Principal Accounts Clause Samples

Principal Accounts. Shall maintain its principal accounts, ------------------ including its primary depository and cash management accounts, with Bank.

Principal Accounts. The Principal Accounts comply with the provisions of the Companies ▇▇▇ ▇▇▇▇ as applicable and have been prepared in accordance with all relevant statutes and with generally accepted accounting principles and practices and give a true and fair view of all the assets and liabilities (whether present or future, actual or contingent) and of the state of affairs, financial position and results of each Company as at and up to the Last Accounts Date.

Principal Accounts. The Borrower shall maintain its principal depository and operating accounts with the Lender, with an aggregate amount on deposit of no less than $750,000.00 at all times, subject to the provisions of Section 8.13 hereof.

Principal Accounts. The Principal Accounts: 7.1 were prepared in accordance with applicable laws and accounting practices generally accepted in the United Kingdom (or in the case of any Group Company (other than Alco Canada and Alco Singapore) incorporated outside the United Kingdom the country of incorporation) as at the date of the audit report on them and otherwise on a basis substantially consistent with the consolidated statutory group accounts of the Group Companies (other than Alco Canada and Alco Singapore) for the previous two financial years; and 7.2 gave a true and fair view of the state of affairs as at the Accounts Date, and of the profit or loss for the financial year ended on the Accounts Date, of the Group Companies (other than Alco Canada and Alco Singapore) taken as a whole.

Principal Accounts. The Principal Accounts comply with all applicable accounting standards and have been prepared in accordance with all relevant statutes and with generally accepted accounting principles and practices and the profit and loss account reasonably reflects the profits of the Partnership for the period and the balance sheet fairly discloses the value of the assets of the Partnership as at its date.

Principal Accounts. On or before the last Business Day prior to each April 1, the Trustee shall set aside from the Revenue Fund and deposit in the Principal Account for each series of bonds an amount of money equal to the aggregate amount of all sinking fund payments required to be made on such April 1 into the respective sinking fund accounts for all Outstanding Term Bonds for each series of bonds and the aggregate principal amount of all Outstanding Serial Bonds maturing on such April 1 for each series of bonds. No deposit need be made in the Principal Account for each series of bonds if the amount contained therein is at least equal to the aggregate amount of the principal of all Outstanding Serial Bonds for the applicable series of bonds maturing by their terms on such April 1 plus the aggregate amount of all sinking fund payments required to be made on such April 1 for all Outstanding Term Bonds for the applicable series of bonds. The Trustee shall establish and maintain within the Principal Account for each series of bonds a separate subaccount for the Term Bonds of each Series and maturity, designated as the “ Sinking Account” (the “Sinking Account”), inserting therein the Series and maturity (if more than one such account is established for such series) designation of such Bonds. With respect to each Sinking Account, on each mandatory sinking account payment date established for such Sinking Account, the Trustee shall apply the mandatory sinking account payment required on that date to the redemption (or payment at maturity, as the case may be) of Term Bonds of the Series and maturity for which such Sinking Account was established, upon the notice and in the manner provided in Article II; provided that, at any time prior to selection of Bonds for redemption, the Trustee may upon the Written Request of the Authority, apply moneys in such Sinking Account to the purchase of Term Bonds of such Series and maturity at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Account), as may be directed by the Authority, except that the purchase price (excluding accrued interest) shall not exceed the redemption price that would be payable for such Bonds upon redemption by application of such Mandatory Sinking Account Payment. If, during the twelve-month period immediately preceding said mandatory sinking account payment date, the Trustee has purchased Term Bonds of such S...

Principal Accounts. (a) The Loan Parties agree that, until the 364-Day Term Loans have been repaid in full, all Net Cash Proceeds of any Refinancing Indebtedness shall be deposited into the Loan Principal Account. IF, notwithstanding the foregoing, any Loan Party shall receive any such proceeds, it shall immediately deliver such proceeds in the exact form received (duly indorsed, if appropriate, in a manner satisfactory to the Collateral Agent) to the Collateral Agent for deposit into the Loan Principal Account. The Collateral Agent shall have the right to receive all such Net Cash Proceeds directly from the Persons owing the same. All such Net Cash Proceeds received by the Collateral Agent shall be deposited into the Loan Principal Account. (b) The Loan Parties agree that all Net Cash Proceeds of any Additional Indebtedness that is incurred for the purpose of (i) prepaying any Loans, Refinancing Indebtedness, Ordinary Course Letter of Credit Indebtedness, DSR Letter of Credit Indebtedness or Additional Indebtedness or (ii) repaying any Loans, Refinancing Indebtedness or Additional Indebtedness at its scheduled maturity, shall be deposited into the Principal Account related to the Indebtedness that is being prepaid or repaid. If, notwithstanding the foregoing, any Loan Party shall receive any such proceeds, it shall immediately deliver such proceeds in the exact form received (duly indorsed, if appropriate, in a manner satisfactory to the Collateral Agent) to the Collateral Agent for deposit into such related Principal Account. The Collateral Agent shall have the right to receive all such Net Cash Proceeds directly from the Persons owing the same. All such Net Cash Proceeds received by the Collateral Agent shall be deposited into such related Principal Account. (c) The Loan Parties agree that all Net Cash Proceeds of any Additional Indebtedness other than the type described in paragraph (b) above shall be deposited into the Revenue Account.

Principal Accounts. 4.1. We shall, in respect of each Principal, establish and maintain one or more separate sub-accounts (each a “Principal Account”). 4.2. You undertake, as agent for the relevant Principal and on your own behalf, in respect of each instruction given, to specify within two hours of giving an instruction (or such other time as we may reasonably specify) the Principal Account to which the relevant instruction relates. Until you specify a Principal Account you shall be personally liable, as principal, in respect of the relevant transaction. 4.3. You further undertake, as agent for each Principal and on your own behalf, to notify us immediately if any two or more Principal Accounts relate to the same Principal.