Excluded DDA definition

Excluded DDA means (i) any deposit account exclusively used for payroll or employee benefits, and (ii) any deposit account which is a trust or fiduciary account.

Excluded DDA means (i) a DDA which solely contains funds not constituting proceeds of the ABL Priority Collateral (it being understood that if such DDA contains any proceeds of ABL Priority Collateral, it shall not constitute an Excluded DDA), (ii) a Trust Funds DDA, and (iii) a Disbursement Account.

Excluded DDA means (a) zero balance disbursement accounts and (b) segregated Deposit Accounts, the balance of which consists exclusively of (i) funds due and owing in the ordinary course of business to unaffiliated third parties in connection with Company’s and its Subsidiaries’ royalty payment obligations to such third parties, (ii) payroll, healthcare and other employee wage and benefit accounts, (iii) tax accounts, including, without limitation, sales tax accounts and (iv) escrow, defeasance and redemption accounts.

Examples of Excluded DDA in a sentence

• Open new DDAs (other than an Excluded DDA), Blocked Accounts or Master Concentration Accounts unless, upon the request of Administrative Agent, the Loan Parties shall have delivered to the Administrative Agent appropriate DDA Notifications or Blocked Account Agreements consistent with the provisions of Section 6.13 and otherwise reasonably satisfactory to the Administrative Agent.

• Open any new DDA (other than any Excluded DDA) unless the Loan Parties shall have delivered to the Collateral Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.18 and otherwise satisfactory to the Collateral Agent within 90 days (or such longer period as the Collateral Agent may agree in writing) of opening such new DDA.

• Open any new DDA (other than any Excluded DDA) unless the Loan Parties shall have delivered to the Collateral Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.18 and otherwise satisfactory to the Collateral Agent within ninety (90) days (or such longer period, not to exceed an additional thirty (30) days, as the Collateral Agent may agree in writing) of opening such new DDA.

More Definitions of Excluded DDA

Excluded DDA means any deposit account exclusively used for payroll or employee benefits or which is a trust or fiduciary account.

Excluded DDA a deposit account other than a Collection DDA which satisfies one of the following: (a) any exclusive payroll, other employee benefits, trust, fiduciary, customs, insurance deposits or tax withholding accounts funded in the ordinary course of business or required by applicable law, (b) any escrow, defeasance and redemption accounts, (c) any local xxxxx cash accounts of the Loan Parties funded in the ordinary course of business the balance of which do not aggregate more than $250,000 at any time outstanding and (d) deposit accounts and securities accounts exclusively maintained for the purpose of holding, and actually holding, only identifiable cash proceeds from Term Priority Collateral as identified by the Company to the Administrative Agent from time to time.

Excluded DDA means (a) all DDAs maintained by any Credit Party in the ordinary course of business and actually used solely (i) for payroll and payroll taxes and other trust funds, (ii) for sales taxes or other taxes, (iii) to fund a reserve account pursuant to a processing agreement entered into in the ordinary course of business with a credit card or debit card processor or check processor, or (iv) after the occurrence and during the continuation of a Cash Dominion Event, to fund chargebacks, fees, fines, penalties and other charges due and owing to credit card or debit card processors or check processors arising in the ordinary course of business with respect to the processing of credit card or debit card charges or checks, and (b) any DDA of the UK Borrower and the other UK Credit Parties until such time as the UK Borrower and the other UK Credit Parties have granted a Lien on, and security interest in, their assets to secure the UK Liabilities and the Canadian Liabilities as set forth in Section 2.30 hereof.

Excluded DDA means (a) zero balance disbursement accounts, (b) to the extent used exclusively to hold funds in trust for the benefit of third parties, (i) payroll, healthcare and other employee wage and benefit accounts, (ii) tax accounts, including, without limitation, sales tax accounts, (iii) escrow, defeasance and redemption accounts and (iv) fiduciary or trust accounts, (c) local cash accounts which are not a part of the cash management system described in Section 6.18 and which, in the case of this clause (c), do not any time contain funds in excess of $500,000 individually or $4,000,000 in the aggregate together with all other such local cash accounts, and (d) the Term Priority Collateral Accounts.

Excluded DDA means all DDAs maintained by any Credit Party in the ordinary course of business and actually used solely (i) for payroll and payroll taxes and other trust funds, (ii) for sales taxes or other taxes, (iii) to fund a reserve account pursuant to a processing agreement entered into in the ordinary course of business with a credit card or debit card processor or check processor, or (iv) after the occurrence and during the continuation of a Cash Dominion Event, to fund chargebacks, fees, fines, penalties and other charges due and owing to credit card or debit card processors or check processors arising in the ordinary course of business with respect to the processing of credit card or debit card charges or checks.

Excluded DDA has the meaning provided in SECTION 2.1(b).

Excluded DDA means (a) all DDAs maintained by any Credit Party in the ordinary course of business and actually used solely