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 Accounts means (a) payroll accounts, (b) health savings accounts, worker’s compensation accounts and other employee benefits accounts, (c) payroll withholding tax accounts and other tax (including sales tax) remittance accounts and (d) any other account that is used solely as an escrow account or as a fiduciary or trust account and not otherwise prohibited under this Agreement or any other Loan Document.
Excluded Accounts has the meaning assigned to such term in the Security Agreement.
Examples of Excluded Accounts in a sentence
Xxxxxx’s Lien encumbers all amounts credited to any Deposit Account of a Borrower, including sums in any blocked, lockbox, sweep or collection account; provided, that Borrower shall not be required to enter into control agreements with respect to Excluded Accounts.
More Definitions of Excluded Accounts
Excluded Accounts means (a) Deposit Accounts exclusively used for payroll, payroll Taxes and other employee wage and benefit payments to or for the benefit of the employees of the Obligors, (b) Deposit Accounts with aggregate balances of $250,000 or less at any time and (c) Deposit Accounts that are Segregated Health Care Accounts.
Excluded Accounts has the meaning set forth in Section 5.14(b).
Excluded Accounts is defined in Section 5.5.
Excluded Accounts has the meaning assigned to such term in Section 6.16.
Excluded Accounts means deposit accounts solely for the purposes of payroll, trust, and tax withholding funded in the ordinary course of business, so long as no other amounts are deposited or maintained in such accounts, and any Term Loan Priority Account (as defined in the Intercreditor Agreement).
Excluded Accounts is defined in Section 6.6(b).
Excluded Accounts are deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party or any of their Subsidiaries’, employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates.