Reimbursement Deposit Account definition

Reimbursement Deposit Account means the demand deposit account established by Borrower with U.S. Bank as defined in Section 3.2 hereof.
Sample 1Sample 2Sample 3
Reimbursement Deposit Account has the meaning set forth in Section 4(b) hereof.
Sample 1
Reimbursement Deposit Account shall have the meaning set forth in Section 8.1 hereof.
Sample 1

Examples of Reimbursement Deposit Account in a sentence

  • Agent shall, and Borrower hereby authorizes Agent to, debit any deposit account of Borrower with Agent (including the Reimbursement Deposit Account described in Section 3.2 hereof) for all payments of principal, interest and fees as they become due on any of the Credits.

  • Borrower agrees to maintain an interest-bearing deposit account in Borrower's name with U.S. Bank (the "Reimbursement Deposit Account"), which shall be pledged to Agent as security for Borrower's performance of its obligations under this Agreement.

  • At such time as Lender shall have no further obligations under and pursuant to any Letter of Credit, Lender, after reimbursing itself for all draws under any Letter of Credit and any customary fees or other expenses due and owing in connection therewith, shall promptly remit the balance of the Reimbursement Deposit Account, if any, to the order of Borrower.

  • If from time to time, as draws on outstanding Letters of Credit have been honored and as outstanding Letters of Credit expire, funds remain in the Reimbursement Deposit Account in excess of the then aggregate undrawn face amount(s) of the remaining Letters of Credit, those funds shall be returned to Lender and shall be applied by Lender to reduce the outstanding Obligations.

  • If all Obligations have been paid and this Agreement terminated for any reason, Borrower shall immediately upon demand by Lender, deposit into, and keep on deposit in, the Reimbursement Deposit Account, for the sole benefit of and under the sole dominion and control of Lender, an amount equal to not less than 105% of the aggregate undrawn face amount(s) of all outstanding Letters of Credit, for the purpose of providing Lender with a means of repayment of draws under any of the Letters of Credit.

  • Issuing Bank shall, and Borrower and Account Party hereby authorize Issuing Bank to, debit the Reimbursement Deposit Account and any other demand deposit account of Borrower or Account Party with Issuing Bank designated by Borrower or Account Party in writing for all payments of principal, interest, Letter of Credit Fees and other fees payable under this Agreement, as they become due.

  • Issuing Bank agrees not to debit the Reimbursement Deposit Account for the amount of any Drawing under the Letter of Credit until after Issuing Bank has honored the particular Drawing under the Letter of Credit.

  • Borrower agrees to pay all fees and other amounts due to Bank hereunder, directly to Bank by deposit into the Reimbursement Deposit Account established with Bank at the address listed on the signature page hereof.

  • At such time as Lender shall have no further obligations under and pursuant to any Letter of Credit and after reimbursing itself for all draws under any Letter of Credit and any fees or other expenses due and owing in connection therewith, Lender shall remit the balance of the Reimbursement Deposit Account, if any, to the order of Borrower.

  • Borrower and Account Party agree to open a deposit account with Issuing Bank in jointly Borrower's and Account Party's name (the "Reimbursement Deposit Account"), which shall be pledged to Issuing Bank as security for Borrower's and Account Party's performance of their respective obligations under this Agreement.


More Definitions of Reimbursement Deposit Account

Reimbursement Deposit Account means the joint demand deposit established by Borrower and Account Party with Issuing Bank (Account No. 4945002251) as defined in Section 3(b) hereof.
Sample 1

Related to Reimbursement Deposit Account

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Agent Account means such account of the Administrative Agent in New York, New York as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Credit Account is modified to read “Grant Account”.