Controlled Account definition

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.

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

Controlled Account shall have the meaning set forth in Section 5.11.

Examples of Controlled Account in a sentence

The Obligors shall have until the date that is ninety (90) days following (i) the Closing Date (or such later date as may be agreed to by the Administrative Agent), or (ii) the date the applicable Obligor begins receiving payments from any Federal Health Care Program, to cause all amounts deposited into the Segregated Health Care Accounts to be automatically swept on a daily basis to a Controlled Account pursuant to a Sweep Agreement.
It will not, and will not permit any of its Subsidiaries to, establish or maintain any bank account and any securities account that is not a Controlled Account (other than an Excluded Account) and will not, and will not permit any of its Subsidiaries to, deposit proceeds in any account that is not a Controlled Account; (other than an Excluded Account).
Notwithstanding anything to the contrary contained herein, so long as no Default or Event of Default has occurred and is continuing, the Company may request that all or a portion of Eligible Cash Collateral be transferred to another Controlled Account of the Credit Parties that is not fully-blocked, it being understood that upon such transfer, Eligible Cash Collateral shall be reduced by the amount of such transferred cash.
Seller shall maintain the Custodial Agreement and Controlled Account Agreement in full force and effect.
With respect to the protective security interest granted by Seller in Section 11.01, upon the delivery of the Confirmations and the Purchased Asset Documents to Custodian, the execution and delivery of the Controlled Account Agreement and the filing of the UCC financing statements as provided herein, such security interest shall be a valid first priority perfected security interest to the extent such security interest can be perfected by possession, filing or control under the UCC.

More Definitions of Controlled Account

Controlled Account has the meaning set forth in Section 8.18(a).

Controlled Account means (a) any Deposit Account of a Note Party that is subject to a Deposit Account Control Agreement, and (b) any Securities Account of a Note Party that is subject to a Securities Account Control Agreement.

Controlled Account means a Deposit Account, a Securities Account or a Commodity Account that is subject to a Deposit Account Control Agreement, a Securities Account Control Agreement or a Commodity Account Control Agreement, as the case may be.

Controlled Account means each of the Reserve Account, the Collection Account and the Lockbox Account, and the “Controlled Accounts” means all of such accounts.

Controlled Account is defined in Section 7.13.

Controlled Account means a deposit account maintained at the Controlled Account Bank for the purpose of receiving deposited Collections.

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 each of the applicable Issuing Lenders that is entitled to Cash Collateral hereunder at the time such control agreement is executed.