Excepted Accounts definition

Excepted Accounts means: (i) the Franklin Txxxxxxxx High Income Fund, a series of Franklin Global Trust; and (ii) the Franklin Txxxxxxxx internal account (Franklin Advisers – Separate Account for high yield).
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Excepted Accounts means those certain depository and other bank accounts listed on Schedule 1.1B, so long as (excluding the Borrower's payroll accounts and Honduran Accounts) no more than $10,000 is on deposit in any such account at any time. The Honduran Accounts shall be considered Excepted Accounts so long as no more than $250,000 is on deposit in any such account for more than 5 consecutive Business Days; provided, however, a Honduran Account may, for no more than 5 consecutive Business Days during the month of June of each year and 5 consecutive Business Days during the month of December of each year have additional deposits of up to $1,500,000 for payment of extra payroll and other benefit payments in accordance with the customs and practice of the Borrower's Honduran Subsidiaries and still be considered an Excepted Account hereunder.
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Excepted Accounts means any deposit accounts in which funds are being held in trust, in escrow or in a custodial capacity on behalf of third parties even though deposited by the Borrowers.
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Examples of Excepted Accounts in a sentence

  • Buyer and the Sellers agree that it is their shared intention that the Excepted Accounts be collected, liquidated or otherwise resolved in a prompt and prudent manner, taking into account the likelihood that any deficit or under-margin circumstance will be resolved by the client in a timely manner in the ordinary course of business.

  • Any dispute with respect to the Excepted Accounts and/or any instruction given pursuant to this Section 8.21 shall be subject to resolution by the Bankruptcy Court.

  • Each Access Person must submit Quarterly Transactions Reports within 30 days of the each calendar quarter end for all transactions during the quarter in Reportable Securities, except those transactions effected according to an Automatic Investment Plan and transactions in Excepted Accounts.

  • All managed accounts, other than Excepted Accounts, managed by the Investment Adviser for an Advisory Person and his or her immediate family are frozen.

  • The $12,000,000 additional escrow will be remitted back to Seller in the proportion of collected Excepted Accounts to total Excepted Accounts (line 9A, CFTC Form-1FR-FCM) as of the Closing Date.

  • Within 3 days of the Closing Date, the Obligors shall, and shall cause each Domestic Subsidiary (other than EEX Reserves and its Subsidiaries until such time as the Enron Prepay Obligation has been terminated pursuant to Section 8.09(e)) to, hold all Deposit Accounts and Securities Accounts, other than the Excepted Accounts, with a Lender or an Affiliate thereof.

  • At all times thereafter, the Grantors shall cause all of their Deposit and Securities Accounts, other than the Excepted Accounts, to be subject to Blocked Account Control Agreements and Securities Account Control Agreements, as applicable.

  • The $12,000,000 additional escrow will be remitted back to Seller in the proportion of collected Excepted Accounts to total Excepted Accounts (line 9A, CFTC Form-IFR-FCM) as of the Closing Date.

  • At all times thereafter, the Obligors shall, and shall cause their Domestic Subsidiaries (other than EEX Reserves and its Subsidiaries until such time as the Enron Prepay Obligation has been terminated pursuant to Section 8.09(e)) to, cause all of their Deposit and Securities Accounts, other than the Excepted Accounts, to be subject to Blocked Account Control Agreements and Securities Account Control Agreements.

  • Buyer shall have the right to direct the application of funds from the Excepted Account Escrow to such Excepted Accounts to cover any additional deficit or under-margin amounts in accordance with exchange minimums in effect from time to time or to satisfy any indemnity liability of the Sellers to Buyer in respect of the Excepted Accounts (notwithstanding any other limitation herein with respect to the source of funds for the Sellers’ indemnity obligations).


More Definitions of Excepted Accounts

Excepted Accounts means Deposit Accounts or Securities Accounts of an Obligor or a Guarantor which may be held with any depositary institution or Securities Intermediary, as applicable, and contain total cash, Cash Equivalents or other Property not in excess of $2,000,000.00 in the aggregate for all such accounts for purposes of escrowing monies in the ordinary course of business.
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Excepted Accounts shall have the meaning provided in Section 8.13.
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Related to Excepted Accounts

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • 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.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Restricted Account means an account at Xxxxx Fargo Bank, N.A. associated with the Loan to which Borrower’s access is restricted. Capitalized terms used in these Additional Terms and Conditions to Disbursement Instruction Agreement and not otherwise defined herein shall have the meanings given to such terms in the body of the Agreement.

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Qualified Account means an Account of Borrower generated in the ordinary course of Borrower's business from the sale of goods or rendition of medical services which Lender, in its sole credit judgment, deems to be a Qualified Account. Without limiting the generality of the foregoing, no Account shall be a Qualified Account if: (a) the Account or any portion thereof is payable by an individual beneficiary, recipient or subscriber individually and not directly to Borrower by a Medicaid/Medicare Account Debtor or commercial medical insurance carrier acceptable to Lender in its sole discretion; (b) the Account remains unpaid more than one hundred twenty (120) days past the claim or invoice date; (c) the Account is subject to any defense, set-off, counterclaim, deduction, discount, credit, chargeback, freight claim, allowance, or adjustment of any kind; (d) any part of any goods the sale of which has given rise to the Account has been returned, rejected, lost, or damaged; (e) if the Account arises from the sale of goods by Borrower, such sale was not an absolute sale or on consignment or on approval or on a sale-or-return basis or subject to any other repurchase or return agreement, or such goods have not been shipped to the Account Debtor or its designee; (f) if the Account arises from the performance of services, such services have not been actually been performed or were undertaken in violation of any law; (g) the Account is subject to a lien other than a Permitted Lien; (h) Borrower knows or should have known of the bankruptcy, receivership, reorganization, or insolvency of the Account Debtor; (i) the Account is evidenced by chattel paper or an instrument of any kind, or has been reduced to judgment; (j) the Account is an Account of an Account Debtor having its principal place of business or executive office outside the United States; (k) the Account Debtor is an Affiliate or Subsidiary of Borrower; (l) more than ten percent (10%) of the aggregate balance of all Accounts owing from the Account Debtor obligated on the Account are outstanding more than one hundred fifty (150) days past their invoice date; (m) fifty percent (50%) or more of the aggregate unpaid Accounts from any individual Account Debtor are not deemed Qualified Accounts hereunder; (n) the total unpaid Accounts of the Account Debtor, except for a Medicaid/Medicare Account Debtor, exceed twenty percent (20%) of the net amount of all Qualified Accounts (including Medicaid/Medicare Account Debtors); (o) any covenant, representation or warranty contained in the Loan Documents with respect to such Account has been breached; or (p) the Account fails to meet such other specifications and requirements which may from time to time be established by Lender.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

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

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

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

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

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • L/C Cash Deposit Account means an interest bearing cash deposit 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.

  • Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).