Excluded Deposit Account

Excluded Deposit Account. Means the Wells Fargo checking account number 028-5064622, provided that to the extent the amount deposited in such account exceeds $314,715, then such account shall become a "Deposit Account" for all purposes hereunder

Excluded Deposit Account. Deposit Accounts the balance of which consists exclusively of (i) withheld income taxes and federal, state or local employment taxes required to be paid to the Internal Revenue Service or state or local government agencies with respect to employees of the Borrower or any Subsidiary and (ii) amounts required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec. 2510.3 102 on behalf of or for the benefit of employees of the Borrower or any Subsidiary and (b) all segregated Deposit... Accounts constituting (and the balance of which consists solely of funds set aside in connection with) payroll accounts, trust accounts, and accounts dedicated to the payment of accrued employee benefits, medical, dental and employee benefits claims to employees of the Borrower or any Subsidiary View More

Excluded Deposit Account. Means, collectively, all Deposit Accounts established or held (including sub-accounts) for the exclusive purpose of funding payroll, payroll or employment taxes or employee benefits, or a "zero balance account" or an account containing not more than $100,000 at any time unless such a Deposit Account is subject to a control agreement for the benefit of the Administrative Agent.