Permitted Accounts. (i) Any MCC Funding to be disbursed to a bank account must be deposited in one or more Permitted Accounts, which shall be established by MCA-Kosovo and must be held at a financial institution acceptable to MCC and interest-bearing to the extent practicable. MCA- Kosovo may designate one of the Permitted Accounts to hold funds denominated in the local currency of Kosovo (the “Local Account”) and shall designate one of the Permitted Accounts solely for the deposit of the Government Contribution (“Government Account”). MCA-Kosovo shall notify MCC promptly if any account information for a Permitted Account changes during the Compact Term and provide MCC with the updated information.
(ii) Unless otherwise authorized by MCC in writing, no funds shall be co- mingled in any Permitted Account set up to receive MCC Funding other than MCC Funding and accrued interest and earnings thereon. Likewise, no funds other than the Government Contribution and accrued interest and earnings thereon shall be commingled in the Government Account. MCC shall have the right, among other things, to view any Permitted Account statements and activity directly on-line, and where such viewing is not feasible, MCA-Kosovo shall provide copies of such statements to MCC upon its request. Before any MCC Funding or Government Contribution is deposited into a Permitted Account, MCA-Kosovo shall enter into an agreement, in form and substance satisfactory to MCC, with the financial institution approved by MCC to hold such Permitted Account (the “Bank”) that sets forth the signatory authority, access rights, anti-money laundering and anti-terrorist financing provisions, and other terms related to such Permitted Account (the “Bank Agreement”). The Fiscal Agent, and in certain specified cases in the Bank Agreement, designated representatives of MCC, shall be the sole signatories on each Permitted Account.
(iii) MCC Funding or Government Contribution proceeds held in the Permitted Accounts may accrue interest or other earnings in accordance with the applicable Bank Agreement. On a quarterly basis and upon the termination or expiration of the Compact or the applicable Bank Agreement, MCA-Kosovo shall ensure the transfer of all accrued interest on MCC Funding to MCC. Accrued interest on the Government Contribution held in a Permitted Account shall be retained in such account until the funds may be transferred to the Government according to instructions agreed upon between the Bank and the Government.
(i...
Permitted Accounts. (i) Any MCC Funding to be disbursed to a bank account must be deposited in an account established by MCA-Côte d’Ivoire in the local currency of Côte d’Ivoire (the “Local Account”) at a financial institution acceptable to MCC, such Local Account to be interest- bearing to the extent practicable. The Local Account will be a Permitted Account. MCC and MCA-Côte d’Ivoire also may mutually agree in writing to the establishment of additional Permitted Accounts from time to time at financial institutions acceptable to MCC, which additional Permitted Accounts will also be interest bearing to the extent practicable. MCA-Côte d’Ivoire agrees to notify MCC promptly if any account information for a Permitted Account changes during the Compact Term and provide MCC with the updated information.
(ii) Unless otherwise authorized by MCC in writing, no funds will be co- mingled in a Permitted Account other than MCC Funding and accrued interest and earnings thereon. MCC will have the right, among other things, to view any Permitted Account statements and activity directly on-line, and where such viewing is not feasible, MCA-Côte d’Ivoire agrees to provide copies of such statements to MCC upon its request. Before any MCC Funding is deposited into a Permitted Account, MCA-Côte d’Ivoire agrees to enter into an agreement, in form and substance satisfactory to MCC, with the financial institution approved by MCC to hold such Permitted Account (the “Bank”) that sets forth the signatory authority, access rights, anti-money laundering and anti-terrorist financing provisions, and other terms related to such Permitted Account (the “Bank Agreement”). The Fiscal Agent, and in certain specified cases in the Bank Agreement, designated representatives of MCC, will be the sole signatories on each Permitted Account.
(iii) MCC Funding held in a Permitted Account will accrue interest or other earnings in accordance with the Bank Agreement. On a quarterly basis and upon the termination or expiration of the Compact or the Bank Agreement, MCA-Côte d’Ivoire agrees to ensure the transfer of all accrued interest to MCC.
(iv) Unless MCC agrees otherwise in writing, if MCC Funding is held in any Permitted Account other than the Local Account, MCA-Côte d’Ivoire agrees to ensure that such MCC Funding will be denominated in the currency of the United States of America prior to its expenditure or transfer to the Local Account. To the extent that any amount of MCC Funding held in U.S. Dollars must be convert...
Permitted Accounts. (i) The Government will ensure that MCA-Georgia establishes: (1) a bank account denominated in Georgian Lari (the “Local Account”) and (2) such other accounts, at a financial institution acceptable to MCC (such Local Account, and each such other account, a XXXXXXX XXXXX AND IMPLEMENTATION AGREEMENT “Permitted Account”). Before any Grant funding is deposited into a Permitted Account, the Government will ensure that MCA-Georgia enters into a bank agreement, in form and substance satisfactory to MCC, with the financial institution approved by MCC to hold such Permitted Account (each a “Bank”), which sets forth the signatory authority, access rights, anti-money laundering and anti-terrorist financing provisions, and other terms related to such Permitted Account (each a “Bank Agreement”). The terms and operation of the Permitted Accounts will be set forth in the Fiscal Accountability Plan and the Bank Agreement.
(ii) Unless otherwise authorized by MCC, no other funds will be commingled in a Permitted Account other than the Grant funding and any accrued interest thereon. MCC will have the right, among other things, to view any Permitted Account statements and activity directly on-line, and where such viewing is not feasible, the Government will provide copies of such statements to MCC upon its request.
(iii) The Government will ensure that Grant funding held in a Permitted Account accrue interest or other earnings in accordance with the applicable Bank Agreement. On a quarterly basis and upon the termination or expiration of this Agreement or the relevant Bank Agreement, the Government will ensure the transfer of all interest accrued on amounts held in a Permitted Account to MCC.
