Dominion Account definition

Dominion Account a special account established by Borrowers at Bank of America or another bank reasonably acceptable to Agent, which is subject at all times to a Deposit Account Control Agreement.

Dominion Account shall have the meaning assigned to such term in Section 5.11(b).

Dominion Account means a special account established by a Borrower at Bank of America or another bank acceptable to the Administrative Agent, over which the Administrative Agent will have exclusive dominion and control for withdrawal purposes at any time; provided that, the applicable Borrower may access the funds in the Dominion Account until such time as a Cash Dominion Trigger Period exists.

Examples of Dominion Account in a sentence

• The ledger balance in the main Dominion Account of the Canadian Borrower as of the end of a Business Day shall be applied to the Canadian Facility Obligations of the Canadian Borrower at the beginning of the next Business Day, during any Dominion Trigger Period.

• The ledger balance in the main Dominion Account of the U.K. Borrowers as of the end of a Business Day occurring on and after the Closing Date shall be applied to the U.K./Dutch Facility Obligations of the U.K./Dutch Borrowers at the beginning of the next Business Day during any Dominion Trigger Period.

• The ledger balance in the main Dominion Account of the German Borrower as of the end of a Business Day shall be applied to the German Facility Obligations of the German Borrower at the beginning of the next Business Day, during any Dominion Trigger Period.

• If any Obligor (other than Obligors which are Topgolf and Subsidiaries of Topgolf) receives cash or Payment Items with respect to any ABL Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

• If a Dominion Account of a U.S. Domiciled Obligor, Canadian Domiciled Obligor, German Domiciled Obligor or Dutch Domiciled Obligor is not maintained with Bank of America or Bank of America (Canada), as applicable, Agent may, during any Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America or Bank of America (Canada), as applicable.

More Definitions of Dominion Account

Dominion Account has the meaning set forth in Section 2.10(c) hereof.

Dominion Account with respect to the Canadian Domiciled Loan Parties, the Canadian Dominion Account, and with respect to the U.S. Facility Loan Parties, the U.S. Dominion Account.

Dominion Account means the U.S. Dominion Account and the Canadian Dominion Account.

Dominion Account means a special concentration account established by the Borrowers and maintained with the Administrative Agent or another bank reasonably acceptable to the Administrative Agent, over which the Administrative Agent has exclusive control for withdrawal purposes pursuant to the terms and provisions of this Agreement and the other Loan Documents.

Dominion Account means any Deposit Account of a Loan Party at Bank of America or its Affiliates or branches or another bank acceptable to the Administrative Agent, in each case which is subject to a Deposit Account Control Agreement.

Dominion Account means, collectively, the U.S. Dominion Account and the Canadian Dominion Account.

Dominion Account with respect to (a) the Canadian Loan Parties, each Canadian Dominion Account, (b) the UK Loan Parties, each UK Dominion Account, and (c) the US Loan Parties, each US Dominion Account.