UK Dominion Account definition

UK Dominion Account each lockbox or Deposit Account established by the UK Loan Parties which is either (i) subject to a fixed charge lien in favor of Agent or (ii) subject to a floating charge lien in favor of Agent which shall, upon the occurrence of a Cash Dominion Event and subsequent creation of a fixed charge lien in favor of Agent over such lockboxes or Deposit Accounts, become subject to a fixed charge lien in favor of Agent, in each case, in accordance with Section 7.3.2.
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UK Dominion Account each special account established by the UK Domiciled Loan Parties at Bank of America (London) over which Agent or European Security Trustee has exclusive control for withdrawal purposes. UK Eligible Accounts: at any time, the Accounts of the Applicable UK Borrower at such date except any Account:
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UK Dominion Account has the meaning specified therefor in Section 2.15(d)(ii).
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Examples of UK Dominion Account in a sentence

  • Subject to Section 10.1.13, the ledger balance in any U.K. Dominion Account of the U.K. Borrowers as of the end of a Business Day shall be applied to the U.K. Facility Obligations whether or not a Dominion Trigger Period exists.

  • All amounts received by the UK Guarantors and any UK Collection Bank in respect of any Account, in addition to all other cash, funds, checks, electronic funds transfers, credits or other items received from any source, shall upon receipt be deposited into a UK Collection Account or directly into the UK Dominion Account.

  • Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes, taxes, or employee benefits, or an account, not being a UK Dominion Account, containing not more that $10,000 at any time (subject to the limitations in Section 8.2.6)).

  • Except as set forth in Sections 7.2.1 and 8.4 hereof, each Borrower shall (and shall cause each other Loan Party to) promptly notify Agent of any opening or closing of a Deposit Account or a Securities Account and shall not open or close any Deposit Account or other bank account in the United Kingdom (including any UK Dominion Account) except with the prior written consent of the Agent, and will amend Schedule 8.6 to reflect same.

  • Notwithstanding anything to the contrary contained in this Section 5.7 or this Agreement, in no event shall amounts on deposit in a UK Dominion Account be applied to Domestic Obligations.

  • UK Guarantor, Foothill, and the UK Dominion Banks shall enter into the UK Dominion Agreements, which among other things shall provide for the opening of a depositary account over which Foothill shall have dominion and control (a "UK Dominion Account") for the deposit of all such Collections at such UK Dominion Bank.

  • Borrower agrees, and, by its execution and delivery of its Guaranty, UK Guarantor shall agree, that all such Collections and other amounts received by UK Guarantor from any Account Debtor or any other source immediately upon receipt shall be deposited into a UK Dominion Account.

  • If a Dominion Account or a UK Dominion Account is not maintained with Lender, Lender may require immediate transfer of all funds in such account to a Dominion Account or a UK Dominion Account, respectively, maintained with Lender.

  • US Dominion Account: any Dominion Account other than a UK Dominion Account.

  • Such Activation Notice may direct the applicable bank or financial institution to be sent by an electronic funds transfer method acceptable to Agent no less frequently than once per Business Day all amounts then on deposit in the applicable Disbursement Account to the US Dominion Account, Canadian Dominion Account or UK Dominion Account (each as defined below), as applicable, such amounts to be treated and applied in accordance with Section 2.15(d)(v).


More Definitions of UK Dominion Account

UK Dominion Account has the meaning set forth in Section 2.7(b). ------------------- -------------- "UK Dominion Agreements" those certain depository account agreements, ---------------------- in form and substance satisfactory to Foothill, each of which is among UK Guarantor, Foothill, and one of the UK Dominion Banks.
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UK Dominion Account a Dominion Account maintained at Bank of America, N.A. (acting through its London branch) and designated by Lender as the UK Dominion Account, or such other account as may be designated by Lender to Borrower in writing for the deposit of payments on UK Accounts, over which Lender has exclusive control for withdrawal purposes. UK Loan Sublimit: $500,000.
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UK Dominion Account one or more special accounts established by UK Borrower at Bank of America over which Agent has exclusive control of withdrawal purposes over which the relevant UK Borrower has granted Agent a first ranking fixed charge.
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Related to UK Dominion Account

  • Dominion Account means a special account established by a Borrower at Bank of America or another bank acceptable to the Administrative Agent, over which the Administrative Agent has exclusive control for withdrawal purposes.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Control Account means a Securities Account or Commodity Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodity Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Collection Accounts As defined in Section 3.10(a).

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Restricted Account means an account at Xxxxx Fargo Bank, N.A. associated with the Loan to which Borrower’s access is restricted. Capitalized terms used in these Additional Terms and Conditions to Disbursement Instruction Agreement and not otherwise defined herein shall have the meanings given to such terms in the body of the Agreement.

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.