Player Deposits definition

Player Deposits means the aggregate of the Seller’s cash obligations to the players in respect of the player accounts as of the Closing Date, and referred to on the financial statements of the Seller as “player deposit liability.”

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Player Deposits means, collectively, (i) cash maintained by a Loan Party or Subsidiary and held in one or more segregated accounts for, or on behalf of, such Loan Party’s or Subsidiary’s customers and (ii) digital assets (including, for the avoidance of doubt, non-fungible tokens and cryptocurrency) maintained by a Loan Party or Subsidiary for, or on behalf of, such Loan Party’s or Subsidiary’s customers. “Prime Rate” means the variable rate of interest, per annum, most recently announced by Agent as its “prime rate,” whether or not such announced rate is the lowest rate available from Agent. “Promissory Note” means a promissory note issued by Borrower in favor of a Lender evidencing the obligation of Borrower to repay a Credit Extension, and “Promissory Notes” means all such promissory notes. “Pro Rata Share” means, with respect to any Lender, the percentage of all Commitments represented by such ▇▇▇▇▇▇’s total Commitments; provided that, if a loan facility’s Commitments have terminated or expired, Pro Rata Shares will be determined by the outstanding principal amount of Credit Extensions under that loan facility. “Providing Lender” means, with respect to any Ancillary Services provided in accordance with this Agreement, the Lender providing those Ancillary Services in its capacity as such (provided that such Lender has delivered to Agent a completed and executed Designation Notice with respect to such Ancillary Services). In the case of any Ancillary Services provided by a Person who is no longer a Lender, such Person shall be considered a Providing Lender only through the stated termination date (without extension or renewal after such time as such Person is no longer a Lender) of such Ancillary Services. “PWB Cash Threshold Amount” means the lesser of (a) $200,000,000 and (b) 20% of Total Cash; provided that “PWB Cash Threshold Amount” must include at all times at least $75,000,000 of Loan Parties’ unrestricted cash (excluding, for the avoidance of doubt, any Player Deposits). “Qualified ECP Guarantor” means, in respect of any Regulated Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Regulated Swap Obligation or such other Person who constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another Person to qualify as an “eligible contract partici...

Player Deposits means cash maintained by a Borrower or Subsidiary and held in trust for a Borrower’s or Subsidiary’s customers.

Examples of Player Deposits in a sentence

• Each Borrower shall maintain all its depository and operating accounts with Bank (other than accounts containing Player Deposits) and its primary investment accounts with Bank or Bank’s affiliates.

• Notwithstanding anything to the contrary in the foregoing or herein, (i) Borrowers may maintain accounts outside Bank containing Total Operating Cash with aggregate balances up to but not exceeding 20% of all operating account balances, and (ii) all Player Deposits pertaining to Borrowers’ Gaming business shall be maintained in accounts outside Bank, and in the case of (i) and (ii) above, no control agreements shall be required for such accounts.

• Throughout the term of this Agreement, GP shall collect, process and retain all Player Deposits and shall make all required payouts to Players.