Funds In Use Account definition

Funds In Use Account means in relation to the Receivables Purchase Facility, the account maintained by FGI in its books, in the name of each Client, the UK Client, the Spanish Client and any other relevant member of the Group for the purpose of recording payments made by FGI to the Clients, the UK Client, the Spanish Client and any other relevant member of the Group.
Sample 1
Funds In Use Account means the account on the Lender’s books, in the Companies’ name, in which the Companies will be charged with all Obligations under this Financing Agreement. GAAP shall mean generally accepted accounting principles in the United States of America as in effect from time to time and for the period as to which such accounting principles are to apply, provided that in the event the Companies modify their accounting principles and procedures as applied as of the Closing Date, the Companies shall provide to the Lender such statements of reconciliation as shall be in form and substance reasonably acceptable to the Lender. General Intangibles shall mean all of the Companies’ present and hereafter acquired general intangibles (as defined in the UCC), and shall include, without limitation, all present and future right, title and interest in and to: (a) all Trademarks, tradenames, corporate names, business names, logos and any other designs or sources of business identities, (b) Patents, together with any improvements on said Patents, utility models, industrial models, and designs, (c) Copyrights, (d) trade secrets, (e) licenses, permits and franchises, (f) all applications with respect to the foregoing, (g) all right, title and interest in and to any and all extensions and renewals, (h) goodwill with respect to any of the foregoing, (i) any other forms of similar intellectual property, (j) all customer lists, distribution agreements, supply agreements, blueprints, indemnification rights and tax refunds, together with all monies and claims for monies now or hereafter due and payable in connection with any of the foregoing or otherwise, and all cash and non-cash proceeds thereof, including, without limitation, the proceeds or royalties of any licensing agreements between any Company and any licensee of any General Intangibles of any Company. Goods shall mean all present and hereafter acquired goods (as defined in the UCC) and all proceeds thereof. Guaranties shall mean the guaranty documents executed and delivered by the Guarantors guaranteeing the Obligations. Guarantors shall mean (i) Xxxxxxx Chaus International (Hong Kong), Inc., a Delaware corporation, (ii) Xxxxxxx Chaus International (Korea), Inc., a Delaware corporation and (iii) Xxxxxxx Chaus International (Taiwan), Inc., a Delaware corporation. Guide shall have the meaning provided in Section 3.5 hereof. Indebtedness shall mean, without duplication, all liabilities, contingent or otherwise, which are any of the...
Sample 1Sample 2
Funds In Use Account shall have the meaning ascribed to such term in Section 3.
Sample 1

Examples of Funds In Use Account in a sentence

  • Any amount charged to Companies’ Funds In Use Account shall be deemed a Revolving Loan hereunder and shall incur interest at the rate provided in Paragraph 8.1 of Section 8 of this Financing Agreement.

  • All amounts received by the Lender in payment of Accounts will be credited to the Funds In Use Account when the Lender is advised by its bank of its receipt of such payment at the Lender’s bank account in New York, New York on the Business Day of such advise if advised no later than 1:00 p.m. EST or on the next succeeding Business Day if so advised after 1:00 p.m. EST.

  • Each Company agrees that any charges incurred by the Lender for the Companies’ account by the Issuer in respect of Letters of Credit, absent manifest error, shall be conclusive on the Lender and may be charged to the Companies’ Funds In Use Account.

  • The Lender may, in its discretion, charge any or all of the Obligations to the Funds In Use Account when due.

  • The Lender shall be entitled to charge the Companies’ Funds In Use Account at the rate provided for herein when due until all Obligations have been paid in full.

  • The Reports that shall be made available to Borrowing Agent include a Statement of Account reflecting transactions in three sections: an accounts receivable account (the “Accounts Receivable”), a client position account (the “Client Position Account”) and the Funds In Use Account.

  • Interest shall be paid, accrue on each Advance made under this schedule 4 at a rate of 12 per cent (12%) per annum and be debited to the Funds In Use Account in accordance with 13 (Interest) of schedule 1 (Common terms).

  • Availability shall mean, at any time, the amount by which (a) the Borrowing Base at such time exceeds (b) the sum at such time of the outstanding balance of the Funds In Use Account plus the undrawn amount of all outstanding Letters of Credit.

  • During the month or months that Revolving Loans are Chase Bank Rate Loans, interest on the debit balance in the Funds In Use Account shall be due and payable monthly on the first day of each month and shall accrue at a rate per annum equal to the Applicable Margin plus the Chase Bank Rate on the daily debit balance in the Funds In Use Account for that month, as reflected by CIT's System.

  • FGI will also record the amount of the Initial Purchase Price on the Funds In Use Account.


More Definitions of Funds In Use Account

Funds In Use Account shall have the meaning given to such term in the Factoring Agreement.
Sample 1
Funds In Use Account means the “Funds In Use Accounts” referred to in the Factoring Agreements or any one or more of them as the context may require.”
Sample 1

Related to Funds In Use Account

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Expense Account The account established and maintained pursuant to Section 3.25.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Holding Account means an account:

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Direct Account : means any Account which is not an ISA Account.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Excess Liquidation Proceeds Account The segregated account (or the sub-account of the Distribution Account) created and maintained by the Certificate Administrator on behalf of the Trustee pursuant to Section 3.04(d) for the benefit of the Certificateholders, which shall be entitled “Xxxxx Fargo Bank, National Association [or the name of any successor Certificate Administrator], as Certificate Administrator on behalf of Wilmington Trust, National Association [or name of any successor Trustee], as Trustee, for the benefit of the registered holders of WFRBS Commercial Mortgage Trust 2014-C22, Commercial Mortgage Pass-Through Certificates, Series 2014-C22, Excess Liquidation Proceeds Account”.