Controlled Disbursements Account definition

Controlled Disbursements Account means, collectively, each account identified on Schedule III to the Security and Pledge Agreement and any subsequent account of the Borrowers at a financial institution acceptable to the Agent, or at the Agent as a zero balance, cash management account pursuant to and under controlled disbursement service agreements between the Borrowers and the Agent or such other financial institution, and through which all disbursements by the Borrowers and any designated Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1
Controlled Disbursements Account means any Deposit Account maintained by Borrower with Bank including, if applicable, the Demand Deposit Account for the purpose of depositing the proceeds of Loans made pursuant hereto.
Sample 1
Controlled Disbursements Account means, collectively, the following accounts: Account # 00000000 maintained by the Borrowers at The Northern Trust Company and any subsequent account of the Borrowers maintained at The Northern Trust Company, at another financial institution acceptable to the Agent, or at the Agent as a zero balance, cash management account pursuant to and under controlled disbursement service agreements between the Borrowers and the Agent or such other financial institution, and through which all disbursements by the Borrowers and any designated Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1

Examples of Controlled Disbursements Account in a sentence

  • The Controlled Disbursements Account is funded by transfers from the Operating Account.

  • M&T Bank 0000000 Deferred Compensation Account Anchor Hocking, LLC PNC 1131381581 Depository (Lockbox) Anchor Hocking, LLC PNC 1131381602 Disbursement Account Anchor Hocking, LLC Xxxxx Fargo 0000000000 Payables Controlled Disbursement Account Anchor Hocking, LLC Xxxxx Fargo 9600161314 Payroll Controlled Disbursements Account Anchor Hocking, LLC Xxxxx Fargo 9600161329 Lockbox Grantor Name of Securities Intermediary Account Number Account Name None.


More Definitions of Controlled Disbursements Account

Controlled Disbursements Account means, collectively, any account of the Company at a financial institution acceptable to the Administrative Agent, or at the Administrative Agent as a zero balance, cash management account under controlled disbursement service agreements between the Company and the Administrative Agent or such other financial institution, and through which all disbursements by the Company and any designated Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1
Controlled Disbursements Account means, collectively, each account identified on SCHEDULE III to the Security and Pledge Agreement and any subsequent account of Hawk or any of its Domestic Subsidiaries with (a) the Agent or (b) a financial institution other than the Agent and acceptable to the Agent as a zero balance, cash management account pursuant to and under controlled disbursement service agreements between Hawk or any of its Domestic Subsidiaries and the Agent or such other financial institution and through which all disbursements by Hawk or any of its Domestic Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1
Controlled Disbursements Account means the controlled -------------------------------- disbursements account maintained by the Company with SunTrust governed by the Account Instructions Agreement.
Sample 1
Controlled Disbursements Account means, collectively, the following -------------------------------- accounts: ACT Manufacturing, Inc. account #6301-494-203-509 maintained at Chase with respect to the Borrower's Massachusetts operations, ACT Manufacturing, Inc. account #6301-494-203-509 maintained at Chase with respect to the Borrower's Georgia operations, and any subsequent accounts of the Borrower maintained at Chase as a zero balance, cash management account pursuant to and under controlled disbursement service agreements between the Borrower and Chase, and through which all disbursements by the Borrower and any designated Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1
Controlled Disbursements Account means, collectively, the following accounts: ACT Manufacturing, Inc. account #6301-494-203-509 maintained at Chase with respect to ACT's Massachusetts operations, ACT Manufacturing, Inc. account #6301-494-203-509 maintained at Chase with respect to ACT's Georgia operations, CMC Industries, Inc. account #6301-503-730-509 maintained at Chase with respect to CMC's Mississippi operations, and any subsequent accounts of the Borrowers maintained at Chase as a zero balance, cash management account pursuant to and under controlled disbursement service agreements between the Borrowers and Chase, and through which all disbursements by the Borrowers and any designated Subsidiaries are made and settled on a daily basis with no uninvested balance remaining overnight.
Sample 1

Related to Controlled Disbursements Account

  • 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.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Agent’s Account means the Deposit Account of Agent identified on Schedule A-1.

  • Other Investments Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund, other than Company Stock.

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

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • 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.

  • 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.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

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

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

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.