Primary Depository. Subject to the provisions of Section 3.1(d) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates.
Primary Depository. Subject to the provisions of Section 3.1(d) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates. Prior to maintaining any investment accounts with Bank’s affiliates, Borrower, Bank, and any such affiliate shall have entered into a securities account control agreement with respect to any such investment accounts, in form and substance satisfactory to Bank. Notwithstanding the foregoing, (a) Borrower or its German subsidiary may maintain depository and operating accounts in a German bank (the “German Accounts”), provided that the aggregate balance of the German Accounts shall not exceed $25,000 at any time, and (b) Borrower may maintain depository and operating accounts in an Australian bank for the payment of expenses related to clinical trials (the “Australian Accounts”). The aggregate balance of the Australian Accounts shall not exceed $500,000 for more than ten (10) Business Days in each month.
Primary Depository. Subject to the provisions of Section 3.1(k) and 3.2(b), prior to December 31, 2010, Borrower shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates, until such time as any Borrower’s equity is publicly traded in an established securities market, in which case, Borrower may allocate any depository and investment accounts between Bank and other third party accounts.
Examples of Primary Depository in a sentence
The City’s Primary Depository and other depository institutions are required to comply with Government Code Chapter 2257, Collateral for Public Funds.
The Primary Depository shall be selected through the City's banking service procurement process, which is governed by Texas Local Government Code, Chapter 105 – Depositories for Municipal Funds .
As these activities are efficiently handled by the system, company can concentrate on its core business operations and plan for customer satisfaction and value creation.4. Keeps store locations organized –The system automatically indicates the non-selling items.
At least every five years, the Authority shall, following a competitive selection process, designate one of the listed financial institutions to serve as the Authority's Primary Depository Institution.
Except as otherwise expressly provided herein, the Credit Agreement and the other Loan Documents are not amended, waived, modified or affected by this Amendment and all of the terms and conditions of the Credit Agreement and the other Loan Documents are, and remain, in full force and effect in accordance with their respective terms.
More Definitions of Primary Depository
Primary Depository. Subject to the provisions of Section 3.1(d) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates; provided that SendGrid UK Ltd., a Borrower’s UK Subsidiary, may maintain an account in UK for the purpose of funding all existing and future foreign operations, subject to the restriction that the aggregate amount on deposit in such account shall not exceed $100,000 at any time (the “UK Account”).
Primary Depository. Subject to the provisions of Section 3.1(k) and 3.2(b), prior to December 31, 2010, Borrower shall maintain all its operating accounts with Bank and at least 50% of Borrower’s total Cash shall be maintained in accounts with Bank.
Primary Depository. Borrower shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates; provided that SendGrid UK Ltd., a Borrower’s UK Subsidiary, may maintain an account in UK for the purpose of funding all existing and future foreign operations, subject to the restriction that the aggregate amount on deposit in such account shall not exceed $300,000 at any time (the “UK Account”).
Primary Depository. Borrower shall maintain (i} all its depository and operating accounts with Bank and (ii) all its investment accounts with Bank or Bank’s affiliates; provided that prior to maintaining any investment accounts with Bank’s affiliates, Borrower, Bank, and any such affiliate shall have entered into a securities account control agreement with respect to any such investment accounts, in form and substance satisfactory to bank. Notwithstanding the above, Borrower shall be permitted to maintain Cash in one or more accounts outside of Bank, without the requirement for control agreements, provided that the total aggregate amount of Cash maintained in such accounts does not exceed $[***] at any time.
Primary Depository. Subject to the provisions of Section 3.1(l), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates; provided that Borrower shall be permitted to maintain up to $200,000 in Cash at Comerica Bank for a period of up to 60 days.
Primary Depository. Subject to the provisions of Section 3.1(j) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates, excluding (i) an amount not to exceed $100,000 in the aggregate, which shall be permitted to be kept in deposit account(s) at another financial institution in the United States, and (ii) an amount not to exceed $10,000 in the aggregate, which shall be permitted to be kept in deposit account(s) held in the name of Lucid International Ltd., a wholly-owned Subsidiary of Borrower, at a financial institution in the United Kingdom.
Primary Depository. Subject to the provision of Section 3.2(b), Borrower shall maintain (i) all its depository and operating accounts with Bank and (ii) all its investment accounts with Bank or Bank’s affiliates; provided that prior to maintaining any investment accounts with Bank’s affiliates, Borrower, Bank, and any such affiliate shall have entered into a securities account control agreement with respect to any such investment accounts, in form and substance satisfactory to Bank. Notwithstanding the above, Borrower shall be permitted to maintain Cash in one or more accounts outside of Bank, without the requirement for control agreements, provided that the total aggregate amount of Cash maintained in such accounts does not exceed $[***] at any time.