PERMITTED SOURCES ACCOUNT Sample Clauses

PERMITTED SOURCES ACCOUNT. Amounts on deposit in the Permitted Sources Account shall be paid over to or upon the order of the Company to pay costs in respect of which such Permitted Sources were deposited, upon the receipt by the Administrative Agent of a certificate of the Company stating the specific amount requested to be paid over to or upon the order of the Company (or such other Person) to pay such costs actually incurred and setting forth a brief description of the costs to be paid. If, at any time, amounts that were deposited into the Permitted Sources Account are no longer necessary to pay costs in respect of which such funds were deposited, as certified by a Responsible Officer of the Company to the Administrative Agent, the Administrative Agent shall transfer such amounts from amounts on deposit in the Permitted Sources Account to the Company's Excess Cash Flow Account.
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PERMITTED SOURCES ACCOUNT. The Company shall deposit amounts into the Permitted Sources Account with funds contemplated by clauses (b) and (c) of the definition of "Permitted Sources" to the extent necessary to cause such funds to constitute a "Permitted Source."
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PERMITTED SOURCES ACCOUNT. (b) All moneys, investments and securities at any time on deposit in any of the Accounts shall be under the sole dominion and control of the Collateral Trustee and shall constitute collateral in accordance with the terms of the Security Documents to be held in the custody of the Collateral Trustee for the purposes and on the terms set forth in the Security Documents and this Article VIII.
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PERMITTED SOURCES ACCOUNT. Amounts on deposit in the Permitted Sources Account shall be paid over to or upon the order of the Borrower (or directly to the Persons entitled thereto, in the case of amounts in excess of $200,000) to pay costs in respect of which such Permitted Sources were deposited, upon the receipt by the Collateral Trustee and the Administrative Agent of a certificate of the Borrower stating the specific amount requested to be paid over to or upon the order of the Borrower (or such other Person) to pay such costs actually incurred and setting forth a brief description of the costs to be paid. If, at any time, amounts that were deposited into the Permitted Sources Account are no longer necessary to pay costs in 128 respect of which such funds were deposited, as certified by a Responsible Officer of the Borrower to the Collateral Trustee (and countersigned by the Administrative Agent), the Collateral Trustee shall transfer such amounts from amounts on deposit in the Permitted Sources Account to the Excess Cash Flow Account.
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PERMITTED SOURCES ACCOUNT. The Company shall deposit amounts into the Permitted Sources Account with funds contemplated by clauses (d) and (e) of the definition of "Permitted Sources" to the extent necessary to cause such funds to constitute a "Permitted Source."
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PERMITTED SOURCES ACCOUNT. Subsection 8.2(o) of the Credit Agreement is hereby deleted in its entirety and the following substituted therefor:
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Related to PERMITTED SOURCES ACCOUNT

  • Establishment of a Lockbox Account, Dominion Account All proceeds of Collateral shall be deposited by Borrower into either (i) a lockbox account, dominion account or such other “blocked account” (“Blocked Accounts”) established at a bank or banks (each such bank, a “Blocked Account Bank”) pursuant to an arrangement with such Blocked Account Bank as may be selected by Borrower and be acceptable to Agent or (ii) depository accounts (“Depository Accounts”) established at Agent for the deposit of such proceeds. Borrower, Agent and each Blocked Account Bank shall enter into a deposit account control agreement in form and substance satisfactory to Agent directing such Blocked Account Bank, upon notice from Agent, to transfer such funds so deposited to Agent, either to any account maintained by Agent at said Blocked Account Bank or by wire transfer to appropriate account(s) of Agent. All funds deposited in such Blocked Accounts shall immediately become the property of Agent and Borrower shall obtain the agreement by such Blocked Account Bank to waive any offset rights against the funds so deposited. Neither Agent nor any Lender assumes any responsibility for such blocked account arrangement, including any claim of accord and satisfaction or release with respect to deposits accepted by any Blocked Account Bank thereunder. All deposit accounts and investment accounts of Borrower are set forth on Schedule 4.15(g). Notwithstanding anything to the contrary set forth in this Section 4.15(g), Borrower shall be permitted to deposit checks or other payments received at Borrower’s locations in the Ordinary Course of Business in deposit accounts which may not be subject to a blocked account or similar agreements; provided that, at no time shall Borrower have more than $50,000 in the aggregate in all such accounts which are not Blocked Accounts or Depository Accounts.

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Establishment of Deposit Account The Financial Institution hereby confirms and agrees that:

  • Deposit Account Control Agreement control agreement satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Eligible Deposit Account Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution with corporate trust powers organized under the laws of the United States or any state thereof, or the District of Columbia, and whose deposits are insured by the Federal Deposit Insurance Corporation, provided that such institution also has a combined capital and surplus of at least $100,000,000 and a rating of A or better from the Thomson Bank Watch.

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Securities Accounts If a Collateral Account is a securities account, the Financial Institution agrees that:

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