WF Account definition

WF Account means the Deposit Account (account number ending in 000 (last three digits)) maintained by Borrower with ▇▇▇▇▇ Fargo as of the Effective Date, over which Bank has a perfected security interest and a Control Agreement has been entered into with ▇▇▇▇▇ Fargo with respect thereto.
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WF Account has the meaning specified therefor in Section 4.2 of this Agreement.
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Examples of WF Account in a sentence

  • Borrower shall direct Account Debtors to deliver or transmit all proceeds of Accounts into a lockbox account, or such other “blocked account” as specified by Bank (either such account, the “Cash Collateral Account”); provided that payments with respect to Accounts owing by Microsoft may be first directed to the WF Account as long as Borrower is in compliance with Sections 3.3(b) and 6.8(b) hereof.

  • Notwithstanding the foregoing, or anything to the contrary herein, Borrower may maintain the WF Account, provided (i) the aggregate balance of the WF Account does not exceed Two Hundred Thousand Dollars ($200,000) at any time and (ii) Borrower sweeps the funds in the WF Account to Borrower’s operating account maintained with Bank every three (3) calendar days or as otherwise required by law.