Pledged Deposit Accounts definition

Pledged Deposit Accounts. Granting Clause

Pledged Deposit Accounts shall have the meaning assigned to such term in Section 9(i).

Pledged Deposit Accounts means the deposit accounts specified in Schedule 2, any other Blocked Accounts and any other deposit account of the Borrower in which any proceeds of any Collateral are on deposit from time to time.

Examples of Pledged Deposit Accounts in a sentence

• Funds deposited in the Pledged Deposit Accounts (including any interest paid on such funds) may be distributed only with the consent of Bank.

• Borrower shall follow the procedures and payment mechanisms relating to the Pledged Deposit Accounts set forth in Section 4.02 of the Loan Agreement.

• Such Pledged Deposit Accounts shall be maintained pursuant to lockbox or other arrangements reasonably acceptable to Collateral Agent.

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

• So long as no Cash Control Trigger Event shall have occurred and be continuing , the Grantors shall have the sole and exclusive right to direct the applicable Pledged Account Bank to pay and release, to the applicable Grantor or at its order or, at the request of such Grantor, to the Administrative Agent to be applied to the Obligations of the Grantors under the Loan Documents, such amount, if any, as is then on deposit in the Collateral Account and the Pledged Deposit Accounts.

More Definitions of Pledged Deposit Accounts

Pledged Deposit Accounts has the meaning set forth in Recital (4) of this Agreement.

Pledged Deposit Accounts means all Deposit Accounts, Securities Accounts and Commodities Accounts of the Credit Parties which are subject to a Lien in favor of the Collateral Agent for the benefit of the Secured Parties pursuant to the Pledge and Security Agreement.

Pledged Deposit Accounts means the deposit accounts specified in Schedule 2 and any other deposit account of the Borrower in which any proceeds of any Collateral are on deposit from time to time other than proceeds of Collateral which is released pursuant to Section 3.7.

Pledged Deposit Accounts has the meaning specified in Section 2(j).

Pledged Deposit Accounts the Primary Account, the Returns Account, the Debit Card Account and such other of the Borrower’s deposit accounts maintained at CIBC on which Liens have been granted in favor of the Administrative Agent for the benefit of the Lenders pursuant to Guarantee and Collateral Agreement.

Pledged Deposit Accounts means all Deposit Accounts (including those Deposit Accounts listed on Schedule 2), provided that “Pledged Deposit Accounts” shall not include the Excluded Accounts.”

Pledged Deposit Accounts has the meaning specified in Section 1.3 of the Security Agreement.