Government Blocked Account definition

Government Blocked Account shall have the meaning ascribed to such term in Section 4.3 hereof.
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Government Blocked Account means the deposit account or accounts established pursuant to SECTION 2.7(a) of this Agreement maintained at the Cash Management Bank into which all Collections of Accounts from Governmental Account Debtors shall be deposited; the Governmental Blocked Account shall be an account in the name of a Borrower, and shall be the sole and exclusive property of such Borrower.
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Examples of Government Blocked Account in a sentence

  • The Borrower shall not establish or open any other blocked account (other than the Commercial Blocked Account and the Government Blocked Account) or any lock box accounts after the Closing Date.

  • The Borrower shall not amend, modify or otherwise change any terms of the Commercial Blocked Account Agreement or the Government Blocked Account Agreement, without the Administrative Agent’s prior written consent.

  • The Borrower shall cooperate with the Administrative Agent in the identification and reconciliation on a daily basis of all amounts received in the Commercial Blocked Account and the Government Blocked Account.

  • The Borrower agrees to pay to the Administrative Agent any and all reasonable fees, costs and expenses which the Administrative Agent incurs in connection with opening and maintaining the Commercial Blocked Account, the Government Blocked Account and the Cash Collateral Account for the Borrower and depositing for collection by the Administrative Agent any check or item of payment received and/or delivered to the Administrative Agent on account of the Borrower’s Liabilities.

  • All amounts deposited in the Commercial Blocked Account and the Government Blocked Account will be automatically transferred, on a daily basis, to a demand deposit account (the “Demand Deposit Account”).

  • Other than with respect to Government Blocked Account, Borrower agrees that the Administrative Agent and each Lender has all rights of setoff and banker’s liens provided by applicable law.

  • The Borrower agrees to pay to the Lender any and all reasonable fees, costs and expenses which the Lender incurs in connection with opening and maintaining the Commercial Blocked Account, the Government Blocked Account and the Cash Collateral Account for the Borrower and depositing for collection by the Lender any check or item of payment received and/or delivered to the Lender on account of the Borrower’s Liabilities.

  • The Borrower shall cooperate with the Lender in the identification and reconciliation on a daily basis of all amounts received in the Commercial Blocked Account and the Government Blocked Account.

  • All funds deposited into the Government Blocked Account shall be immediately transferred into a depository account owned by Agent (the "CASH MANAGEMENT ACCOUNT").

  • If the Borrower desires Government Accounts to be considered Eligible Accounts, the Borrower shall take any and all action reasonably required by the Lender in order to provide the Lender with a perfected security interest in such Government Accounts and execute and deliver all documentation reasonably required by the Lender in connection therewith, including, without limitation, a Government Blocked Account Agreement.

Related to Government Blocked Account

  • Government Accounts means Accounts on which any federal or state governmental unit or any intermediary for any federal or state governmental unit is the Account Debtor.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Government agreement has the meaning given in the Government Agreements Xxx 0000 (WA);

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Government of Canada Yield on any date means the yield to maturity on such date (assuming semi-annual compounding) of a Canadian dollar denominated non-callable Government of Canada bond with a term to maturity of five years as quoted as of 10:00 a.m. (Toronto time) on such date and that appears on the Bloomberg Screen GCAN5YR <Index> Page on such date; provided that if such rate does not appear on the Bloomberg Screen GCAN5YR <Index> Page on such date, then the Government of Canada Yield shall mean the arithmetic average of the yields quoted to the Corporation by two registered Canadian investment dealers selected by the Corporation as being the annual yield to maturity on such date, compounded semi-annually, that a non-callable Government of Canada bond would carry if issued, in Canadian dollars, at 100% of its principal amount on such date with a term to maturity of five years.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Government Programs means (i) the Medicare and Medicaid Programs, (ii) the United States Department of Defense Civilian Health Program for Uniformed Services and (iii) other similar foreign or domestic federal, state or local reimbursement or governmental health care programs.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Government Office means any office of the Federal Government that has possession or control of assassination records, including—

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Spread Account Agreement means the Spread Account Agreement dated as of December 1, 1994, as amended and restated as of May 11, 1998 among the Insurer, the Seller and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Account Application or “Application” shall mean the application, as may be amended from time to time, by which this Agreement is established between the Depositor (or following the death of the Depositor, the Beneficiary) and the Custodian. The statements contained therein shall be incorporated into this Agreement.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Government Servant means any person appointed by Government to any civil service or post in connection with the affairs of the Union & includes a civilian in a Defence service;

  • Account Agreement means the agreements for the operation of the Account.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.