(iv) The Government will provide in writing to MCC and the Fiscal Agent the account name, designated account number and wire transfer instructions for transfers to Permitted Accounts (the “Account and Wire Transfer Information”) no later than ten business days prior to the date on which the initial deposit is to be made to a Permitted Account. In the event that any Permitted Account or the related Account and Wire Transfer Information changes during the term of this Agreement, the Government will provide to MCC and the Fiscal Agent the new information as soon as practicable, but in no event later than ten business days prior to the requested date for the next Disbursement.
Permitted Accounts. Maintain any deposit, checking, operating, investment or other bank accounts other than (a) certain opened and maintained with Bank of Hawaii, First Hawaiian Bank by Black Construction Corporation, a Guam corporation, and/or by Black Micro Corporation, a Northern Marianas corporation, for their respective operations in Guam (the “FBH Accounts,”) (b) certain accounts opened or to opened by the Designated Foreign Subsidiaries in connection with the Indebtedness permitted by Section 8.03(l) (the “Designated Foreign Subsidiary Accounts”, and collectively with each of accounts referenced in the preceding clause (b) , the “Non-Lender Accounts”), (c) other than the Non-Lender Accounts, the deposit, checking, operating, investment and other bank accounts listed on Schedule 6.22, (d) payroll and xxxxx cash accounts opened in the ordinary course of business with imprest balances not to exceed $100,000 for each such account, and (e) all other deposit, checking, operating, investment and other bank accounts established after the Amendment Effective Date with any Lender, or, with the prior written consent of the Required Lenders, any other depositary institution or securities intermediary (the “Permitted Accounts”) provided that, (x) Borrower shall use its best efforts to deliver to Administrative Agent, a Control Agreement for each of the Non-Lender Accounts (other than the FBH Accounts and the Designated Foreign Subsidiary Accounts) on or before the thirtieth (30th) day after the date of this Agreement (unless prior to such day, such Non-Lender Account has been closed), and (y) in the event of any Default hereunder, Borrower will deliver to the Administrative Agent a Control Agreement, in form and substance satisfactory to the Administrative Agent, duly executed by the owner of any account described in (c) and (e) above (either Borrower or Borrower’s Subsidiary, as the case may be) and such depositary institution (including any Lender) or securities intermediary, as the case may be.
Permitted Accounts. No Obligor will have Accounts other than Permitted Accounts.
Permitted Accounts. Maintain any deposit, checking, operating, investment or other bank accounts other than(a) the deposit, checking, operating, investment and other bank accounts listed on Schedule 6.22, (b) payroll and xxxxx cash accounts opened in the ordinary course of business with imprest balances not to exceed $20,000 for each such account, and (c) all other deposit, checking, operating, investment and other bank accounts established after the Closing Date with any Lender, or, with the prior written consent of the Required Lenders, any other depositary institution or securities intermediary (the “Permitted Accounts”) provided that, in the event of any Default hereunder, Borrower will deliver to the Administrative Agent a Control Agreement, in form and substance satisfactory to the Administrative Agent, duly executed by the owner of any account described in (a) and (c) above (either Borrower or Borrower’s Subsidiary, as the case may be) and such depositary institution (including any Lender) or securities intermediary, as the case may be.
Permitted Accounts. (i) Any MCC Funding to be disbursed to a bank account must be deposited in an account established by MCA-Nepal in the local currency of Nepal (the “Local Account”) at a financial institution acceptable to MCC, such Local Account to be interest-bearing...
(ii) Unless otherwise authorized by MCC in writing, no funds will be co-mingled in a Permitted Account other than MCC Funding and accrued interest and earnings thereon. MCC will have the right, among other things, to view any Permitted Account statem...
(iii) MCC Funding held in a Permitted Account will accrue interest or other earnings in accordance with the Bank Agreement. On a quarterly basis and upon the termination or expiration of the Compact or the Bank Agreement, MCA-Nepal will ensure the tr...
(iv) Unless MCC agrees otherwise in writing, MCC Funding will be held in an authorized Permitted Account. To the extent that any amount of MCC Funding held in U.S. Dollars must be converted into the currency of Nepal for any purpose, MCA-Nepal will e...
Permitted Accounts. The Government shall establish, or cause to be established, such accounts (each, a “Permitted Account,” and collectively “Permitted Accounts”) as may be agreed by the Parties in writing from time to time, including:
(i) A single, completely separate U.S. Dollar interest-bearing account (the “Special Account”) at a commercial bank, subject to MCC approval, that is procured through a competitive process;
(ii) If necessary, an interest-bearing local currency of Benin account (the “Local Account”) at a commercial bank, subject to MCC approval, that is procured through a competitive process to which the Fiscal Agent may authorize transfer from any U.S. Dollar Permitted Account for the purpose of making Re-Disbursements payable in local currency; and
(iii) Such other interest-bearing accounts to receive MCC Disbursements in such banks as the Parties mutually agree upon in writing.
Permitted Accounts. The Government will ensure that the Permitted Accounts are established, and banking services provided, in accordance with the terms of this Compact, the Program Implementation Agreement and any other agreements related to the Permitted Accounts. The Central Bank of Lesotho will not provide banking services to MCA-Lesotho or otherwise in connection with MCC Funding.
Permitted Accounts. Subject to Borrower’s obligations pursuant to Sections 8.1(x) and 8.1(y) below, Borrower shall not permit any Permitted Account to have a balance in excess of $20,000 at any time.
h. Upon the Effective Date, Section 8.1 of the Loan Agreement will be amended by adding new Sections 8.1(x) and 8.1(y) at the end of Section 8.1 as follows:
