Subsidiary Account definition

Subsidiary Account means the Account designated on a Sweep Services Enrollment Form as the Subsidiary Account.

Subsidiary Account means an Account where excess collected funds are automatically transferred to a Master Concentration Account leaving the subsidiary Account(s) with a daily zero balance.

Subsidiary Account means an Account to which funds are swept automatically from a Balance Account based on the Sweep Balance in the Balance Account. ▪ Sweep means the movement of the funds between the Accounts that are part of the Sweep Services. ▪ Sweep Balance means a balance threshold set by Customer for a Balance Account such that funds in an amount less or more than the balance threshold automatically sweep to or from the Balance Account.

Examples of Subsidiary Account in a sentence

• The Guarantor has reasonably concluded that its, its Material Subsidiaries’ and the Subsidiary Account Parties’ compliance with Environmental Laws is unlikely to result in a Material Adverse Effect.

• Each Subsidiary Account Party party hereto hereby acknowledges and consents to this Agreement.

• Set forth as Schedule I hereto is a true, correct and complete list of each Material Subsidiary and Subsidiary Account Party, in each case designated as such, as of the date hereof.

• Said designation and appointment shall be irrevocable by each Subsidiary Account Party until all reimbursement obligations, interest thereon and all other amounts payable hereunder shall have been paid in full in accordance with the provisions hereof and thereof or, if earlier, when such Subsidiary Account Party is terminated as a Subsidiary Account Party hereunder pursuant to Section 8.11.

• The Guarantor and each Subsidiary Account Party party hereto hereby ratifies and confirms all of its respective obligations and liabilities under the Credit Documents (as amended by the Agreement) to which it is a party and ratifies and confirms that such obligations and liabilities remain in full force and effect.

• The LC Issuer shall promptly after such examination notify the Guarantor (who shall notify the relevant Subsidiary Account Party) by telephone (confirmed by telecopy) of such demand for payment.

• In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Subsidiary Account Party to, or entered into by the Subsidiary Account Party with, the LC Issuer, relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

• Each Letter of Credit shall be a standby letter of credit in substantially the form attached hereto as Exhibit A, with such changes therein as may be requested by the relevant Subsidiary Account Party, so long as the LC Issuer approves such changes.

• Subject to the terms and conditions set forth herein, at the request of any Subsidiary Account Party at any time and from time to time during the Commitment Availability Period, the LC Issuer agrees to issue Letters of Credit denominated in Dollars for the account of such Subsidiary Account Party, that will not result in the aggregate outstanding amount of the LC Exposure of the LC Issuer exceeding the aggregate amount of the Commitment of the LC Issuer.

• If requested by the LC Issuer, the Subsidiary Account Party also shall submit a letter of credit application on standard form of the LC Issuer, in connection with any request for a Letter of Credit.

More Definitions of Subsidiary Account

Subsidiary Account. The meaning specified in Section 7.4(e).

Subsidiary Account and "Subsidiary Accounts" shall mean any OPNY Account or OPMW Account or all of them.

Subsidiary Account means a BSP account in the name of a Subsidiary.

Subsidiary Account means any account maintained at Bank under the name of a subsidiary of GAC.

Subsidiary Account shall have the meaning set forth in Section 3.13(b).