Pledged Deposit Account definition

Pledged Deposit Account means each deposit account as to which a U.S. Grantor has complied with the requirements of Section 6.01(15)(c) of this Agreement.

Pledged Deposit Account shall have the meaning as defined in Section 5.4.

Pledged Deposit Account has the meaning assigned to such term in the preamble hereto.

Examples of Pledged Deposit Account in a sentence

• Borrower shall have the ability to direct monies out of the Pledged Deposit Account into the Secondary Account at any time and further direct money from the Secondary Account at any time, provided, however, during the continuance of any Event of Default, funds deposited in the Pledged Deposit Account may be distributed only with the consent of Bank.

• If a scheduled payment under the Promissory Note is not made in a timely manner, Bank is authorized by Borrower to debit the amount of any such payments from the Pledged Deposit Account.

• None of the amounts set forth in Section 3.4 shall be deposited into any deposit account or securities account other than the Pledged Deposit Account prior to being deposited into any Secondary Account, the ESS Distribution Account or any other deposit or securities account.

• Borrower shall establish and maintain with Bank the Pledged Deposit Account in the form of a time deposit or demand account.

• Following the occurrence of an Event of Default under the Loan Documents, Borrower will not deposit into any Covered Account (as defined in the Freddie Mac Acknowledgment Agreement), including the Pledged Deposit Account, the Minimum Servicing Compensation, and Borrower’s failure to deposit the Minimum Servicing Compensation into any such Covered Account shall not give rise to a default or Event of Default under the Loan Documents.

More Definitions of Pledged Deposit Account

Pledged Deposit Account means any Deposit Account into which Proceeds of Eligible Accounts are required to be paid as provided in any Collateral Document.

Pledged Deposit Account means an interest bearing deposit account that (a) is maintained by the Borrower with an institution located in the United States of America that is acceptable to the DIP Agent, (b) is fully insured by the Federal Deposit Insurance Corporation without limit as to the amount of such insurance, and (c) is subject to the terms of a deposit account control agreement satisfactory in form and substance to the DIP Agent among the Borrower, the DIP Agent and such institution.

Pledged Deposit Account means that certain deposit account number 3009097279 maintained with PNC Bank, National Association in the name of the Seller which shall at all times be subject to the control of and a first priority perfected security interest in favor of the Administrative Agent.

Pledged Deposit Account means an account required by the award agreement into which all RUS funds are advanced.

Pledged Deposit Account means an interest bearing USD current account opened by Oakland with the Lender and includes any sub-accounts thereof and any other account designated in writing by the Lender to be the Pledged Deposit Account for the purposes of this Agreement;

Pledged Deposit Account has the meaning specified in the Pledge Agreement.

Pledged Deposit Account means each of the deposit accounts identified in Schedule 5.13.