Seller’s Account means such account as the Seller may specify to the Guarantor from time to time Īdministration Account As defined in Section 7.02. Lender’s Account means an account at a bank designated by Lender from time to time as the account into which Borrower shall make all payments to Lender under this Agreement and the other Loan Documents unless and until Lender notifies Borrower to the contrary, Lender's Account shall be that certain deposit account bearing account number 323-266193 and maintained by Lender with The Chase Manhattan Bank, 4 New York Plaza, 15th Floor, New York, New York 10004, ABA #000000000. Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof. Special Account means the account referred to in Section 2.02 (b) of this Agreement īusiness Account means an Account used primarily for business purposes and not for personal, family, or household purposes. Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223. Separate Accounts means the accounts which are to be prepared for each 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 ĭesignated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor. Surplus Account has the meaning assigned to it in Section 3.02(a).Ĭollections Account has the meaning given to such term in Section 3.01(a) hereof. Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).
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