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

Examples of DIP Account in a sentence

• 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.

• The Allowed Class 5 Secured Claims of the Bank Group shall be satisfied and fully discharged as follows: The Bank Group shall receive the Net Proceeds from the post-petition realization, sale or disposition of Estate Property, exclusive of the Carve Out (which shall be deposited into the Creditors' Fund on the Effective Date) and amounts necessary to fund the Liquidation Budget (which shall remain in the DIP Account).

• The Borrower and the Lenders confirm that any charges which the Agent may so make to the Borrower's DIP Account as herein provided will be made as an accommodation to the Borrower and solely at the Agent's discretion and shall constitute a Loan to the Borrower funded by the Agent on behalf of the Lenders and subject to subsections 2.03(e) and 2.03(f) of this Agreement.

• The Borrower's DIP Account will be credited upon receipt of "good funds" in the Agent Account with all amounts actually received by the Agent from the Borrower or others for the account of the Borrower.

• All accrued and unpaid interest shall be due and payable on the first Business Day of each month and shall be paid in immediately available funds to the DIP Account.

More Definitions of DIP Account

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

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

DIP Account means the Debtor’s Debtor-In-Possession bank account held at Wells Fargo Bank, N.A., with account number ending xx-1230.

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

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

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

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