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Designated Account
Designated Account contract clause examples
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Operating Account Interest. Subject to [Section 9(h)], the Buydown Amount will accrue interest at the Operating Account Rate; provided that in no event shall interest accrue on # the Buydown Amount if # on any day the Buydown Amount is less than the Minimum Balance Requirement or # the average balance of funds in the Operating Account during any calendar month is less than the Minimum Balance Requirement and # that portion of the Buydown Amount that is in excess of the lesser of # the aggregate outstanding Purchase Price of all Transactions during any calendar month or # the Minimum Balance Requirement. Unless otherwise set forth in the Pricing Letter:

BioThrax Receivables Account. Maintain the BioThrax Receivables Account with # a Lender or # another depository bank that is not a Lender, subject to a customary Account Control Agreement in favor of the Administrative Agent.

NuThrax Receivables Account. Once NuThrax has obtained either # full FDA approval or # FDA emergency use authorization pursuant to [Section 564] of the FFDCA, maintain each NuThrax

Stock Fund Account. Subject to the provisions of Sections 5 and 8.1, as of the last day of each Plan Year, the Trustee shall credit to each Participant’s Stock Fund Account: # the Participant’s allocable share of Stock purchased by the Trustee or contributed by the Employer to the Trust Fund for that year; # the Participant’s allocable share of the Stock that is released from the Unallocated Stock Fund for that year; # the Participant’s allocable share of any forfeitures of Stock arising under the Plan during that year; and # any stock dividends declared and paid during that year on Stock credited to the Participant’s Stock Fund Account.

ARTICLE # -- INVESTMENT FUNDS 11

Collection Account Access. Upon the occurrence and during the continuance of an Event of Default (and subject to [Section 5.2(a)] hereof), upon the occurrence and during the continuance of a Dominion Period (as defined in the Intercreditor Agreement) or on any date when Hypothetical Availability is less than or equal to 5% of the Credit Facility Exposure, Agent may (and shall, at the direction of Majority Lenders) notify the bank identified in any Collection Account Agreement to terminate Borrowers’ right to withdraw any funds from the Collection Accounts identified therein.

If a Director elects to direct deferred amounts of Cash Compensation into the Deferred Stock Account, then, on the applicable Compensation Payment Date, the Director’s Deferred Stock Account shall be credited with a number of Deferred Stock Units equal to # the amount deferred into the Deferred Stock Account, divided by # the Market Value on the Compensation Payment Date, and rounded to the nearest ten-thousandth; provided, however, that the Board may adopt another valuation method so long as such method is communicated in writing to Participants prior to the commencement of the Plan Period during which such valuation method will apply.

A Director’s Deferred Stock Account will be credited:

ESPP Broker Account. The Company may require that the shares purchased on behalf of each participant shall be deposited directly into a brokerage account which the Company shall establish for the participant at a Company-designated brokerage firm. The account will be known as the ESPP Broker Account. Except as otherwise provided below, the deposited shares may not be transferred (either electronically or in certificate form) from the ESPP Broker Account until the later of the following two periods: # the end of the two (2)-year period measured from the date the participant first commences participation in the Offering Period in which the shares were purchased and # the end of the one (1)-year period measured from the Purchase Exercise Date of those shares. Such limitation shall apply both to transfers to different accounts with the same ESPP broker and to transfers to other brokerage firms. Any shares held for the required holding period may thereafter be transferred (either electronically or in certificate form) to other accounts or to other brokerage firms.

Matching Restoration Account. The Employer shall establish and maintain on its books a notional Matching Restoration Account for each Participant who is credited with a Matching Restoration Credit.

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