Restricted Funds Account definition

Restricted Funds Account means a segregated bank account under the control of the Company or a Subsidiary, the proceeds of which are invested in cash or Cash Equivalents pending any use pursuant to Section 5.14.
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Restricted Funds Account means that certain deposit account maintained by the Company with [___] (account number: [XXXX]), which account shall be subject to a “blocked” account control agreement in favor of the Collateral Agent.
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Examples of Restricted Funds Account in a sentence

  • The Company hereby agrees to take any or all action that may be necessary or desirable or that the Collateral Agent may request in order for the Collateral Agent to obtain control in accordance with Sections 9-104, 9-105, 9-106, and 9-107 of the Code with respect to the Restricted Funds Account.

  • At any time on or prior to the earlier of (i) the third anniversary of the Spin-Off and (ii) the one-year anniversary of the Spin-Off if as of such date, all of the cash held in the Restricted Funds Account has not been released to the Company pursuant to Section 13(p) of the Notes, neither the Company nor any of its Subsidiaries shall, directly or indirectly, effect any Subsequent Placement unless the Company shall have first complied with this Section 4(o).

  • Upon delivery of an Officers' Certificate from the Company or any of its Subsidiaries notifying the Trustee and the Collateral Agent of the release of funds from the Restricted Funds Account and certifying that such funds will be used in compliance with Section 5.15 within the time provided by Section 5.15, but not later than 30 days after the transfer of such funds, the Company or its Subsidiary, as the case may be, may transfer such funds from the Restricted Funds Account.

  • The Issuers or any Guarantor may invest Cash Collateral in the Restricted Funds Account only in Cash Equivalents.

  • Interest and other amounts earned on such Cash Collateral shall be held by the Collateral Agent in the Restricted Funds Account as additional Collateral.

  • The provisions regarding the Restricted Funds Account and the Account Management Policy, as such terms are defined in the November 2002 Consent, shall remain in full force and effect and shall apply to funds received in connection with the sale and issuance of Series F Preferred Stock.

  • Any amendments to the Restricted Funds Account and the Account Management Policy or the resolutions set forth in the November 2002 Consent with respect to the Restricted Funds Account and the Account Management Policy shall require the prior approval of the Audit Committee (including the director elected by the Financial Investors).

Related to Restricted Funds Account

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Controlled Disbursement Account means any accounts 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.

  • Controlled Account means each deposit account and securities account that is subject to an account control agreement in form and substance satisfactory to the Administrative Agent and the L/C Issuer.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Controlled Deposit Account means each Deposit Account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • 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.

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

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • 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.

  • Holding Account means an account:

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

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • 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.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).