Indemnity Account definition

Indemnity Account means an indemnity account established and maintained by the Borrower to secure the Borrower's obligations to be incurred with County Bank of Rehoboth Beach, Delaware in connection with Pay-Day Advance Loans, such obligations to be established and governed by the Pay-Day Advance Loan Documents.
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Indemnity Account means a Xxxxx'a compliant or non-interest bearing account held in the name of the Company:
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Indemnity Account means that certain account in the Control of the Master Trustee into which certain funds equal to $200,000 have been deposited, pursuant to the Cash Collateral Order, as security for any reimbursement, indemnification or similar continuing obligations of the Obligated Group Debtors in favor of the Master Trustee, the Bond Trustees and the Prepetition Secured Creditors.
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Examples of Indemnity Account in a sentence

  • Purchaser shall deposit an additional 10% of the total number of Purchaser Shares to which each Seller is entitled under the Plan of Recapitalization in escrow in the Indemnity Account as defined in Section 9(A)(iii) of the Plan of Recapitalization.

  • The Working Capital Indemnity Account shall be released and the funds applied in accordance with paragraph 19 of this Final Order upon the receipt by the Working Capital Agent of releases acceptable to the Working Capital Agent in its sole discretion.

  • The Indemnity Account shall be subject to an Account Control Agreement (in the form of Exhibit I attached hereto) between Purchaser, FC and the Investment Intermediary which shall restrict the utilization of the funds in the Indemnity Account to payment of Seller's indemnification obligations under Section 7.2 for a period of eighteen (18) months from the Closing Date.

  • Any income from the investment of monies on deposit in the Indemnity Account shall be transferred to the Revenue Account in accordance with Section 3.13 hereof.

  • On the Effective Date, any and all funds in the Indemnity Account and the Segregated Proceeds Account shall be released to the Master Trustee for the benefit of the Holders of the Bonds, and used, in accordance with the True-Up Agreement, for debt service reduction, including pursuant to the Alternative Cash Payment Option.

  • The Term B Indemnity Account shall be released to the Debtors and the funds applied in accordance with paragraph 19 hereof upon the receipt by the Term B Agent of releases acceptable to the Term B Agent in its sole discretion.

  • The Working Capital Escrow Deposit shall be deposited into the Working Capital Account under the Escrow Agreement to secure the payment of any shortfall in the Closing Date Net Working Capital, and the Indemnity Escrow Deposit shall be deposited into the Indemnity Account under the Escrow Agreement to secure the payment of the Seller’s indemnity obligations pursuant to Article VIII.

  • On the Closing Date, Purchaser shall deliver to the Indemnity Account (as defined in Section 10.3(c)) $1,000,000 (the "Indemnification Amount"), plus if the Closing occurs after June 19, 1998, an "Indemnification Amount Interest Adjustment" computed in the same manner as provided for the Base Cash Price Interest Adjustment.

  • IWRA hereby acknowledges and agrees that the Indemnity Account shall not be HBR's sole remedy for claims brought by HBR against IWRA and that HBR shall be entitled to pursue any remedy available to it, whether at law or in equity.

  • Employees who approve travel and related expenses are responsible for the propriety and reasonableness of expenditures, for ensuring that expenses are submitted promptly, and that receipts and explanations properly support reported expenses.


More Definitions of Indemnity Account

Indemnity Account means the separate bank account established by the Stockholder Representative that will be used by the Stockholder Representative solely to fund any obligation under Section 2.6(f).
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Indemnity Account shall have the meaning set forth in Section 2.2 of the Depositary Agreement.
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Indemnity Account means the Indemnity Account established pursuant to Section 5.4(b)(ix) of the Senior Credit Agreement.
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Related to Indemnity Account

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

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

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Property Account has the meaning set forth in Section 2.8(c).

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

  • 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.

  • Facility Account means the account numbered 0000000 maintained by Seller in the name of “PDC Funding Company, LLC” at JPMorgan, together with any successor account or sub-account.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Indemnification Escrow Fund has the meaning set forth in Section 2.12(a).

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • General Account consists of all our assets other than those held in any separate investment accounts.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Security Account “Software”, and “Supporting Obligations”.

  • 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.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

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

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

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

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Company-Sponsored Equity Account means an account that is created with the Equity Account Administrator in connection with the administration of the Company’s equity plans and programs, including the Plan.

  • 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”.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Checking Account means a Demand Deposit account (DDA), a Negotiable Order of Withdrawal (NOW) account, a Savings account and a Money Market account at the Bank that you open through the Bank website; "Account" includes any Checking, Certificate of Deposit, or Savings account at the Bank opened through the Website or in person; "Card" means an automated teller machine card and/or a VISA debit card that accesses your Checking, Savings, Money Market, or NOW account; "PIN" means the personal identification number you use in connection with your Card; "Password" means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; "Access Device" means your Card, Password, or other device or code we make available to you to access your Accounts; "Business Day" means Monday through Friday, except federal holidays; and "Authorized User" means any person you authorize or permit to use your Card, Password or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or to conduct a transaction. This EFT Agreement is part of the Banking Documents. Other terms used in this EFT agreement may be defined elsewhere in the Banking Documents. • ATM Safety • Funds Transfers • Other Electronic Fund Transfer Services • Liability For Unauthorized Electronic Transfers • Other Electronic Fund Transfer Services Types of Transactions‌ We offer the following types of Electronic Fund Transfers (EFT) Services for your Checking Account. • Direct Deposits. You can arrange for direct deposits to your checking and savings account(s). • Preauthorized Credits/Debits. We accept, on your behalf preauthorized Credits/Debits drawn on your Deposit Accounts which allow unrestricted activity. Through our electronic bill payment service, you are able to electronically transfer funds from your Deposit Account to other parties, provided the account allows such activity. We may conduct these transactions via Automated Clearinghouse (ACH) transfer. We may also accept and direct funds by wire transfer. Each of these services has unique fees associated with the transaction. Please consult our Schedule of Fees herein. When you provide the party initiating the withdrawal or deposit with advance authorization to make recurring ACH transfers to or from your Account, the transfers are referred to as "preauthorized transfers." Because these preauthorized transfers are performed electronically through the ACH, they are governed by federal regulations pertaining to EFT Services, which entitle you to certain benefits and protections in connection with the EFT Services, such as the right to receive a copy of your written authorization to make preauthorized transfers from your Account from the party that obtains it. • ATM and Point-of-Sale Transactions. ATM Transactions. ATM Cards issued by us to you remain our property and you may be requested to return the Card to us at any time for any reason. Each card is used in conjunction with an authorizing Personal Identification Number ("PIN"). To guard against someone initiating a transaction that you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. You may use your Card at ATMs which are a part of an Electronic Funds Transfer service network to which the Bank belongs ("EFT network"). ATM withdrawals are available up to the daily authorization limits disclosed below, provided the available balance in the Deposit Account associated with your card is greater than or equal to the amount requested, plus any fees that may be charged along with the cash disbursement. • Withdraw cash from your Checking Account. • Find out your Checking Account balances. • Transfer funds between your own accounts at the Bank (if available on the ATM in use). • Withdraw cash from your Savings Account. • Make deposits to your own accounts.