Canadian Operating Account definition

Canadian Operating Account means a deposit account to be established at the Canadian Bank after the date hereof by one or more of the Canadian Borrowers.
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Canadian Operating Account means the Canadian Dollar account established on behalf of the Borrower and described in Section 3.8;
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Canadian Operating Account means Company’s Canadian Dollar deposit account maintained with Xxxxx Fargo.
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Examples of Canadian Operating Account in a sentence

  • So long as Excess Availability equals or exceeds Minimum Availability and no Default or Event of Default has occurred, the Canadian Borrower shall be entitled to use the funds in the Canadian Operating Account to repay Canadian Base Rate Loans, and to otherwise transfer funds out of the Canadian Operating Account all in accordance with the terms hereof (including to make Qualified Investments).

  • During the existence of a Default or an Event of Default, all sums deposited in the Revenue Depository Accounts with the Canadian Bank or the Canadian Operating Account shall be deposited with the Agent by depository transfer check or by wire transfer at the Canadian Borrower's expense to be held for the benefit of the Canadian Bank for application to the Canadian Loan Account.

  • Immediately upon receipt of revenues in Account No. 537-60, all sums deposited in such Revenue Depository Account shall be transferred for deposit into Account No. 6501-23 (the "Canadian Operating Account").

  • The Borrower hereby expressly acknowledges and agrees with respect to the Canadian Dollar Account, the U.S. Dollar Account, the Canadian Operating Account and the U.S. Operating Account, that all deposits and credits made into said accounts under the terms hereof by the Agent-Lender, in its personal capacity as a Lender or in its capacity as Agent on behalf of the Lenders, shall constitute prima facie evidence of Advances by the Lenders under the terms hereof.

  • The Borrower also hereby expressly acknowledges and agrees with respect to the Canadian Operating Account and the U.S. Operating Account, that all deposits and credits made into said accounts under the terms hereof by the Overdraft Provider shall constitute prima facie evidence of Advances by the Overdraft Provider under the Revolving Facility.

  • All payments, repayments and prepayments of principal and interest on Advances made by the Overdraft Provider pursuant to Section 3.8, until the date at which such Advances shall have been redistributed in accordance with Section 16.3, shall be effected by direct payments to the Overdraft Provider by deposit into the Canadian Operating Account or the U.S. Operating Account, as the case may be.

  • Each such notice shall be effective upon receipt by Administrative Agent, shall be irrevocable, and shall specify the date, amount and type of borrowing, in the case of a LIBOR borrowing, the initial Interest Period therefor, whether such Revolving Loan will be a Canadian Revolving Loan or a US Revolving Loan, and, for purposes of all Canadian Loans, whether the proceeds of such Canadian Revolving Loan will be funded to the Canadian Operating Account or to the Canadian Domestic Operating Account.

Related to Canadian Operating Account

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

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

  • Holding Account means an account:

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

  • 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.

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

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

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

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • 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.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

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

  • Participating Account a separate account investing all or a portion of its assets in the Trust, including the Account.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • 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.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • L/C Cash Collateral Account means an account of the Borrower to be maintained with the Administrative Agent, in the name of the Administrative Agent and under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

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

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Facility Account means the Seller’s Account No. 55-66681 at Bank One.