Assigned Bank Account means available Dollars in or credited to any Deposit Account of the Borrower held at a bank in the United States which has signed a Control Agreement in respect of such Deposit Account, and which Deposit Account is subject to a perfected first priority lien in favor of the Administrative Agent, subject only to Liens in favor of the applicable depositary bank which are described in clause (g) of the definition of “Permitted Encumbrances”.
Assigned Bank Account shall be any account of the Company held at any of the Lenders, or another bank which has signed a Deposit Account Control Agreement, and which account is subject to a perfected first priority lien in favor of the Agent. The Assigned Bank Accounts as of the date of this Agreement are listed in Exhibit 1 annexed hereto, which list may be amended from time to time at the request of the Company with the prior written approval of the Lenders.
Assigned Bank Account means available Dollars in or credited to any deposit account of the Borrower held at Agent or at any other bank in the United States which has signed a deposit account control agreement in respect of such deposit account, and which deposit account is subject to a perfected first priority lien in favor of Agent, subject only to Liens in favor of the applicable depositary bank as and to the extent permitted under Section 11.2(ix).2
Examples of Assigned Bank Account in a sentence
While total asset of the company rose by a sum of N1.6 Billion to close the year at N7.3 Billion; the composition of the asset was well structured to position the company for better future performance.
More Definitions of Assigned Bank Account
Assigned Bank Account means available Dollars in or credited to any Deposit Account of the Borrower held at a bank in the United States which has signed a Control Agreement in respect of such Deposit Account, and which Deposit Account is subject to a perfected first priority lien in favor of the Administrative Agent, subject only to Liens in favor of the applicable depositary bank which are described in clause(g) of the definition of “Permitted Encumbrances”.