Approved Deposit Account definition

Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.
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Approved Deposit Account means each Deposit Account in respect of which a Loan Party shall have entered into a Deposit Account Control Agreement.
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Approved Deposit Account has the meaning specified in the Pledge and Security Agreement.
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Examples of Approved Deposit Account in a sentence

  • Each Credit Card Notification shall require (without further consent of the Loan Parties) the ACH, Depositary Transfer Check, Electronic Depository Transfer or wire transfer by each Credit Card Issuer and Credit Card Processor no less frequently than each Business Day on which such Approved Account Bank is not closed due to a local bank holiday to an Approved Deposit Account (each a “Merchant Card Account”) the cash proceeds of all credit card charges (including Credit Card Receivables).

  • None of the Borrowers shall make any material change in their cash management practices, including any change that would cause amounts held in any Approved Deposit Account not to be swept on a daily basis to the Payment Account.

  • Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to an Approved Deposit Account or a Dominion Account (or a lockbox relating to an Approved Deposit Account or a Dominion Account).

  • If there are no Loans outstanding and no other Obligations are then due and payable, then the funds in such Approved Deposit Account shall be retained in such Approved Deposit Account.

  • During the continuance of any Default or Event of Default, as long as any of the Obligations or the Commitment remain outstanding, neither Borrower nor any Person or entity claiming by, through or under Borrower shall have any control over the use of, or any right to effect a withdrawal from, any Approved Deposit Account.


More Definitions of Approved Deposit Account

Approved Deposit Account includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.
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Approved Deposit Account means any deposit account of yours with us that is approved by us as accessible for transfers of funds through Online Banking;
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Approved Deposit Account means an Approved U.S. Deposit Account, an Approved Bermuda Deposit Account, an Approved Canadian Deposit Account, an Approved Irish Deposit Account or an Approved U.K. Deposit Account, as the context may require.
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Approved Deposit Account shall have the meaning assigned thereto in Section 6.11 (which, for the avoidance of doubt, shall not include any Excluded Accounts).
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Approved Deposit Account has the meaning specified in the Bank Security Agreement.
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Approved Deposit Account means each Deposit Account (a) that is maintained within the United States with a commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia having combined capital and surplus in excess of $500,000,000 and otherwise acceptable to the Agent, (b) as to which a DDA Notification has been executed and delivered to the Agent and (c) as to which the deposits therein are not subject to any Lien, security interest or restriction upon withdrawal, other than the Agent’s Liens and rights of setoff, Liens or adjustment of the applicable depositary bank.
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Approved Deposit Account means a Deposit Account subject to an effective Deposit Account Control Agreement and maintained by any Grantor with a Deposit Account Bank. "APPROVED DEPOSIT ACCOUNT" includes all monies on deposit in such Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.
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