Control Accounts definition

Control Accounts means summary accounts designed to control accountability for individual property records. Unlike individual property records that establish accountability for particular items of property, control accounts accumulate the total cost or value of the custodian’s property and, through entries to the control accounts documenting acquisitions, transfers and dispositions, provide evidence of the change in that total cost or value over periods of time as well as the total cost or value at any time.

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Control Accounts means, collectively (i) Account No. DE3550 that is subject to that certain Account Control Agreement, dated as of May 27, 2013, by and among the Borrower, Capital Advisors Group, Inc., as Investment Manager, Capital Royalty Partners II, L.P., as Lender, and State Street Bank and Trust Company, as Securities Intermediary; (ii) Account Nos. 3300994367 and 3300994371 that are subject to that certain Deposit Account Control Agreement, dated as of August15, 2013, by and among Borrower, Capital Royalty Partners II, L.P. and Silicon Valley Bank and (iii) Account No. DE 3551 that is subject to that certain Account Control Agreement, dated as of April 2015, by and among Valeritas Security Corporation, as Borrower, Capital Advisors Group, Inc., as Investment Manager, Capital Royalty Partners II L.P., as Lender, and State Street Bank and Trust Company, as Securities Intermediary.

Control Accounts means those accounts maintained in the name of the Asset Entities or Issuer at banks other than the Collection Account Bank that are subject to Account Control Agreements and to the lien of the Indenture Trustee on behalf of the Secured Parties under the Indenture.

Examples of Control Accounts in a sentence

• The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

• In any legal action or proceeding arising out of or in connection with this Agreement, the entries made in the accounts maintained pursuant to Clause 36.4 (Maintain Accounts) and Clause 36.5 (Control Accounts) shall, in the absence of manifest error, be prima facie evidence of the existence and amounts of the specified obligations of the Obligors.

• Interest Payment Dates; Interest and Fee Basis; Taxes; Loan and Control Accounts.

• Prior to the occurrence of an Event of Default, the Trustee shall be authorized to allow the Servicer to effect or direct deposits into the Control Accounts.

• This Agreement includes but is not limited to all Sweeps made by us from a Control Account set up by us as Lender including but not limited to the Asset Based Lending or other lending department of Bank, between you and us (“Bank Control Account”), and as such Bank Control Accounts, are included, on the Sweep Service Form, and in that case, also subject to the Bank Control Account Authorization Addendum hereto.

More Definitions of Control Accounts

Control Accounts means those accounts maintained in the name of the Asset Entities or Borrower at banks other than the Collateral Agent that are subject to Account Control Agreements and to the lien of the Collateral Agent on behalf of the Secured Parties under this Agreement.

Control Accounts means those certain deposit accounts maintained in the name of the Obligors that are subject to Account Control Agreements and the lien of the Indenture Trustee under this Base Indenture pursuant to Section 7.14 for the purposes set forth in Section 3.01 of this Base Indenture.

Control Accounts means those accounts maintained in the name of the Asset Entities or Issuers at banks other than the Collection Account Bank that are subject to Account Control Agreements and to the lien of the Indenture Trustee on behalf of the Secured Parties under the Indenture.

Control Accounts means collectively, (i) the School Cost and Purchase Control Account, (ii) the School Purchase Control Account, (iii) the School Cost Control Account, (iv) any deposit account established pursuant to Section 2.11(d), and (v) any other control account established for the benefit of Lender in accordance with the terms of this Agreement.

Control Accounts has the meaning provided in Section 5.5(a)(ii) hereof.

Control Accounts has the meaning set forth in the ABL Credit Agreement as in effect on the date hereof and shall include any substantially similar accounts pursuant to any Replacement ABL Credit Agreement.

Control Accounts has the meaning specified therefor in Section 8.01(a).