Primary Accounts Clause Samples
The "Primary Accounts" clause defines which bank accounts are designated as the main accounts for a particular agreement or transaction. It typically specifies the account numbers, the financial institutions involved, and the purposes for which these accounts will be used, such as receiving payments or holding collateral. By clearly identifying the primary accounts, this clause ensures that all parties know where funds should be sent or received, reducing confusion and minimizing the risk of misdirected payments.
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Primary Accounts. Borrower will maintain its primary banking relationship with Bank, which relationship shall include Borrower maintaining account balances in any accounts at or through Bank representing at least 50% of all account balances of Borrower at any financial institution.
Primary Accounts. Borrower will maintain its primary depository and operating accounts with Bank.
Primary Accounts. Each Borrower will maintain its primary operating and investment accounts with Bank.
Primary Accounts. Borrower will maintain its primary depository and investment accounts with Bank, which shall include Borrower maintaining account balances in any such accounts at or through Bank representing at least 85% of all account balances of Borrower at any financial institution.”
Primary Accounts. Borrower will maintain its primary depository and operating accounts with Bank. In addition, Borrower shall maintain at least 51% of its cash and cash equivalents in demand deposit accounts, money market savings accounts and/or investment accounts at Bank.
Primary Accounts. Borrower will maintain its primary depository and operating accounts with Bank and shall maintain account balances in such accounts at all times equal to an aggregate of at least Fifteen Million Dollars ($15,000,000).
Primary Accounts. Borrower shall maintain an operating account with Bank. On the Closing Date, Borrower shall deposit at least Two Million Five Hundred Thousand Dollars ($2,500,000.00) with the Bank. Upon the occurrence of the Capitalization Event, Borrower shall deposit with Bank an additional Five Million Dollars ($5,000,000.00).
Primary Accounts. Subject to the provisions of Section 3.1(d) and 3.2(b), Borrower and its Subsidiaries within 60 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates, provided, however, that Dermira Canada shall be permitted to maintain one or more accounts in Canada (the “Canadian Accounts”), so long as the aggregate balance maintained in the Canadian Accounts does not exceed $800,000 at any time.
Primary Accounts. Section 6.6 of the Loan Agreement is amended and restated in its entirety as follows:
Primary Accounts. 9 6.6 Loss; Destruction; or Damage........................................ 9 6.7