Sold Account definition

Sold Account means an Account which Borrower or a Subsidiary has sold to, or otherwise has granted a Lien on or in favor of, the purchaser pursuant to a Qualified Receivables Transaction, for which such Credit Party has received the purchase price for such Account.
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Sold Account means an account listed on the Account Schedule (defined in the Credit Card Accounts Sale Agreement described below), as such Account Schedule may be amended from time to time, including any accounts receivable thereunder, established pursuant to a Credit Agreement between Greenwood and any other person, the account relationship of which is transferred by Greenwood and the receivables under which are transferred by Debtor/Seller to Secured Party/Purchaser pursuant to the Credit Card Accounts Sale Agreement with an Effective Date of May 27, 1998, among Debtor/Seller, Greenwood and Secured Party/Purchaser (the "Credit Card Accounts Sale Agreement"). Each Sold Account is to be identified on the computer records of Greenwood with either a 50, a 51, a 52 or a 53 in the field captioned "CHD-Portfolio-No." Secured Party/Purchaser 24 25 and Debtor/Seller hereby acknowledge that the phrase "Sold Account" shall not include any accounts the receivables of which have been transferred to (i) the Trust pursuant to the Pooling and Servicing Agreement, dated as of October 1, 1993, between Greenwood Trust Company as Master Servicer, Servicer and Seller, and U.S. Bank National Association (formerly First Bank National Association, successor trustee to Bank of America Illinois, formerly Continental Bank, National Association), as trustee, as amended from time to time (the "Pooling and Servicing Agreement"), which accounts are identified on the computer records of Greenwood with a 42 in the field captioned "CHD-Portfolio-No.", except for accounts that (a) have become "Charged-off Accounts" (as defined in the Pooling and Servicing Agreement) and (b) are listed as accounts, the receivables under which are being sold by Debtor/Seller and the account relationship of which is being sold by Greenwood under the Credit Card Accounts Sale Agreement, (ii) Discover Card Trust 1991 F pursuant to that certain Pooling and Servicing Agreement dated as of November 1, 1991, among Discover Receivables Financing Group, Inc. as Seller, Greenwood Trust Company as Servicer and Wilmington Trust Company as trustee, as amended from time to time, which accounts are identified on the computer records of Greenwood with a 31 in the field captioned "CHD-Portfolio-No.", (iii) Discover Card Trust 1991 D pursuant to that Pooling and Servicing Agreement dated as of October 1, 1991, among Discover Receivables Financing Group, Inc as Seller, Greenwood Trust Company as Servicer and Wilmington Trust Company as tr...
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Examples of Sold Account in a sentence

  • Integral Accounting System:Definition; Features; Advantages of Integration; Journal Entries; WIP Account; Finished Goods Account; Cost of Goods Sold Account; Cost of Sales Account; Preparation of Financial Statements; Reconciliation of Cost Accounting and Financial Accounting Records.

  • Because of its simplicity, an Administrator should not hesitate to use it, provided he clearly understands its significance and proper usage.For example, we enter inventory purchases into QuickBooks using a Cost of Goods Sold Account.

  • Provided that the Sold Account (as defined below) remains in good status within thirty (30) days from the Sale, You will be paid a commission for each Sold Account that generates a payment to Vendasta in a month (“Commission”).

  • At 30 June 2016, the Total Interest Cover Ratio was 4.46; the Core Interest Cover Ratio was 3.73 and Net Debt: Adjusted EBITDA was 4.05.

  • If payment for a Sold Account later results in a refund or chargeback, and if a Commission was paid to You for that Sold Account payment, then the Commission will be deducted from Your future Commissions.

  • Except as otherwise provided herein, Commission payments will be paid on the 15th of each month following Vendasta's receipt of payment for a Sold Account, subject to the other terms of this Agreement.

  • Except as otherwise provided herein, Commission payments will be paid on 15th of each month following The Xxxxxxxx Method’s receipt of payment for a Sold Account, subject to the other terms of this Agreement.

  • The three time estimates for the activities of the network shown in the given figure are shown above their arrows.

  • For the companies that do not maintain integrated cost and financial ledgers, the entry made to bring the value of closing inventory to ledger is Debit Inventory Account and Credit Cost of Goods Sold Account.

  • In addition to Account 101, Electric Plant in Service (Classified), this page and the next include Account 102, Electric Plant Purchased or Sold; Account 103, Experimental Electric Plant Unclassified; and Account 106, Completed Construction Not Classified-Electric.

Related to Sold Account

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, Performance Guarantor, Servicer, Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

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

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

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

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • 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.

  • Note Account As defined in the Indenture.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

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

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.