Obligor Accounts definition

Obligor Accounts means the Operating Accounts, the Insurance Proceeds Accounts, any Disposal Proceeds Account, any Borrower Hedge Collateral Accounts, any Debt Collateralisation Account and "Obligor Account" means any of them.
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Obligor Accounts has the meaning assigned to such term in Section 10.14 hereof.
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Obligor Accounts means all deposit accounts, securities accounts, and commodity accounts now owned or hereafter acquired by each Obligor, including, without limitation, all of those listed on Schedule 4.
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Examples of Obligor Accounts in a sentence

  • Prior to the receipt by a Bank of a written notice of an Event of Default from the Agent, the Obligors are entitled to make withdrawals from the Obligor Accounts and make deposits into all the Obligor Accounts.

  • Unless a Bank has entered into a control agreement with the Agent with respect to the Obligor Accounts (in which event such control agreement shall take precedent over the provisions of this Section 10.14 with respect to the Obligor Accounts covered thereby), each Bank agrees to hold its Obligor Accounts as bailee for the Agent to perfect the Agent’s Liens therein.

  • Prior to the receipt by a Bank of a written notice of an Event of Default (or that the Required Banks has demanded payment of and Cash Collateral (if applicable) for any Loan Obligations) from the Agent, the Obligors are entitled to make withdrawals from the Obligor Accounts and make deposits into all the Obligor Accounts.

  • Unless a Bank has entered into a control agreement with the Agent with respect to the Obligor Accounts (in which event such control agreement has take precedent over the provisions of this Section 10.14 with respect to the Obligor Accounts covered thereby), each Bank agrees to hold its Obligor Accounts as bailee for the Agent to perfect the Agent's Liens therein.

  • Within 5 Business Days of the Effective Date, Borrower will provide Agent with a listing of all Accounts of Permitted Obligors that are not Permitted Obligor Accounts and that were uncollected on the Effective Date.

  • In furtherance of the forgoing, each Bank acknowledges that certain of the Obligors may maintain deposit accounts at one or more of the Banks (all such accounts, herein the "Obligor Accounts").

  • For all purposes of subsection (B) and (C) above, the term “Accounts” as used therein shall exclude Permitted Obligor Accounts, and the Collection Agent shall have no duties, responsibilities, liabilities, or obligations to Borrower, the Agent, or any Lender in respect of Permitted Obligor Accounts.

  • In addition, until the RPA Termination Date (as defined in the Intercreditor Agreement), the term “Third Party Proceeds” shall exclude payments of Permitted Obligor Accounts, and Agent’s obligations in respect of payments on Permitted Obligor Accounts shall be governed by the terms of the Intercreditor Agreement.

  • All Accounts purchased by Borrower that are not Permitted Obligor Accounts will continue to be subject to all terms and conditions of the Loan Agreement, including Section 10.2, as amended hereby.


More Definitions of Obligor Accounts

Obligor Accounts means loan accounts originated by the Seller and which are identified on the Seller’s computer file as associated with Obligors, and “Obligor Account” means any of them.
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Related to Obligor Accounts

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

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

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

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

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • 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.

  • Locked Box Accounts means the unaudited, aggregated balance sheet of the Group as at the Locked Box Date, in the agreed form;

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Accounts means all presently existing and hereafter arising accounts, contract rights, payment intangibles 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 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.

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

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

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

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • 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).

  • Eligible Accounts Receivable means Accounts, Instruments, Documents, Chattel Paper, Contracts, and General Intangibles from customers of Borrowers or any Approved Subsidiary in which Bank has a perfected first priority security interest subject to Bank's credit approvals thereof other than the following: (i) Accounts which remain unpaid ninety (90) days after the date of the applicable invoice; (ii) Accounts with respect to which the Account Debtor is an Affiliate of any of the Borrowers, or a director, officer or employee of any of the Borrowers; (iii) Accounts with respect to which the Account Debtor is the United States of America or any department, agency or instrumentality thereof, unless filings in accordance with the Assignment of Claims Act have been completed and filed in a manner satisfactory to the Agent or, as to any government contract entered into after the date of this Agreement, concurrently with the execution and delivery of that government contract; (iv) Accounts with respect to which the Account Debtor is not a resident of the United States or Canada except if such Accounts (1) are secured by irrevocable trade letter(s) of credit in form and content acceptable to Bank and confirmed by a United States financial institution acceptable to Bank, (2) are secured by standby letters of credit with an expiration of date of at least one hundred twenty (120) days from the date of shipment confirmed by United States Bank acceptable to Bank and otherwise in form and content acceptable to Bank, or (3) are insured by a company acceptable to Bank, which insurance covers business and political risk; (v) Accounts arising with respect to goods which have not been shipped and delivered to and accepted as satisfactory by the Account Debtor or arising with respect to services which have not been fully performed and accepted as satisfactory by the Account Debtor; (vi) Accounts for which the prospect of payment in full or performance in a timely manner by the Account Debtor is or is likely to become impaired as determined by the Bank in its reasonable discretion; (vii) Accounts which are not invoiced (and dated as of the date of such invoice) and sent to the Account Debtor within fifteen (15) days after delivery of the underlying goods to, or performance of the underlying services for, the Account Debtor; (viii) Accounts with respect to which Bank does not have a first and valid fully perfected security interest; (ix) Accounts with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment for the benefit of creditors or whose assets have been conveyed to a receiver or trustee, except if Bank is delivered evidence acceptable to Bank as to the collectability in the normal course of business of such Accounts; (x) Accounts with respect to which the Account Debtor's obligation to pay the Account is conditional upon the Account Debtor's approval or is otherwise subject to any repurchase obligation or return right, as with sales made on a xxxx-and-hold, guaranteed sale, sale-and-return, sale on approval (except with respect to Accounts in connection with which Account Debtors are entitled to return Inventory solely on the basis on the quality of such Inventory) or consignment basis; (xi) Accounts with respect to which the Account Debtor is located in Minnesota unless the applicable Borrower has filed a Notice of Business Activities Report with the Secretary of State of Minnesota for the then current year; (xiv) all Accounts of any Account Debtor if twenty-five percent (25.0%) or more of all Accounts of such Account Debtor have ceased to be Eligible Accounts Receivable; and (xii) Accounts with respect to which the Account Debtors are residents of Canada to the extent the aggregate sum exceeds $750,000.00. The approvals of Account Debtors and Accounts shall be for Bank purposes only and shall not constitute any representation by Bank as to the credit worthiness of any such Account Debtor or the advisability or profitability of doing business with such Account Debtor.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Eligible Accounts are Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time and from time to time after the Effective Date, to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank agrees otherwise in writing, Eligible Accounts shall not include:

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.