Insured Accounts definition

Insured Accounts means any Account supported by a (i) letter of credit, (ii) bank guarantee or (iii) credit insurance, in each case, reasonably acceptable to the Administrative Agent, and in the case of clauses (i) and (ii), upon the request of the Administrative Agent during a Liquidity Period, the Borrower shall use commercially reasonable efforts to assign such letter of credit or bank guarantee to the Administrative Agent in a manner satisfactory to the Administrative Agent.
Insured Accounts is defined in the recitals to this Agreement.
Insured Accounts means Trade Accounts who meet all of the criteria to be Eligible Accounts except paragraph 5 thereof, which qualify as Eligible Accounts, as the case may be, and whose payment is insured by a receivable insurance provider reasonably acceptable to the Administrative Agent, provided that the benefits of any insurance are specifically charged to and in favour of the Finance Parties free from any other Lien (other than Permitted Liens) and any such charge is duly accepted and acknowledged by such insurance provider. Eligible Inventory, as at the date of determination, all Inventory (other than slow moving, packaging and crating supplies used or consumed in the normal course of business), raw materials, work-in-progress and finished goods of the Credit Parties (valued at the Net Orderly Liquidation Value) that meet the following criteria (provided, that such exclusion criteria may be revised from time to time by the Administrative Agent in its Permitted Discretion): 104822.00280/115572577.6305585250.30 CREDIT AGREEMENT SCHEDULE "B" - PAGE 15 1. as to which any of the representation or warranties contained herein or in any other Operative Document pertaining to such Inventory, raw material, work-in-progress or finished goods is true and correct; 2. are assets of a Credit Party to which it has good and marketable title, are freely assignable and are not subject to any Liens other than Permitted Liens, and over which the Administrative Agent has first priority Liens, other than Permitted Liens that arise by operation of Law; 3. are held on premises owned or operated by a Credit Party and located in Canada or the United States; 4. are not discontinued or excess items or used items held for resale; 5. are of good and merchantable quality, free from any material defects and are not obsolete, unsalable, shopworn, damaged, unfit for further processing or of substandard quality, in the Administrative Agent's credit judgment using its Permitted Discretion; 6. if In-Transit Inventory, such Inventory forming part of the Borrowing Base does not exceed $5,000,000 in appraised value and is (i) fully insured to the satisfaction of the Administrative Agent, (ii) is fully paid or its payment is fully backed by appropriate bills of lading properly and indicates that such Inventory is "FOB" from the supplier's location, (iii) fully covered by marine insurance reasonably acceptable to the Administrative Agent, (iv) the Credit Party retains title of said Inventory while in transit, ...

Examples of Insured Accounts in a sentence

  • All investments, with the exception of Federal Deposit Insurance Corporation (FDIC) Insured Accounts, Local Government Investment Pools, and Money Market Funds shall be held by a third-party custodian designated by the City Treasurer and evidenced by custodial agreements or safekeeping receipts.

  • Neither Alliance nor, to Alliance’s Knowledge, any other party to the Deutsche Bank Agreements is in default under, or in breach or violation of, any Deutsche Bank Agreement, other than such defaults, breaches and violations as would not, individually or in the aggregate, be reasonably expected to have a material adverse effect on the financial condition or operation of the Insured Accounts, the Alliance Funds or the Business.

  • There is no Litigation pending, or to Alliance’s Knowledge (with regard to any duty of inquiry), threatened against Alliance or any of its Affiliated Persons before any Governmental Authority relating to or involving the Insured Accounts (including the assets therein).

  • To Alliance’s Knowledge (with regard to any duty of inquiry), the value of the Insured Accounts has been determined and is being determined using methods that comply in all material respects with Applicable Law.

  • Except for such fees and commissions paid by Alliance, no amount is required to be paid by Alliance, the Investment Companies, the Alliance Funds or the Insured Accounts to any such financial adviser, broker or finder.

  • If Accounts in an aggregate face amount of $1,000,000 or more cease to be Eligible Credit Insured Accounts or Eligible Non-Credit Insured Accounts, Borrowers shall notify Agent of such occurrence promptly (and in any event within one Business Day) after any Borrower has knowledge thereof.

  • Agent may rely, in determining which Accounts are Eligible Accounts, Eligible Credit Insured Accounts or Eligible Non-Credit Insured Accounts, on all statements and representations made by Borrowers with respect thereto.

  • Without limiting the generality of the foregoing, Alliance and Federated shall cooperate with each other preparing required Deutsche Bank Assignment Documents for the Insured Accounts, setting relevant dates and deadlines and resolving objections received in connection with such contemplated assignments.

  • Alliance is duly qualified or licensed to do business and is in good standing in every jurisdiction where its business (including the Business) so requires, except for such failures to be so qualified, licensed or in good standing as would not, individually or in the aggregate, be reasonably expected to have a material adverse effect on the financial condition or operation of the Business, the Alliance Funds or the Insured Accounts.

  • To Alliance’s Knowledge (with regard to any duty of inquiry), there is no Litigation pending or threatened against any other Person before any Governmental Authority that otherwise relates to or involves the Insured Accounts (including the assets therein).

Related to Insured Accounts

  • Insured Amounts means, with respect to any Distribution Date, the Deficiency Amount for such Distribution Date.

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Insured Amount As defined in the Policy.

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

  • Separate Accounts means the accounts which are to be prepared for each

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • 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.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

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

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Management Accounts means, in relation to any Reporting Period, the Franchisee’s management accounts which: (a) comply with paragraph 3.10 of Schedule 13 (Information and Industry Initiatives); and (b) are required to be delivered to the Secretary of State by the Franchisee in accordance with paragraphs 3.2 and 3.3 of Schedule 13 (Information and Industry Initiatives);

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Sub-Accounts means the respective Sub-Accounts of the Escrow Account, into which the monies specified in Clause 4.1 would be credited every month and paid out if due, and if not due in a month then appropriated proportionately in such month and retained in the respective Sub Accounts and paid out therefrom on the Payment Date(s).

  • Accounts means all presently existing and hereafter arising accounts, contract rights, and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by Borrower, whether or not earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower's Books relating to any of the foregoing.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

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

  • Relevant Accounts means, in respect of any Interest Payment Date, the most recently published audited unconsolidated annual financial statements of UBS Group AG prepared in accordance with the Swiss Code.