PSI Designated Account definition
PSI Designated Account means account number 100144646 of PSI maintained with PSI's Designated Account Bank, or such other deposit account of PSI (located within the United States) which has been designated, in writing and from time to time, by PSI to Foothill.
Examples of PSI Designated Account in a sentence
Unless otherwise agreed by Foothill and Borrowers, any Advance requested by Multigraphics and made by Foothill hereunder shall be made to the Multigraphics Designated Account, and any Advance requested by PSI and made by Foothill hereunder shall be made to the PSI Designated Account.
Multigraphics agrees to establish and maintain the Multigraphics Designated Account with the Multigraphics Designated Account Bank and PSI agrees to establish and maintain the PSI Designated Account with the PSI Designated Account Bank, each for the purpose of receiving the proceeds of the Advances requested by such Borrower and made by Foothill hereunder.