Conditional Controlled Account definition

Conditional Controlled Account the deposit account of the Borrower numbered 285031586 located at the Conditional Controlled Account Bank or any successor account that is subject to a Conditional Account Control Agreement executed by the Borrower, the Administrative Agent and the applicable Conditional Controlled Account Bank.
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Conditional Controlled Account the deposit account of the Borrower numbered [ ] located at the Conditional Controlled Account Bank or any successor account that is subject to a Conditional Account Control Agreement executed by the Borrower, the Administrative Agent and the applicable Conditional Controlled Account Bank.
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Examples of Conditional Controlled Account in a sentence

  • In the absence of any subsequent monthly instructions, Cash Management Agent is instructed to deposit in the ESH Conditional Controlled Account the same amount as was deposited in such account during the previous month and to deposit into the ESA Conditional Controlled Account any excess amounts in the Borrower Remainder Subaccount.

  • The division of funds in the Borrower Remainder Subaccount between the ESH Conditional Controlled Account and the ESA Conditional Controlled Account shall be set forth in subsequent monthly instructions delivered by Mortgage Borrower to the Domestic Cash Management Agent in accordance with the Domestic Cash Management Agreement.

  • After the occurrence and during the continuation of a Trigger Event or an Adjusted Trigger Event, Borrower shall cause each of its direct and indirect Subsidiaries to make the maximum amount of cash distributions to its respective parent entity that it is not prohibited from making under the terms of the Mortgage Loan Documents directly into the Conditional Controlled Account.

  • XXX XXX XXXX Conditional Controlled Account $ 10 million DACA w/JPM JPMorgan Chase Bank, X.X. XXX Hospitality, Inc.

  • The Administrative Agent shall have received (i) evidence satisfactory to it that each of the Account and the Conditional Controlled Account has been established and continues to exist, (ii) the Account Control Agreement, executed and delivered by the Administrative Agent, the Borrower and the Account Bank and (iii) the Conditional Account Control Agreement, executed and delivered by the Administrative Agent, the Borrower and the Conditional Controlled Account Bank.

  • Notwithstanding the foregoing in this Section 2.25, as long as no Adjusted Trigger Event, Default or Event of Default has occurred and is continuing, the Administrative Agent shall direct that all amounts in the Account be remitted to the Conditional Controlled Account.

  • The Term Loan Agent and each Additional Agent hereby agree not to issue any instructions concerning the Conditional Controlled Account or the disposition of any funds in the Conditional Controlled Account until after the delivery of a Conditional Account Agent Transfer Notice by the Revolving Agent to the Conditional Controlled Account Bank.

  • XXX XXX XXXX Conditional Controlled Account $ 5 million DACA w/JPM Bank of America, N.A. Extended Stay America, Inc.

  • The Revolving Agent hereby agrees to deliver a Conditional Account Agent Transfer Notice to the Conditional Controlled Account Bank (i) upon the Discharge of Revolving Credit Obligations and (ii) prior to the Discharge of Revolving Credit Obligations, at the request of the Initial Controlling Other Pari Passu Agent, after the expiration of the Initial Standstill Period and so long as the Revolving Agent has not commenced any Enforcement Action.

  • In the event that a Default or Event of Default has occurred and is continuing, the Administrative Agent shall direct the Conditional Controlled Account Bank to transfer any amounts on deposit in the Conditional Controlled Account, or any amounts that are deposited in the Conditional Controlled Account during such period, to the Account.

Related to Conditional Controlled Account

  • Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • 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.

  • 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.

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

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Controlled Deposit Amount means, for any Distribution Date with respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date.

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

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

  • 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.

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

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • 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.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

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

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, or (as the case may be) apply any value distributed on account of any commodity contract as directed by Agent, in each case, without the further consent of such Borrower or Guarantor and including such other terms and conditions as Agent may require.

  • 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.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.