Sovereign Account definition
Sovereign Account means the Borrower’s collateral account at Sovereign Bank, N.A. numbered […***…] cash securing a letter of credit issued by Sovereign Bank, N.A. in respect of ▇▇▇▇▇▇▇▇’s leased location in Cambridge, Massachusetts with a balance not to exceed $220,000.
Sovereign Account means Borrower’s collateral account at Sovereign Bank numbered 69806004268 cash securing a letter of credit issued by Sovereign Bank in respect of Borrower’s leased location in Cambridge, MA with a balance not to exceed Two Hundred and Twenty Thousand Dollars ($220,000).
Examples of Sovereign Account in a sentence
Except for the Non-US Assets, and except as set forth in the Schedule and as permitted by Section 6.6 with respect to the J▇ ▇▇▇▇▇▇ Account and Sovereign Account, none of the Collateral is maintained or invested with a Person other than Bank or Bank’s Affiliates.
Notwithstanding the foregoing, Borrower may maintain the JPMorgan Account and Sovereign Account at JPMorgan and Sovereign Bank, respectively.