Sweep Accounts means deposit accounts, the proceeds of which are transferred nightly to an interest-bearing concentration account maintained by the Administrative Agent or another Lender (provided that upon an Event of Default such Lender shall, at the request of the Administrative Agent, enter into a control agreement with the Administrative Agent and appropriate Canadian Credit Party in form and substance reasonably satisfactory to the Administrative Agent), and re-transferred each morning to the applicable Canadian Credit Party’s deposit accounts, all on terms and conditions reasonably satisfactory to the Administrative Agent.
Sweep Accounts is defined in the recitals to this Agreement.
Sweep Accounts has the meaning set forth in Section 7.15(a) hereof.
Examples of Sweep Accounts in a sentence
The Sweep Accounts agreement shall include all the certification provided in the Repurchase Agreement and adherence to paragraph 4-3, Collateralization of Deposits.
Sweep Accounts is a contractual agreement between a bank and a HA which provides that the bank will regularly "sweep" or transfer any available collected balances from the HA's account into repurchase agreements.
The School District’s investments will be limited to low risk investments to include Certificates of Deposit, Money Market Accounts, Sweep Accounts or other like investments.
In addition, some deposit accounts involve special rules that are not set forth in this Agreement; these accounts include IRAs, XXXXX plans, and Sweep Accounts.
Any interest rate paid to you in your Sweep Accounts as part of the Program is determined pursuant to agreements with the Program Banks and is subject to change at any time.
More Definitions of Sweep Accounts
Sweep Accounts means deposit accounts, the proceeds of which are transferred nightly to an interest-bearing concentration account maintained by the Global Administrative Agent or another Lender (provided that upon an Event of Default such Lender shall, at the request of the Global Administrative Agent, enter into a control agreement with the Global Administrative Agent and the Borrower or Restricted Subsidiary, as appropriate, in form and substance reasonably satisfactory to the Global Administrative Agent), and re-transferred each morning to the Borrower’s or Restricted Subsidiary’s, as applicable, deposit accounts, all on terms and conditions reasonably satisfactory to the Global Administrative Agent.
Sweep Accounts means an account or accounts maintained in the Company’s name alone with the Administrative Agent and which account or accounts are subject to a Lender Account Control Agreement.
Sweep Accounts has the meaning set forth in Section 2.3(a).
Sweep Accounts means the Concentration Account, the Lockbox Accounts, the Corporate Depository Account and the International Depository Account (each as defined in Schedule 5.16 hereof) and any additional account(s) or replacement(s) for such accounts approved by Lender in a writing designating such account(s) as Sweep Accounts. ``Tax'' or ``Taxes'' means any present or future tax, levy, impost, duty, charge, fee, deduction or withholding of any nature and whatever called, by any federal, state or local governmental authority or any political subdivision or taxing authority thereof, on whomsoever and wherever imposed, levied, collected, withheld or assessed; provided that ``Tax on the overall net income'' of a Person shall be construed as a reference to a tax imposed by the jurisdiction in which that Person's principal office (and/or, in the case of Lender, its Lending Office) is located or by any political subdivision or taxing authority thereof or in which that Person is deemed to be doing business on all or part of the net income, profits or gains of that Person (whether worldwide, or only insofar as such income, profits or gains are considered to arise in or to relate to a particular jurisdiction, or otherwise).
Sweep Accounts means, collectively, each of account number 7675413377, 7675414837, 7675414365 and 7675413849 held at Sovereign Bank, N.A. or such other Controlled Accounts as agreed to in writing by Collateral Agent, in each case, so long as each such account is subject to a Controlled Account Agreement in favor of the Collateral Agent in the form attached hereto as Exhibit B-2 or such other form reasonably acceptable to the Collateral Agent.
Sweep Accounts means, collectively, the Dollar Sweep Account and the Euro Sweep Account, and each a “Sweep Account”.
Sweep Accounts means deposit accounts, the proceeds of which are transferred nightly to an interest-bearing concentration account maintained by the Administrative Agent or another Lender (provided that upon an Event of Default such Lender shall, at the request of the Administrative Agent, enter into a control agreement with the Administrative Agent and the Borrower or Restricted Subsidiary, as appropriate, in form and substance reasonably satisfactory to the Administrative Agent), and re-transferred each morning to the Borrower’s or Restricted Subsidiary’s, as applicable, deposit accounts, all on terms and conditions reasonably satisfactory to the Administrative Agent.