Canadian Blocked Accounts definition

Canadian Blocked Accounts has the meaning specified in Section 7.01(i).
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Canadian Blocked Accounts has the meaning specified in Section 7.01(i). “Canadian Borrower” and “Canadian Borrowers” has the meaning specified in the preamble to this Agreement. “Canadian Collateral” means the Collateral owned by (or, in the event such Collateral has been foreclosed upon, immediately prior to such foreclosure that was owned by) a Canadian Loan Party. “Canadian Defined Benefit Plan” means a Canadian Pension Plan which contains a “defined benefit provision” as defined in subsection 147.1(1) of the Income Tax Act (Canada). “Canadian Dollars,” and the sign “CND$” each means lawful money of Canada. “Canadian Dominion Account” means a special concentration account established by a Canadian Borrower at an Affiliate or branch of the Agent in Canada, over which the Agent has exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Loan Documents. “Canadian Guarantor” means each Guarantor that is incorporated or otherwise organized under the laws of Canada or any province or territory thereof.
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Canadian Blocked Accounts as defined in the definition of Canadian Pledged Accounts.
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Examples of Canadian Blocked Accounts in a sentence

  • The Borrower shall not be permitted to make withdrawals from the Canadian Blocked Accounts at any time, and all interest and increases, if any, accrued thereon shall remain in such accounts.

  • All proceeds of the sale or other disposition of any Canadian Collateral shall be deposited directly into Canadian Blocked Accounts.

  • Notwithstanding the foregoing, the Borrower may, at any time, request that amounts on deposit in the Canadian Blocked Accounts be applied by the Agent to prepay outstanding Loans, such prepayment to be made in accordance with Section 2.4.

  • The Borrower shall maintain lockbox agreements, in form and substance reasonably satisfactory to the Administrative Agent, with the Blocked Account Banks which maintain Canadian Lockboxes, pursuant to which lockbox agreements all checks, drafts or other items or amounts in such Canadian Lockboxes shall be deposited by such Blocked Account Bank in the Canadian Blocked Accounts maintained by such Blocked Account Bank.

  • Cash of the Borrower and its Subsidiaries in Blocked Accounts and Canadian Blocked Accounts and investments of the type described in Section 9.3(a), (b), (c) and (i) in which the Administrative Agent, for the benefit of the Lenders and the Administrative Agent has a security interest.

  • Cash of the Borrower and its Subsidiaries in Blocked Accounts and Canadian Blocked Accounts and investments of the type described in (S)9.3(a), (b), (c) and (i) in which the Administrative Agent, for the benefit of the Lenders and the Administrative Agent has a security interest.

  • The Borrower shall at all times cause any and all revenue received by the Borrower or its Subsidiaries in Canadian dollars to be promptly deposited in the Canadian Blocked Accounts.


More Definitions of Canadian Blocked Accounts

Canadian Blocked Accounts means any lockbox account, dominion account or other “blocked account” of a Borrower which are established at a Blocked Account Bank in Canada.
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Related to Canadian Blocked Accounts

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

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

  • Excluded Accounts means any Xxxxx Cash Account and any other deposit account used for (a) funding payroll or segregating payroll taxes or funding other employee wage or benefit payments, (b) segregating 401(k) contributions or contributions to an employee stock purchase plan or (c) funding other employee health and benefit plans.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Deposit Accounts means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.