Account Termination Date definition
Examples of Account Termination Date in a sentence
The Borrower shall continue to maintain the Reserve Account until the Reserve Account Termination Date.
The Collection Account and the Reserve Account shall be subject at all times (with respect to the Collection Account) or until the Reserve Account Termination Date (with respect to the Reserve Account) to a first-priority perfected security interest in favor of the Collateral Trustee, for the benefit of the Secured Parties, and each such account shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Collateral Trustee on behalf of the Secured Parties.
Upon the Collateral Account Termination Date and the release of all funds therein to (or on behalf of) Newark, all provisions hereof and of the Security Agreement relating to the Collateral Account shall be terminated, the Collateral Account shall be closed and the related Account Control Agreement shall terminate.
Thereafter until the Collateral Account Termination Date, by no later than the first day of any Interest Period, Newark shall deposit (or cause to be deposited) into the Collateral Account any amounts necessary so that the amounts on deposit therein shall at least equal the Collateral Account Reserve Amount for such Interest Period.
In the event that TGVC has not consummated the Initial Business Combination by the Trust Account Termination Date, TGVC will cause the Trust Account to be liquidated no later than two (2) weeks after the Trust Account Termination Date.
At the close of business of the Securities Intermediary on the Collateral Account Termination Date, this Agreement and all obligations (other than those expressly stated to survive termination) of the parties hereunder shall terminate.
The Joint Account shall terminate (the "Joint Account Termination Date") upon the later of (i) the Seller's receipt of the Maximum Amount from funds deposited in the Joint Account, (ii) the payment by the Buyer of all of the Assumed Liabilities, or such lesser amount pursuant to settlement agreements with such third party creditors, such settlement agreements to be in form and substance reasonably satisfactory to the Seller; or (iii) 30 days following the first anniversary of the Closing Date.
The remaining funds deposited in the Joint Account with respect to the Closing Receivables shall be used solely to repay in full all of the accounts payable reflected on the Balance Sheet until the Joint Account Termination Date.
The dollar amount of any Pending Claim shall be calculated by Parent, using its good faith reasonable judgment of the maximum possible Damages or Tax Losses and shall be provided in writing to the Escrow Agent prior to the Escrowed Initial Shares Account Termination Date.
The Escrow Stock shall be retained in the Escrow Fund until the Escrow Account Termination Date.