Subsidiary Accounts means the consolidated annual accounts of the Subsidiary consisting of a balance sheet as of the Last Accounting Date and a profit and loss account for the period ending on the Last Accounting Date, together with the explanatory notes thereto, prepared in accordance with the applicable financial reporting standards;
Subsidiary Accounts and together with the Accounts, collectively, the "Combined Accounts") equals an amount less than (A) prior to the Registration Effective Date (as hereafter defined), $2,200,000 or (B) on and after the Registration Effective Date, 110% of the then outstanding principal amount of the Note (such amount less than $2,200,000 or less than 110% of the then outstanding principal amount of the Note, as applicable, the "Deficiency Amount"), then (i) we shall immediately assign to you (or cause our Subsidiaries to assign to you) additional accounts receivable acceptable to you (the "Additional Accounts") such that after giving effect to such assignment the aggregate net face amount of the Combined Accounts shall equal an amount not less than $2,200,000 (in the case of clause "(A)" above) or 110% of the then outstanding principal amount of the Note (in the case of clause "(B)" above) and (ii) notwithstanding anything contained in Section 4 below to the contrary, all proceeds of Collateral received by us during such time as a Deficiency Amount shall exist shall be held by us as collateral security for the Obligations to be applied by us to the Obligations in such order and at such times as we shall elect in our sole discretion. We hereby authorize you to amend Schedule A hereto, from time to time, to include thereon all such Additional Accounts and all such Additional Accounts shall constitute Accounts hereunder subject at all times to your continuing security interest therein. Other than the amendments to Schedule A contemplated by the immediately preceding sentence, no further instrument of assignment shall be required to effectuate our assignment to you hereunder of the Additional Accounts. For purposes hereof, the term "Registration Effective Date" means the date on which the registration statement relating to the Note is declared effective by the Securities and Exchange Commission.
Subsidiary Accounts means any OPNY Account or OPMW Account or all of them.
Examples of Subsidiary Accounts in a sentence
Bank shall provide to Customer the Zero Balance Account (“ZBA”) service, in which Bank shall initiate automatic transfers of funds from certain accounts designated by Customer (“Subsidiary Accounts”) into a single account designated by Customer to hold funds transferred from one or more Subsidiary Accounts (the “Master Account”) in order to arrive at a specified ending balance (“target” balance) in each Subsidiary Account.
By executing a Target Balance Account Enrollment Form, Customer will designate a Concentration Account and one or more Subsidiary Account(s) and will establish a Target Ledger Balance for each Subsidiary Account.
We shall not be required to make any transfer from the Concentration Account in excess of the funds therein, and in the event there are not sufficient collected funds in the Concentration Account to make all of the transfers required, we may allocate the funds among your designated Subsidiary Accounts in our sole and absolute discretion.
Our Zero Balance Account ("ZBA") Service enables you to consolidate your funds automatically each Business Day from designated deposit accounts ("Zero Balance Accounts" and/or "Subsidiary Accounts") into a designated master deposit account ("Concentration Account").
You acknowledge that deposits to the Concentration Account(s) and/or Subsidiary Account(s) may not be made available to you until the funds in the deposit are collected, whether or not such funds are transferred to another deposit account as part of the Service.
More Definitions of Subsidiary Accounts
Subsidiary Accounts means, collectively, the special accounts established ------------------- by the Administrative Agent pursuant to Section 8.01(b). ---------------
Subsidiary Accounts means any and all accounts that any of the Customer’s subsidiary(ies) maintains with HLBB / HLISB, which has been authorised for access and / or use by such subsidiary for the purposes of Hong Leong Online Business. The Subsidiary Account(s) with the written approval of the subsidiary company be handled from time to time by you by prior written notice to HLBB/HLISB. The expression “Subsidiary Company(ies) shall mean other customers of HLBB/HLISB duly authorising you to utilize the banking services in respect of the Subsidiary Accounts maintained by suchcustomer(s) “System Administrator(s)” means the authorised representative of the Customer who is authorised by the Customer to act on behalf of the Customer as the system administrator to create the User and Profiles and the transaction workflow within the Hong Leong Online Business “System Authorizer(s)” means the authorised representative of the Customer who is authorised by the Customer to act on behalf of the Customer as the system authorizer to approve the creation of the User and Profiles and the transaction workflow within the Hong Leong Online Business “Terms and Conditions” means these Terms and Conditions for the Hong Leong Online Business unless the context requires otherwise and includes any amendments, additions, variations or deletions made from time to time and shall refer to the terms and conditions prevailing at that time “Token” means an electronic device issued by HLBB /HLISB to the Customer for transaction authentication purposes “Transaction(s)” means any Hong Leong Online Business transaction(s), or series thereof, conducted on the Website and which may only be effected by the Customer by communicating Instructions and where applicable, providing Transaction Document(s) to the Bank in accordance with the Bank’s procedures “User” means System Administrator, System Authorizer and / or any End User’s of the Customer duly authorised by the System Administrator and/or System Authorizer “User ID” means a unique name made up of a string of characters issued by the Customer to the User, which must be keyed in by the User together with the Security Codes and Company ID in order to gain access to Hong Leong Online Business “User Guide” means the guide or guides issued by HLBB/ HLISB to the Customer containing operating instructions for the modes of access and Service made available through the Hong Leong Online Business and shall include any amendments, variations and other user guides as may be ...
Subsidiary Accounts means the outstanding accounts within the accounts receivable system as defined by group.
Subsidiary Accounts the audited financial statements of each Subsidiary for the accounting period which ended on the Accounting Date (each such financial statement comprising a balance sheet, profit and loss account, statement of cash flow, auditors’ report, and any notes, reports or statements included therein or annexed thereto), copies of which are annexed hereto as Annex III and initialled for the purposes of identification by the Parties;
Subsidiary Accounts means, collectively, the German Subsidiary Account, ------------------- the U.K. Subsidiary Account and the U.S. Subsidiary Account.
Subsidiary Accounts means any in addition to NZ Standard Account and its services or functionalities attached thereto, any other account or service provided by Longbridge NZ to the Client from time to time (if applicable).
Subsidiary Accounts means any and all accounts that any of the Customer's subsidiary(ies) maintains with RHB, which has been nominated and authorised for access and/or use by such subsidiary and which Customer’s Subsidiary has permitted the Customer access and/or use in accordance with RHB's procedures for purposes of facilitating the Customer's access and/or use of the relevant services other than the Financial Supply Chain Services under of the Reflex Cash Management Services.