Excluded Accounts definition
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 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.
Examples of Excluded Accounts in a sentence
Each Credit Party shall, along with the Collateral Agent and each of those banks or other Persons in which any other Deposit Accounts (other than Excluded Accounts) and Securities Accounts (other than Excluded Accounts) are maintained, enter into on or prior to the 90th day following the Effective Date (as such date may be extended from time to time by the Administrative Agent in its sole discretion) and thereafter maintain separate Cash Management Control Agreements.
More Definitions of Excluded Accounts
Excluded Accounts has the meaning assigned to such term in the Security Agreement.
Excluded Accounts has the meaning set forth in Section 5.14(b).
Excluded Accounts is defined in Section 5.5.
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 shall have the meaning assigned to such term in Section 5.12(a).
Excluded Accounts is defined in Section 6.6(b).
Excluded Accounts means deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the Borrower’s employees and identified to the Administrative Agent and the Lenders by the Borrower as such; provided, that, at no time shall any such deposit account contain deposits in excess of the amount necessary to fund one (1) full payroll cycle of the Borrower.