Controlled Bank Account definition

Controlled Bank Account has the meaning assigned to such term in Section 19(j).
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Controlled Bank Account means an account established with ● or such other financial institution mutually acceptable to Buyer and Seller the terms of which require the written authorization of both Buyer and Seller to withdraw, transfer, or otherwise exercise control over any of the funds deposited into the account or to close the account.
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Controlled Bank Account means any bank account maintained by a Loan Party that is subject to a Deposit Account Control Agreement.
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Examples of Controlled Bank Account in a sentence

  • All proceeds received by the Pledgor from any Investor pursuant to a Capital Call Notice issued after the date hereof shall be deposited directly into the Controlled Bank Account until disbursed by the Pledgor.

  • Any and all amounts deposited into the Controlled Bank Account (together with all interest earned on amounts in such bank account) shall, at the option of the Bank in its sole discretion, be held by the Bank as collateral security for the payment of any or all of the Secured Obligations or applied by the Bank to repayment in full or in part of any or all of the Secured Obligations.

  • The Controlled Bank Account shall have been established with terms governing its control that are acceptable to both Buyer and Seller.

  • The EMEA Controlled Bank Account is maintained at Wells Fargo London.

  • Seller agrees and acknowledges that Buyer will arrange for its lender to wire the Cash Payment directly to an account designated by Seller on the Closing Date, as set forth in Section 2.06(c), except for the Holdback, which will be deposited directly into the Controlled Bank Account.

  • As promptly as practicable following the execution of this Agreement, the parties shall, acting reasonably and in good faith, establish the Controlled Bank Account.

  • Upon compliance with the terms set forth above, such bank account shall constitute a Controlled Bank Account for purposes of this Agreement.

  • In this paper we discuss the meaning of territorial cohesion in relation with the polycentric development concepts and policies in Slovenia and existence of functional (urban) regions.

Related to Controlled Bank Account

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • 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.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • Controlled Deposit Amount means, with respect to any Transfer Date, the sum of (a) the Controlled Accumulation Amount for such Transfer Date and (b) any existing Accumulation Shortfall.

  • fully managed account means an account of a client for which a person makes the investment decisions if that person has full discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

  • AFFILIATED SUBCUSTODIAN means a Subcustodian that is an Affiliate.

  • Controlled Account means each deposit account and securities account that is subject to a Qualifying Control Agreement.

  • Deposit Account Bank means a financial institution selected or 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.

  • Controlled insurer means a licensed insurer that is either directly or indirectly

  • 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.

  • 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.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • 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.

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

  • Direct Account : means any Account which is not an ISA Account.

  • Investment Account As defined in Section 3.12(a).

  • Insured Depository Institution Insured Depository Institution shall have the meaning ascribed to such term by Section 1813(c)(2) of Title 12 of the United States Code, as amended from time to time.

  • 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.

  • Fund Custody Account means any of the accounts in the name of the Trust, which is provided for in Section 3.2 below.