Sweep Accounts definition

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.

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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 appropriate Loan Party in form and substance reasonably satisfactory to the Global Administrative Agent), and re-transferred each morning to the applicable Loan Party’s deposit accounts, all on terms and conditions reasonably satisfactory to the Global Administrative Agent.

Sweep Accounts is defined in the recitals to this Agreement.

Examples of Sweep Accounts in a sentence

• In addition, some deposit accounts involve special rules that are not set forth in this Agreement; these accounts include IRAs, ▇▇▇▇▇ 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.

• For all Sweep Accounts opened on or after January 12, 2021, by agreeing to this Agreement, you opt into the Program and select the Program as your automatic deposit sweep option and appoint Varo and Stable Custody Group II LLC (“Stable”) as your authorized agents pursuant to this Agreement.

• If you have more than $250,000 in your Sweep Accounts (defined below) combined, we will always sweep funds held in your Sweep Accounts above $250,000 to provide FDIC insurance up to the maximum insured deposits.

• For all Sweep Accounts opened before January 12, 2021, you will be enrolled in the Program if you have affirmatively opted into the Program.

More Definitions of Sweep Accounts

Sweep Accounts has the meaning set forth in Section 7.15(a) hereof.

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 each of the account or accounts maintained in the Company’s name alone with the Lenders and which account or accounts are subject to a Lender Account Control Agreement.

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.

Sweep Accounts has the meaning set forth in Section 2.3(a).

Sweep Accounts means, collectively, the Dollar Sweep Account and the Euro Sweep Account, and each a “Sweep Account”.

Sweep Accounts means the deposit accounts described in Section 9.17 maintained by Borrower or any of its Subsidiaries.