De Minimis Account definition

De Minimis Account means an inactive plan account that does not exceed the amount allowed by the Internal Revenue Code.
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De Minimis Account or "de minimis amount" means an inactive, retired, retired for disability, suspended, or deceased member's ASA account whereby no regular and continuing contributions are being received and the account has a balance of which the value is less than the actual cost of making a distribution of the balance to the member or the member's beneficiary.
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De Minimis Account means an account of an Issuer Subsidiary established for local tax or other regulatory or legal reasons to hold a de minimis amount of funds.
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Examples of De Minimis Account in a sentence

  • Notwithstanding anything to the contrary in any Loan Document, De Minimis Accounts held by a Grantor shall be Accounts that are Collateral hereunder, but no further action shall be required to be taken by any Grantor in respect of the establishment, perfection or priority of the grant of security in any De Minimis Account (including that no Account Control Agreement shall be required to be entered into in respect thereof).


More Definitions of De Minimis Account

De Minimis Account has the meaning assigned to that term in subsection 5.17.
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De Minimis Account is defined in Section 6.6(b)(vi).
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De Minimis Account means an account containing
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De Minimis Account means an account of a Borrower Group Company established for local tax or other regulatory or legal reasons to hold a de minimis amount of funds. “Default Interest Amount” means, on any date Collections are applied in accordance with Section 8.01(a) or (d), as applicable, all default interest due pursuant to Section 2.10 of the Credit Agreement. “Excluded Assets” has the meaning given to such term in Section 3.02. “Excluded Payments” means payments in respect of (i) indemnities (including interest thereon, if applicable) payable (directly or indirectly) by a Lessee to an indemnitee (other than to a Grantor for its own account) pursuant to a Lease and (ii) proceeds of public liability insurance in respect of the Assets payable, directly or indirectly, as a result of insurance claims paid, or losses suffered, by a Person (other than a Grantor for its own account) and including, for the avoidance of doubt, the Lessee. “Expense Account” means the bank account held by Security Trustee identified in writing to the Borrower as the “Expense Account”. “FAA” means the Federal Aviation Administration. “FAA Security Document” means, collectively, each Asset Mortgage, each Asset Mortgage and Lease Security Assignment and each Lease Security Assignment. “Grantors” has the meaning given to such term in the introductory paragraph hereto and shall include each Additional Grantor. “Hedge Collateral” has the meaning specified in Section 3.01(m). “Interest Amount” means, on any date Collections are applied in accordance with Section 8.01(a) or (d), as applicable, all accrued and unpaid interest on the Loans which has accrued at the Interest Rate. “Lease Security Assignment” means a Lease Security Assignment substantially in the form of Part C of Schedule 12 attached hereto. “Maintenance Reserve Account” means the bank account held by Security Trustee identified in writing to the Borrower as the “Maintenance Reserve Account”. “Membership Interest Collateral” means (i) the Pledged Membership Interests, all certificates, if any, from time to time representing such Pledged Membership Interests, any contracts and instruments pursuant to which any such Pledged Membership Interests are created or issued and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Membership Interest after the Closing Date; and (ii) all additional membership interests in any Borro...
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De Minimis Account means an account of an Issuer Subsidiary established for local tax or other regulatory or legal reasons to hold a de minimis amount of funds. “Debt Collateral” means the following: (i) the Pledged Debt and all instruments evidencing the Pledged Debt, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Debt after the Closing Date; and (ii) all additional indebtedness from time to time owed to each Grantor by any Issuer Subsidiary and the certificates and/or instruments evidencing such indebtedness, and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such indebtedness. “Delivery Date” has the meaning set forth in the Asset Purchase Agreement. 59 “Designated Address” means Global Corporate Trust, 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, XX 00000, Attention: Xxxx Xxxxxxxxx or such other location in the United States as may be notified in writing by the Security Trustee to the Issuer and the Trustee from time to time. “Excluded Payments” means payments in respect of (i) indemnities (including interest thereon, if applicable) payable (directly or indirectly) by a Lessee to an indemnitee (other than to a Grantor for its own account) pursuant to a Lease and (ii) proceeds of public liability insurance in respect of the Assets payable, directly or indirectly, as a result of insurance claims paid, or losses suffered, by a Person (other than a Grantor for its own account) and including, for the avoidance of doubt, the Lessee. “FAA Security Documents” means, collectively, each Asset Mortgage, each Asset Mortgage and Lease Security Assignment and each Lease Security Assignment. “French Security” has the meaning specified in Section 7.08. “Government Security” means any security that is issued or guaranteed by the United States of America or an agency or instrumentality thereof and that is maintained in book-entry on the records of the Federal Reserve Bank of New York and is subject to the Book-Entry Rules. “Grantors” has the meaning specified in the recital of parties to this Agreement. “Grantor Supplement” means a supplement to this Agreement in substantially the form attached hereto as Exhibit A-3 executed and delivered by an Issuer Subsidiary. “Hedge Agreements” means any interest rate or currency swap, cap, floor, Swaption, or other int...
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Related to De Minimis Account

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Active Account means an individual investment account in the Plan with a balance greater than $0.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

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

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Sub-Account means any of the individual sub-accounts of a Participant's Account that is maintained as provided in Article VIII.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.