DIP Account definition

DIP Account means a deposit account in the name of the Administrative Agent, on behalf of the Secured Parties, in which the proceeds of the Term Loans shall be deposited and held and used solely for the purposes permitted hereunder; provided that, until the date the DIP Account is opened with the Administrative Agent, the DIP Account shall be a segregated account held by the Debtors.

DIP Account means the segregated debtor-in-possession account opened by Sellers solely for the purpose of the sale of the Assets contemplated by this Agreement.

DIP Account has the meaning assigned to such term in Section 5.19.

Examples of DIP Account in a sentence

• The Debtor shall maintain at least: (a) $200,000 until the entry of the Final Order, and (b) $200,000 from and after the entry of the Final Order, in either case, in its operating DIP Account with the Post- Petition Agent., Account Number XXXXX6684.

• The Agent shall maintain a separate loan account (the "Borrower's DIP Account") on its books in the name of the Borrower in which the Borrower will be charged with Loans made by the Agent or the Lenders to the Borrower hereunder and with any other Obligations.

• CS Facility Claim, receive its Pro Rata share of (i) any cash on hand in the PS II DIP Account remaining after repayment of the PS II DIP Claims and (ii) ProtoStar Ltd.

• Upon satisfaction or waiver of the conditions precedent specified in Section 3 and receipt of all requested funds, the Administrative Agent shall make the proceeds of the Loans available to the Borrower on each Funding Date by causing an amount of same day funds in Dollars equal to the proceeds of all such Loans received by the Administrative Agent from the Lenders to be wired to the DIP Account.

• The Credit Parties shall not create, incur, assume or permit to exist any Lien on the DIP Account or any amounts held therein, other than described in Section 6.2(a)(i) and (b)(vii)(B).

More Definitions of DIP Account

DIP Account means the segregated, interest-bearing account held by FastShip, LLC into which funds up to $1.6 million in total, borrowed from the DIP Lender tofund the prosecution of the IP Litigation, including certain fees and expenses attendant thereto, shall be deposited and maintained.

DIP Account shall have the meaning assigned to such term in Clause 22.14(f).

DIP Account means an account at a financial institution mutually agreed by Borrower and Lender.

DIP Account means the Debtor-in-Possession account of Rabbe Farms maintained at U.S. Bank, Account No. -9930.

DIP Account means the Debtors’ respective Debtor in Possession Bank Accounts, on which

DIP Account means the Debtor’s Debtor-in-Possession bank

DIP Account means account number maintained at Harris N.A.