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.
Excluded Accounts means all Deposit Accounts specifically and exclusively used as zero balance accounts or used for security deposits, payroll, payroll taxes, deferred compensation and other employee wage and benefit payments to or for the benefit of the Borrower’s or any of its Subsidiaries’ employees, and the accounts listed on Part II of Schedule 7.21.
Examples of Excluded Accounts in a sentence
To the extent the Company and the Guarantors have cash-on-hand (including Cash Equivalents) in accounts (other than Excluded Accounts) located in the United States in excess of $65,000,000 (“Excess Cash Cap”) for ten (10) consecutive Business Days, promptly (and in any event, within one (1) Business Day) repay outstanding Loans in the amount of such excess.
Subject to Section 8.19(a), the Borrower will, and will cause each of the Restricted Subsidiaries to, cause each of their respective Deposit Accounts, Commodity Accounts or Securities Accounts (in each case, other than Excluded Accounts for so long as they are Excluded Accounts) to at all times be subject to an Account Control Agreement.
More Definitions of Excluded Accounts
Excluded Accounts has the meaning set forth in Section 5.14(b).
Excluded Accounts is defined in Section 5.5.
Excluded Accounts is defined in Section 6.6(b).
Excluded Accounts shall have the meaning assigned to such term in Section 5.12(a).
Excluded Accounts means (a) any account used solely by any Loan Party to disburse payroll and benefits, (b) any fiduciary accounts used solely to administer benefit plans or pay withholding taxes and (c) any account used solely to hold funds in trust for third parties.
Excluded Accounts means accounts used in the ordinary course of business for payroll, payroll taxes and other employee wage and benefit payments, pension fund accounts, 401(k) accounts, trust accounts, the certificates of deposit referred to in Section 9.02(p), and the segregated deposit accounts referred to in Section 9.02(q).
Excluded Accounts means any (a) Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s, or any of its Subsidiaries’, employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates and (b) that certain certificate of deposit (or any replacement thereof) held with Comerica Bank and identified to Collateral Agent by Borrower in the Perfection Certificates securing the Comerica Letter of Credit.