Controlled Depositary definition

Controlled Depositary has the meaning assigned thereto in Section 4.6.
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Controlled Depositary shall have the meaning set forth in Section 4.14. "Controlled Intermediary" shall have the meaning set forth in Section 4.14. "Copyright Security Agreement" means each Copyright Security Agreement in substantially the form and substance of Annex II hereto. "Copyrights" means all rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to copyrights and all mask works, database and design rights, whether or not registered or published, all registrations and recordations thereof and all applications in connection therewith. "Default" means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. "Deposit Accounts" shall have the meaning set forth in Article 9 of the UCC. "Documents" shall have the meaning set forth in Article 9 of the UCC. "Equipment" shall have the meaning set forth in Article 9 of the UCC. "Event of Default" means an event described in Section 5.1. "Excluded Account" means: (i) any Deposit Account or Securities Account exclusively used as a trust or escrow account, in each case entered into in the ordinary course of business and where the applicable Grantor holds the funds exclusively for the benefit of an unaffiliated third party, (ii) any Deposit Account or Securities Account exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for any Grantor's employees, (iii) any Deposit Account or Securities Account
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Controlled Depositary has the meaning assigned thereto in Section 4.6(a). "Controlled Intermediary" has the meaning assigned thereto in Section 4.6(a).
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Examples of Controlled Depositary in a sentence

  • Subject to Section 8.18 of the Credit Agreement, after the date hereof, all Deposit Accounts (other than Specified Deposit Accounts) and all Investment Property (other than Specified Investment Property) will be maintained with the Administrative Agent or with a Controlled Depositary or a Controlled Intermediary, as applicable.

  • After the date hereof, all Deposit Accounts (other than Specified Deposit Accounts) and all certificated Investment Property or uncertificated Investment Property held in a Securities Account (in each case, other than Specified Investment Property) will be maintained with the Administrative Agent or with a Controlled Depositary or a Controlled Intermediary, as applicable.

  • In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement, the Administrative Agent, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Administrative Agent or a Controlled Depositary or Controlled Intermediary, as applicable.


More Definitions of Controlled Depositary

Controlled Depositary has the meaning assigned thereto in 5.2.
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Controlled Depositary. “Controlled Intermediary”, “Deposit Account Control Agreement” and “Securities Account Control Agreement” in their entirety.
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Controlled Depositary and any such Securities Intermediary executing and delivering any such control agreement, a "Controlled Intermediary"); provided that, notwithstanding the foregoing, so long as no Default or Event of Default has occurred and is continuing, no Grantor shall be required to obtain a control agreement with respect to Deposit Accounts (other than the Collection Account) with amounts on deposit that do not exceed $100,000 for any such Deposit Account or $1,000,000, when aggregated with the amounts on deposit in all other Deposit Accounts for which a control agreement has not be obtained (other than those specified in clauses (i)(A) and (i)(B) of this Section 4.06(a)), at any time. In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement within the period of ninety (90) days following the Closing Date, the Administrative Agent, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Administrative Agent or a Controlled Depositary or Controlled Intermediary, as applicable.
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Controlled Depositary means a depositary bank that has executed and delivered a control agreement sufficient, when considered together with the applicable provisions of the Intercreditor Agreements, to provide the Collateral Agent with Control of the applicable Deposit Account or Investment Property.
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Related to Controlled Depositary

  • Depository The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.

  • Depositary means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture.

  • Common Depositary has the meaning specified in Section 304.

  • Common Depository has the meaning specified in Section 304(b).

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.