Blocked Local Account definition

Blocked Local Account means, with respect to an Originator, an account established and maintained at a Depositary Bank by the Purchaser into which Obligor payments with respect to Receivables, as well as payments on cash sales, in each case, generated by such Originator are deposited.
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Blocked Local Account means, with respect to an Originator, an account established and maintained at a Depositary Bank by the Seller into which Obligor payments with respect to Receivables, as well as payments on cash sales, in each case, generated by such Originator are deposited; provided, however, that during the period from May 19, 2021 to September 1, 2021, Account # 1059629166 established and maintained at PNC by Ferguson shall be deemed a Blocked Local Account for all purposes under this Agreement and the other Transaction Documents.
Sample 1
Blocked Local Account means, with respect to an Originator, an account established and maintained at a Depositary Bank by the Seller into which Obligor payments with respect to Receivables, as well as payments on cash sales, in each case, generated by such Originator are deposited; provided, however, that during the period from May 19, 2021 to September 1, 2021, Account # 0000000000 established and maintained at PNC by Xxxxxxxx shall be deemed a Blocked Local Account for all purposes under this Agreement and the other Transaction Documents. “Break Funding Costs” shall mean the amount payable by the Seller on any Reduction
Sample 1

Examples of Blocked Local Account in a sentence

  • As used in this Agreement, the following terms shall have the following meanings: “Account” shall mean any Lockbox Account, any Depositary Account, any Blocked Local Account, the Concentration Account or the Collection Account.

Related to Blocked Local Account

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Collection Accounts As defined in Section 3.10(a).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • 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.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.