Excluded Securities Accounts definition

Excluded Securities Accounts means (i) Securities Accounts with Investment Property or other property held in or credited to such Securities Accounts with an aggregate value of less than $10,000,000 at any time in the aggregate for all such Securities Accounts and (ii) Securities Accounts with property held in or credited to such Securities Accounts consisting solely of the Equity Interests of Aluminum Company of Malaysia Berhard (Malaysia).

Excluded Securities Accounts means any securities account the securities entitlements in which consist solely of (a) securities entitlements held by the Borrower or any Subsidiary in trust for any director, officer or employee of the Borrower or any Subsidiary or any employee benefit plan maintained by the Borrower or any Subsidiary, (b) Excluded Assets or (c) securities entitlements representing deferred compensation for the directors and employees of the Borrower and the Subsidiaries

Excluded Securities Accounts means securities accounts maintained by any Obligor which do not hold any property other than Equity Securities or Equity Securities Equivalents (and cash and other property on deposit in such securities accounts from the proceeds of disposition from, or the payment of dividends or other distributions on or in respect of, such Equity Securities or Equity Securities Equivalents held in such accounts); provided the holding of such Equity Securities or Equity Securities Equivalents is otherwise permitted under this Agreement (including that, for certainty, such securities are Permitted Investments).

Examples of Excluded Securities Accounts in a sentence

• The Collateral Agent has a First Priority security interest in each such Securities Account and Commodity Account (other than Excluded Securities Accounts and Excluded Commodities Accounts), which security interest is perfected by Control.

• Set forth on Schedule 8 is a complete and correct list of all securities accounts maintained by each Loan Party, other than Excluded Securities Accounts, specifying the name and address of the financial institution holding the securities account (including a securities intermediary or commodities intermediary), the type of account and the account number.

• Except for any Excluded Securities Accounts and except for accounts maintained with any financial institution or other Person to hold Excluded Deposits/Amounts, the Obligors maintain all of their deposit accounts and securities accounts with the Agent and one or more Lenders in Canada.

• No deposit account or securities account of any Obligor is subject to any Control Agreement (except such agreements as may exist with the Collateral Agent, the Agent or any Lender or which may exist in respect of Excluded Securities Accounts or in respect of accounts which hold Excluded Deposits/Amounts).

• The provisions of this paragraph shall not apply to Financial Assets or other Investment Property (i) credited to (A) securities accounts for which the Administrative Agent is the securities intermediary, unless otherwise requested by the Administrative Agent or (B) the Excluded Securities Accounts or (ii) unless issued by a Grantor, having a fair market value or face amount, as applicable, of less than $2,000,000.

More Definitions of Excluded Securities Accounts

Excluded Securities Accounts shall have the meaning provided in the Guaranty and Collateral Agreement.

Excluded Securities Accounts means the following securities accounts: (a) accounts exclusively used to hold Trust Funds, (b) accounts holding solely cash collateral for a third party that constitutes a Lien permitted under Section 6.02 hereof that do not exceed an average daily balance of $5,000,000 for all such accounts in the aggregate at any one time and (c) accounts, amounts on deposit in which do not exceed an average daily balance of $500,000 per such account or $1,000,000 for all such accounts in the aggregate at any one time.

Excluded Securities Accounts means Securities Account so long as the following conditions are satisfied: (i) all deposits into and balances maintained in such Securities Accounts shall be in the ordinary course of business and (ii) the aggregate balances in all such Securities Accounts does not exceed (A) $5,000,000 at any time during a Dominion Trigger Period and (B) at any time other than during the existence of a Dominion Trigger Period, $500,000,000.

Excluded Securities Accounts shall have the meaning set forth in Section 4.2(a).

Excluded Securities Accounts means, collectively, Securities Accounts of Grantors with Property therein with an aggregate value that, when aggregated with Property in all other Securities Accounts for which a Control Agreement has not been obtained, do not exceed $200,000 at any time.

Excluded Securities Accounts means (a) any Securities Account the balance of which is transferred at the end of each day to a Deposit Account or a Securities Account that is subject to the Control of the Administrative Agent, (b) Securities Accounts used exclusively as escrow and trust accounts, (c) Securities Accounts used exclusively for payroll, payroll taxes and other employee wage and benefit payments for the benefit of any Grantor’s salaried employees (including former employees), and (d) any Securities Accounts in which the stated value of property held therein, together with the stated value of all other Securities Accounts excluded pursuant to this clause (d), at no time exceeds $1,000,000 for any period of more than one Business Day.

Excluded Securities Accounts means, collectively, (i) payroll and payroll taxes accounts and fiduciary, workers’ compensation accounts and other employee wage and benefit payment accounts, escrow and trust accounts, in each case, the proceeds of which are used solely to fund such purposes and (ii) any other securities accounts, so long as the aggregate amount on deposit in all such securities accounts does not exceed $250,000 in the aggregate at any time.