Applicable Accounts definition
Examples of Applicable Accounts in a sentence
Other than Applicable Accounts as to which the time limit set forth in the proviso in the immediately preceding sentence has not expired, none of the Loan Parties will deposit or maintain Collateral (including the proceeds thereof) in an Applicable Account that is not subject to a control agreement.
Subject to Section 8.1.20 [Post-Closing Matters], as of the date hereof, all Applicable Accounts are subject to a valid and perfected first priority security interest in favor of the Collateral Agent and are subject to a Control Agreement.
As of the date hereof, all Applicable Accounts are subject to a valid and perfected first priority security interest in favor of the Collateral Agent and are subject to a Control Agreement.
At the same time as it delivers the Applicable Accounts referred to in paragraphs (a) and (b) of this Clause 12.5, the Borrower shall deliver to the Agent a certificate in the form set out in Schedule 6 demonstrating its compliance (or not, as the case may be) with the provisions of Clause 12.4 signed by the chief financial officer of the Borrower.
If the Applicable Accounts have funds available for prospective investments suitable for the Fund and for such Applicable Account, such investment opportunities will rotate through the rotation queue on a sequential basis independent of the Unfunded Capital Commitments of the Fund.