Material Accounts means (a) all deposit, securities and commodities accounts in the name of the Borrower at the financial institution with which the Borrower maintains its primary banking relationship and (b) all other deposit, securities and commodities accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) to the extent the average daily or interdaily balance or market value of such accounts for the most recently completed six calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate; provided that, (x) Material Accounts will not include any deposit account specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and (y) the individual and aggregate thresholds described in clause (b) shall be calculated without including (i) the balance or market value of any deposit account that is specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and (ii) the balance or market value of any deposit account pledged to the United States of America, acting through the Administrator of the Rural Utilities Service, to the extent the balances or market values for all such pledged accounts do not exceed in the aggregate $2,500,000 and for so long as such pledge is required pursuant to the terms and conditions of any grant awarded to any Acquisition Target under the Broadband Initiatives Program on or before the Execution Date.
Material Accounts means (a) all deposit, securities and commodities accounts in the name of the Borrower at the financial institution with which the Borrower maintains its primary banking relationship and (b) all other deposit, securities and commodities accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) to the extent the average daily or interdaily balance or market value of such accounts for the most recently completed six (6) calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate; provided, that (x) Material Accounts will not include any deposit account specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and, (y) the individual and aggregate thresholds described in clause (b) shall be calculated without including (i) the balance or market value of any deposit account that is specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and (ii) the balance or market value of any deposit account pledged to the United States of America, acting through the Administrator of the Rural Utilities Service, to the extent the balances or market values for all such pledged accounts do not exceed in the aggregate $2,500,000 and for so long as such pledge is required pursuant to the terms and conditions of any grant awarded to any Loan Party under the Broadband Initiatives Program prior to the Closing Date and (z) “zero balance” accounts or other accounts the balance of which automatically sweep into another account on a daily basis.
Material Accounts means (a) all Deposit Accounts other than accounts used exclusively for payroll, payroll taxes, employee benefits or disbursements and (b) all securities accounts, investment accounts and other accounts other than such accounts that, on an aggregate basis, at no time shall contain cash, securities or other property of more than $200,000 calculated on an average daily basis for any fiscal month.
Examples of Material Accounts in a sentence
Out of the balance 10% amounts, 5% payments will be released after completion of all the works & submission of Material Accounts.
Each Loan Party represents, warrants and covenants that except for the Material Accounts listed on Item 6.24 of the Disclosure Schedules (as updated from time to time pursuant to the terms hereof), there are no other InvestLine Accounts or deposit, securities or commodities accounts into which revenues from the ownership and operation of the Collateral or otherwise are deposited, credited to or held by any Loan Party or Shell Subsidiary.
The Administrative Agent may rely, in determining which Accounts are Eligible Accounts and Eligible Time and Material Accounts, on all statements and representations made by the Loan Parties with respect thereto.
A duly completed, executed account control agreement with respect to all Material Accounts signed by an Authorized Officer of the Borrower and the appropriate depository institutions or other entities holding such Material Accounts.
Each of the Material Accounts of the Loan Parties is a Pledged Account.
More Definitions of Material Accounts
Material Accounts means (a) the Loan Parties’ principal concentration accounts, master accounts, and primary operating accounts, and (b) all deposit, securities or other investment accounts in the name of any Loan Party to the extent the average daily balance of any such account (or market value of items held in such account), individually, for the most recently completed six calendar months exceeds $100,000.
Material Accounts means, as at any date of determination (determined in accordance with GAAP), one or more Accounts whose value, individually or collectively, exceeds 5.0% of all net domestic accounts receivable of the Grantors (after intercompany eliminations and excluding Real Property Lease Accounts) as of the end of the most recently completed fiscal quarter of Equinix.
Material Accounts means all deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries to the extent the average daily balance of any such account (or market value of items held in such account), individually, for the most recently completed six calendar months exceeds $1,000,000.
Material Accounts means (A) all deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) at Branch Banking and Trust Company (or such other financial institution with which Borrower maintains its primary banking relationship) and (B) all other deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries), in each case, to the extent the average daily or interdaily balance of such accounts for the most recently completed six calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate. 3
Material Accounts means (a) all deposit, securities and commodities accounts in the name of the Borrower at the financial institution with which the Borrower maintains its primary banking relationship and (b) all other deposit, securities and commodities accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) to the extent the average daily or interdaily balance or market value of such accounts for the most recently completed six (6) calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate; provided, that (x) Material Accounts will not include any deposit account specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and (y) the individual and aggregate thresholds described in c lause (b) shall be calculated without including (i) the balance or market value of any deposit account that is specially and exclusively used for payroll, payroll taxes or other employee wages or benefit payments to or for the benefit of any salaried employee of any Loan Party or any Subsidiary of any Loan Party and (ii) the balance or market value of any deposit account pledged to the United States of America, acting through the Administrator of the Rural Utilities Service, to the extent the balances or market values for all such pledged accounts do not exceed in the aggregate
Material Accounts means (A) all deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) at Branch Banking and Trust Company (or such other financial institution with which Borrower maintains its primary banking relationship) and (B) all other deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries), in each case, to the extent the average daily or interdaily balance of such accounts for the most recently completed six calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate. First Amendment Agreement/Shenandoah Telecommunications Company
Material Accounts means (A) all deposit, securities or other investment accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) at Branch Banking and Trust Company (or such other financial institution with which Borrower maintains its primary banking relationship) and (B) all other deposit accounts in the name of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries) to the extent the average daily or interdaily balance of such accounts for the most recently completed six calendar months exceeds $1,000,000 individually or $2,500,000 in the aggregate.