Government Receivables Deposit Account Agreement definition

Government Receivables Deposit Account Agreement shall have the meaning ascribed to it in Section 9.15(a).
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Government Receivables Deposit Account Agreement means an agreement among the relevant depository bank, the Borrower and the Collateral Agent, which provides that all funds held in the Government Receivables Deposit Accounts will be swept on a daily basis into an account of the Borrower which is subject to a Control Agreement, and otherwise be in form and substance reasonably satisfactory to the Collateral Agent (provided that the relevant Borrower may amend, waive, rescind, revoke or terminate the instructions given in the Government Receivables Deposit Account Agreement and otherwise give the depositary thereunder instructions as to the disposition of funds subject thereto, but the Borrower must give the Collateral Agent advance written notice of any such amendment, waiver, rescission, revocation or termination (each, a “Modification”), and with respect to any Modification, such depositary will (a) use commercially reasonable efforts to obtain from the Borrower a certification that the Borrower has given the Collateral Agent advance written notice of such Modification, and (b) use commercially reasonable efforts to independently give the Collateral Agent prompt notification of such Modification).
Sample 1

Examples of Government Receivables Deposit Account Agreement in a sentence

  • Each such Government Receivables Deposit Account Agreement and Private Deposit Account Agreement shall provide, among other things, that the bank at which any such Blocked Account is maintained, agrees to forward on a daily basis all available amounts in each such account to the Concentration Account (provided, that Government Receivables Deposit Account Agreements shall also provide that such direction to make daily transfers to the Concentration Account may be revoked by the applicable Credit Party.

  • Subject to Section 5.19, cause each Government Receivables Deposit Account to be at all times subject to a Government Receivables Deposit Account Agreement.

  • Each such Government Receivables Deposit Account Agreement and Private Deposit Account Agreement shall provide, among other things, that the bank at which any such Blocked Account is maintained, agrees to forward on a daily basis all available amounts in each such account to the Concentration Account (provided, that Government Receivables Deposit Account Agreements shall also provide that such direction to make daily transfers to the Concentration Account may be revoked by the applicable Grantor.

Related to Government Receivables Deposit Account Agreement

  • 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”.

  • 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.

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

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

  • 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.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

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

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

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • 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 Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

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

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Collection Accounts As defined in Section 3.10(a).

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

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

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Yield Supplement Account Deposit means the initial deposit of cash in the amount of $[_________] made by or on behalf of the Seller into the Yield Supplement Account on the Closing Date.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.