Canadian Deposit Account definition

Canadian Deposit Account means any deposit account and/or securities account located and/or maintained in Canada.
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Canadian Deposit Account shall have the meaning set forth in Paragraph 2.1(ee) of Section 2. Capital Expenditures shall mean, for any period, the aggregate expenditures of the Obligors during such period on account of, property, plant, equipment or similar fixed assets that, in conformity with GAAP, are required to be reflected in the balance sheets of the Obligors, including, without limitation, the portion of each Capital Lease.
Sample 1

Examples of Canadian Deposit Account in a sentence

  • All amounts received in Canadian Dollars by any Canadian Credit Party and any Canadian Collection Bank in respect of any Account of an Account Debtor of any Canadian Credit Party, shall upon receipt be deposited into a Core Canadian Deposit Account.

  • The Administrative Agent shall have no responsibility to any Person for any failure by it to give, or delay by it in giving, any instructions of the kind referred to above in this subparagraph (c) in connection with the Canadian Deposit Account.

  • Xxxxx-Albion and each of the other Borrowers hereby irrevocably directs, and the Administrative Agent hereby acknowledges, that all Excess Amounts transferred at any time to a Blocked Account in the name of Xxxxx-Albion or such other Borrower, as the case may be, shall be transferred directly from the Canadian Deposit Account as provided above.

  • Notwithstanding the foregoing or any other provision contained herein, proceeds maintained in the Canadian Deposit Account shall not be swept to any Dominion Account unless Availability shall fall below 12.5% of the Commitments.

  • The Company shall not permit the amount of cash maintained in the Canadian Deposit Account to exceed (x) until a deposit account control agreement for the Canadian Deposit Account has been executed and delivered to pursuant to Section 10.1.10, $3,000,000, and at any time thereafter, $7,500,000 and (y) at any time that the Canadian Deposit Account is maintained with Agent, $7,500,000.

  • Xxxxx-Albion and each of the other Companies hereby irrevocably directs, and the Administrative Agent hereby acknowledges, that all Excess Amounts transferred at any time to a Blocked Account in the name of Xxxxx-Albion or such other Company, as the case may be, shall be transferred directly from the Canadian Deposit Account as provided above.

Related to Canadian Deposit Account

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

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

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • 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.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

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

  • 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.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Cash Collateral Accounts shall have the meaning given such term in Section 9(a).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).