schedule 6.7. Taxes Palm Europe Limited NONE
Demand Deposit Accounts. The Borrower shall maintain its primary demand deposit and disbursement account with the Lender.
