Government Receivables Account definition

Government Receivables Account means an account established by a Loan Party and used solely for receipt of Government Receivables.

Government Receivables Account shall have the meaning set forth in Section 5.11(e).

Government Receivables Account means an account maintained by a Loan Party with the Administrative Agent (or any of its Affiliates) and used solely for receipt of Government Receivables.

Examples of Government Receivables Account in a sentence

• Prior to allowing any Government Receivables Account to be established, the Master Tenant shall cause a deposit account instruction services agreement in form and substance acceptable to the Secured Party to be entered into with respect to each Government Receivables Account by and among the Operator, or Master Tenant, if applicable, the Secured Party and the depository bank that maintains such Government Receivables Account (each, a “DAISA”).

• Not less than thirty (30) days prior to the effective date thereof, Operator shall 301 provide to Lender a copy of (1) any change to any DAISA, or (2) any new or changed Account 302 Xxxxxx’s Instructions with respect to one of the Government Receivables Accounts issued to a 303 depository bank maintaining such Government Receivables Account, in each case no later than 304 providing the change or directions to the depository bank.

• Not less than thirty (30) days prior to the effective date thereof, the Master Tenant will provide or will cause to be provided to the Secured Party a copy of (1) any change to any DAISA, or (2) any new directions with respect to a Government Receivables Account issued to a depository bank maintaining such Government Receivables Account, in each case no later than providing the change or directions to the depository bank.

• The DAISA shall instruct the depository bank to initiate a funds transfer each business day, unless the Secured Party approves otherwise, of all available funds in the applicable Government Receivables Account to a non-Government Receivables Account of the Operator or Master Tenant that is then subject to a Control Agreement.

• Unless otherwise expressly approved by Lender and HUD, each DAISA 297 shall provide that the depository bank initiate a funds transfer each business day, of all collected 298 and available funds in the applicable Government Receivables Account to a non-Government 299 Receivables Account of Operator that is then subject to a DACA (“Account Holder’s 300 Instructions”).

More Definitions of Government Receivables Account

Government Receivables Account means any deposit account (within the meaning of the New York Uniform Commercial Code) or other account into which any payment under Government Receivables is directly paid by the Governmental Authority, but, for the avoidance of doubt, shall not include any other deposit account or other account into which such funds are subsequently transferred.

Government Receivables Account has the meaning specified in Section 2.19.

Government Receivables Account means an account established by a Loan Party and subject to an account control agreement in form and substance reasonably acceptable to the Administrative Agent.

Government Receivables Account means any deposit account into which a Governmental Authority directly deposits government health care program receivables or into which a Borrower deposits or directs the deposit of checks received from a Governmental Authority representing government health care receivables.

Government Receivables Account means an account established by a Credit Party and used for receipt of Restricted Receivables, including, without limitation, Government Receivables. “Governmental Authority” means any applicable national, supranational, federal, state, county, provincial, local, municipal or other government or political subdivision thereof (including any applicable Regulatory Agency), whether domestic or foreign, and any agency, authority, commission, ministry, instrumentality, regulatory body, court, tribunal, arbitrator, central bank or other Person exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to any such government (including any supra-national bodies such as the European Union or the European Central Bank).

Government Receivables Account means a deposit account maintained in the name of the Issuer or any Guarantor into which solely the cash proceeds of Medicare or Medicaid account receivables (or account receivables from similar federal insurance programs) are deposited to the extent a Lien on such deposit account (or the funds on deposit therein or credited thereto) is not permitted under applicable law; provided that the Issuer or such Guarantor, as applicable, will deposit or cause to be deposited, promptly, and in any event no later than the first Business Day after the date of receipt thereof, all funds on deposit therein or credited thereto into a deposit account or securities account in which the Lien of the Collateral Agent is perfected under a valid and effective Account Control Agreement (as defined in the Collateral Agreement).

Government Receivables Account a deposit account maintained by a Borrower with the Deposit Account Bank or CIT Bank, N.A. into which all Collections of Accounts on which Government Account Debtors are obligated are paid directly or deposited into.