Payroll Account definition

Payroll Account means an account maintained by the Company with respect to each Participating Employee as contemplated by Section 5.

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Payroll Account has the meaning set forth in Section 5.14(b).

Payroll Account a zero balance deposit account exclusively used for tax withholding, payroll, payroll taxes, employee benefits (including workers’ compensation, unemployed insurance or other forms of governmental insurance or benefits).

Examples of Payroll Account in a sentence

• Any such reimbursement must closely parallel the payment to be made from the General Account or Payroll Account.

• Grantee may pay wages and fringe benefits for staff funded through this grant from its General or Payroll Account, then reimburse its General or Payroll Account for such advance using grant funds.

• Under this method, you authorize your bank to accept a debit request by us from your Payroll Account sufficiently funded to meet your obligations related to the Payroll Services.

• NovaCare shall have the right to draw against the Payroll Account an amount equal to the Payroll Fees and Benefits/Management Fees for the applicable payroll payment date.

• On or before each payroll date, Subscriber shall fund an account with the amount of the Administrative Fees and Benefits/Risk Management Fees (the "Payroll Account") in advance of each payroll payment date.

More Definitions of Payroll Account

Payroll Account means an account maintained by the Company with respect to each Participant as contemplated by Section 7 hereof.

Payroll Account means a separate account maintained by the Borrower or one of its Subsidiaries used solely to fund payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of employees, and the cash on deposit in such account.

Payroll Account means any Deposit Account of a Grantor that is used by such Grantor solely as a payroll account for the employees of such Grantor.

Payroll Account means any Deposit Account of a Pledgor that is used by such Pledgor solely as a payroll account for the employees of such Pledgor; provided that, at no time, shall the aggregate amount contained in any such account exceed the total amount of payroll payable to such employees by such Pledgor within the immediately succeeding 30 days.

Payroll Account means a bank account maintained by the Borrower or any Subsidiary solely for the purpose of paying salary, bonuses and similar items to employees.

Payroll Account means any Deposit Account of a Pledgor that is used by such Pledgor solely as a payroll account for the employees of such Pledgor.

Payroll Account means a payroll account established by the Management Company under the procedures outlined in Section 3.11. Such Payroll Account will maintain only such balance as is needed for current monthly payroll expenses of the Hotel, which will be transferred from the Operating Special Account monthly.