Excluded Account

Excluded Account. (A) any deposit account or any other accounts which (i) are used for the sole purpose of making payroll, payroll and withholding Tax payments related thereto (the employee portion thereof) and other employee wage and benefit payments and accrued and unpaid employee compensation (including salaries, wages, bonuses, benefits and expense reimbursements), (ii) are used for the sole purpose of paying Taxes, including payroll, withholding and sales or similar Taxes and Tax Distributions, (iii) are... zero balance deposit accounts, (iv) constitute custodian, trust, fiduciary or other escrow accounts or collateral accounts established for the benefit of third parties in the ordinary course of business in connection with transactions permitted hereunder, or (v) are accounts that contain amounts which do not exceed a balance of $10,000 per such account or $50,000 for all such accounts in the aggregate or (B) (i) that certain deposit account identified as number 55519203 established and maintained at Bank of America, N.A. for Team Beachbody Canada, LP and (ii) that certain deposit account identified as number 56969209 established and maintained at Bank of America, N.A. for Myx Fitness, LLC, solely for so long as the average balance on deposit therein over any four-week period shall not exceed the Dollar equivalent of $4,000,000 in the aggregate, which average balance shall be measured on and as of the date of delivery of each weekly Liquidity report delivered (or required to be delivered) pursuant to Section 7.01(a)(v) (beginning with the first such report immediately following the First Amendment Effective Date) on a trailing four week basis (by calculating the average of the balance on deposit in such accounts on the date of such weekly Liquidity report and on the date of each of the three most recent weekly Liquidity reports delivered (or required to be delivered) pursuant to Section 7.01(a)(v) prior to such date), in each case, as evidenced by such report. View More

Excluded Account. Any deposit account and securities account (a) which is specially and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the Company's salaried employees, and any other deposit account, securities account or financial asset in which such security interest would be unlawful or in violation of any employee benefit plan or employee benefit agreement, (b) used specially and exclusively for the sole purpose of paying or remitting taxes,... including sales taxes, to the extent the granting of a security interest therein would be unlawful, and (c) used specially and exclusively as an escrow account or as fiduciary or trust accounts for the benefit of unaffiliated third parties View More

Excluded Account. Shall mean the accounts as may be agreed by Lender from time to time. Aggregate balances in Excluded Accounts will not exceed $250,000.

Excluded Account. Means any Account (including, for the avoidance of doubt, any cash, cash equivalents or other property contained therein) to the extent, and for so long as, such Account (A) is pledged to secure (i) performance of tenders, bids, leases, statutory or regulatory obligations, surety and appeal bonds, government contracts, performance and return-of-money bonds, and other obligations of like nature, in each case, in the ordinary course of business or (ii) liability for reimbursement or... indemnification obligations in respect of letters of credit or bank guarantees for the benefit of landlords, in each case whether such pledge is by escrow or otherwise or (B) is used specifically and exclusively for payroll, payroll taxes, workers' compensation or unemployment compensation premiums or benefits, pension benefits, and other employee wage and benefit payments to or for the benefit of any of Grantor's or any of its Subsidiary's employees. View More

Excluded Account. Any (a) accounts used for payroll, payroll taxes or other employee benefits, (b) insurance trust accounts holding funds necessary to fund the accrued insurance obligations of Debtor and its Subsidiaries in respect of self-insured health insurance and worker's compensation insurance, (c) any escrow accounts maintained in connection with (i) the transactions contemplated by the PSA or (ii) from time to time after the date hereof, any acquisition or investment permitted by the terms of the Credit... Agreement and (d) any other accounts with respect to which the aggregate amount on deposit does not exceed $100,000 View More

Excluded Account. Means any Deposit Account which is used solely (i) to fund payroll, 401(k) and other employee benefit plans, (ii) as a withholding tax account or (iii) as a trust or fiduciary account.