Agent Deposit Account definition

Agent Deposit Account as defined in Section 2.21(c).

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Agent Deposit Account has the meaning set forth in Section 2.3(d) hereof.

Agent Deposit Account has the meaning set forth in Section 2.3(e) hereof.

Examples of Agent Deposit Account in a sentence

So long as no Event of Default shall have occurred and be continuing, if funds remain in the Agent Deposit Account following the application provided for in the preceding sentence, the balance will be promptly transferred to the Agent Disbursement Account.
Agent shall, at the close of business on each Business Day, automatically debit the Agent Deposit Account and apply the proceeds against the Loans and other Obligations pursuant to the provisions of Section 2.7(b).
All deposits to the Agent Deposit Account shall be the property of Agent for the benefit of Lenders and shall not be commingled with Borrower's other funds or be deposited in any bank account of Borrower, or used in any manner except to pay the Obligations.
Within sixty (60) days after the Closing Date (or such extended period of time as agreed to by the Administrative Agent), the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, Deposit Account Control Agreements and Securities Account Control Agreements with respect to each account required to be subject to such agreement pursuant to Section 6.13.
The crediting of items deposited in the Agent Deposit Account to the reduction of the Loans shall be conditioned upon final payment of the item and if any item is not so paid, the amount of any credit given for it may be charged to the Loans or to any other deposit account of Borrower, whether or not the item is returned.
If any payments on the Pool Receivables or other Collections are received by an Originator, it shall hold such payments in trust for the benefit of the Administrative Agent (on behalf of itself and the other Secured Parties under the ABL Credit Agreement) and promptly (but in any event within one (1) Business Day after receipt) remit such funds into a Designated Deposit Account, a Controlled Account or Agent Deposit Account.
All deposits to the Agent Deposit Account shall be the property of Agent for the benefit of Lenders and shall not be commingled with Borrowers' other funds or be deposited in any bank account of any Borrower, or used in any manner except to pay the Obligations.
If any such funds are nevertheless deposited into any Interim Deposit Account, Designated Deposit Account, Controlled Account or Agent Deposit Account, the Originators will cause the Servicer to, within two (2) Business Days, identify and transfer such funds out of such account to (or pursuant to the instructions of) the Person entitled to such funds.
Each Grantor has executed and delivered to the Administrative Agent Deposit Account Control Agreements for each Deposit Account and related lockbox maintained by such Grantor into which all cash, checks or other similar payments relating to or constituting payments made in respect of Receivables are or will be deposited (a “Collateral Deposit Account”), which Collateral Deposit Accounts, as of the First Amendment Effective Date, are identified as such on Exhibit B-I.
The Originators shall not take or permit any actions that would cause any funds other than Collections on Pool Receivables and other Collateral to be deposited into any Interim Deposit Account, Designated Deposit Account, Controlled Account or Agent Deposit Account.

More Definitions of Agent Deposit Account

Agent Deposit Account means the following deposit account (or such other deposit account as Agent may from time to time designate as the “Agent Deposit Account” in writing): Capital One, National Association ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Account: 2081347541 ABA: ▇▇▇▇▇▇▇▇▇ Account Name: Security ABL Loan Collections Accounts Aggregate Commitment shall mean the aggregate of the Commitments of each of the Banks party hereto, as such Commitments may be decreased in accordance with Section 2.1.2 or terminated in accordance with this Agreement and shall be automatically reduced to zero upon the Expiration Date. Agreement shall mean this Credit Agreement, as the same may be supplemented or amended from time to time, including all schedules and exhibits. Allocable Amount shall have the meaning assigned to that term in Section 10.22.3. Annual Statements shall have the meaning assigned to that term in Section 5.1.9(i). Anti-Terrorism Law shall mean the Laws referred to, directly or indirectly, in Sections 7.1.15, 10.19 and 10.20. Applicable Margin shall mean, with reference to Loans to which the Base Rate applies or the LIBO-Rate applies, an amount in excess of the Base Rate or LIBO-Rate, as appropriate, according to the table set forth below: 3.25 % 2.25 % 3.25 % Assignment and Assumption Agreement shall mean an Assignment and Assumption Agreement by and among a Purchasing Bank, a Transferor Bank and Agent, as Agent and on behalf of the remaining Banks, substantially in the form of Exhibit 1.1(A). Attrition Rate shall mean, as of any date of determination, the annualized ratio, using Dollars, of RMR for the Recurring Service Contracts in question and expressed as a percentage as follows in respect of the Loan Parties’ business of the following (x) and (y), each without duplication:

Agent Deposit Account has the meaning specified in Section 2.19(c). “Agent Parties” has the meaning specified in Section 10.02(b). “Agent-Related Distress Event” means, with respect to the Administrative Agent or any Person that directly or indirectly Controls the Administrative Agent (each, a “Distressed Agent-Related Person”), a voluntary or involuntary case with respect to such Distressed Agent-Related Person under any Debtor Relief Law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Agent-Related Person or any -3