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

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

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.

Examples of Payroll Account in a sentence

Payroll Account The net salaries of all employees of the Board were deposited in the Payroll Account.
One special demand deposit account, designated "Otay Water District, Payroll Account," shall be maintained for the sole purpose of paying wages, salaries and taxes for District employees.
See “Total Disbursements from Payroll Account Current Period” ** It has been determined that prior year tax liabilities have been applied to tax receivable due from the State of Delaware.
It is recommended that the Payroll Account in the name of this Board of Education be kept with Republic Bank and that said bank be and is hereby authorized to make payment from the funds on deposit with it on warrants or drafts signed by the Treasurer of School Monies.
All payroll deductions shall be credited, as promptly as practicable, to a Payroll Account in the name of the Participating Employee.

More Definitions of Payroll Account

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).

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 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. Is defined in Section 7-3(a)(iv).

Payroll Account defined in Section 3.4 (d)(iv).