Account Control Bank definition

Account Control Bank means Bank of America, N.A.
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Account Control Bank has the meaning set forth in Section 2.7(a).
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Account Control Bank is defined in Section 2.6(b).
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Examples of Account Control Bank in a sentence

  • Lender agrees that it will not provide any notification to an Account Control Bank under an Account Control Agreement directing it to transfer, redeem or permit the withdrawal of any property in the AC Account except upon the occurrence and continuance of an Event of Default.

  • The Account Control Agreement is an account control agreement, as defined under the Security Trust Deed, entered into on 13 January 2010 among the Borrower, the Facility Agent, Security Agent and Account Control Bank (AM) in connection with the relevant accounts set up by the Pledgor with the Account Control Bank.

  • Borrower shall use commercially reasonable and diligent efforts to take such actions reasonably necessary to make available to Lender all such electronic and Internet access to Borrower Account information (including balance and account activity information, notifications and alerts), and to cause electronic statements thereof to be delivered to Lender, as Borrower may authorize in accordance with the Account Control Agreement and applicable Account Control Bank policies and procedures.

  • In accordance with Section 2.8, the Loan Account will be credited with all payments received by Lender from Borrower or for Borrower's account, including all amounts received in the Lender's Account from any Account Control Bank.

  • Following the final resolution of the Marriott Parking Dispute and the receipt by Administrative Agent of the documentation described in the preceding sentence, any amounts then on deposit in the Marriott Parking Dispute Reserve Account shall be transferred by the Account Control Bank into the Predevelopment Expenses Reserve Account.

  • Within two (2) Business Days after the later to occur of Lender’s receipt of a Payment Certificate and the deposit in the Borrower Account of the amounts identified therein, Lender shall instruct Account Control Bank (by any means permitted under the Account Control Agreement, including, without limitation, Automated Clearing House transfers) to transfer to Lender all amounts deposited in the Borrower Account.

  • Upon meeting the above conditions, the Account Control Bank should, in accordance with the payment instruction of the Transfer Request, directly transfer the amount from the Onshore Control Account to the Onshore Cash Collateral Account.

  • In the Agreement: The Controlled Accounts refer to any account listed in Attachment 1 (The Controlled Account Checklist Form) to the Agreement set up and maintained by the Borrower in the Account Control Bank.

  • The Account Control Bank should, within 10 Business Days from the end of every month, provide the Account Statement on the Onshore Project Account to the Facility Agent and the Security Agent.

  • The Borrower should, on the date of the deposit, apply to the Account Control Bank to issue a certificate of deposit for that deposit; within 2 Business Days upon accepting the Borrower’s application, the Account Control Bank should issue the certificate of deposit for that deposit.


More Definitions of Account Control Bank

Account Control Bank has the meaning specified therefor in Section 8.01(a).
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Account Control Bank means the bank or agent under the Account Control Agreement holding the FF&E reserve account and the operating account required to be maintained by Operating Tenant pursuant to the Hotel Management Agreement, and any successor thereto.
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Related to Account Control Bank

  • Account Control Agreement means the Account Control Agreement relating to the Accounts, dated as of the Closing Date, among the Borrower, the Servicer, the Administrative Agent and the Account Bank.

  • Deposit Account Control Agreement means an agreement, in form and substance satisfactory to the Agent (in its Permitted Discretion), among any Loan Party, a banking institution holding such Loan Party’s funds, and the Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Loan Party with such banking institution, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

  • Account Control Agreement(s) means any agreement entered into by and among the Agent, Borrower and a third party Bank or other institution (including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which grants Agent a perfected first priority security interest in the subject account or accounts.

  • Blocked Account Control Agreement means the Cash Management Agreement among Borrower, Collection Account Bank and Lender providing for the exclusive control of the Collection Account and all other Accounts by Lender, substantially in the form of Exhibit A or such other form as may be reasonably acceptable to Lender.

  • Deposit Account Control Agreements means, with respect to each deposit account that is required by the Collateral Agreement to be subject to a control agreement, a deposit account control agreement executed by the Borrower, the Administrative Agent as the secured party thereto, and the deposit bank, as each may be amended, restated, supplemented or otherwise modified from time to time.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Commodity Account Control Agreement means a control agreement in a form that is reasonably satisfactory to the Administrative Agent establishing the Administrative Agent’s Control with respect to any Commodity Account.

  • Securities Account Control Agreement shall have the meaning ascribed thereto in the Sale and Servicing Agreement.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Clearing Account Agreement means that certain agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds in, the Clearing Account.

  • Control Agreement is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Account Agreement means the agreements for the operation of the Account.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Equity Account Administrator means the brokerage firm utilized by the Company from time to time to create and administer accounts for participants in the Company’s equity plans and programs, including the Plan.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.