Disbursement Account definition

Disbursement Account means an account established and owned by Company and held at the Disbursement Institution against which wire transfers and ACH transfers are settled for payment of Loan Proceeds to Borrowers.

Disbursement Account has the meaning ascribed to it in Section 1.1(e).

Disbursement Account means the account established by Buyer pursuant to which funds shall be disbursed to fund any Wet Loan.

Examples of Disbursement Account in a sentence

• The Backup Servicer (including, for the avoidance of doubt, if it is then acting as Successor Servicer), the Collection Account Bank and the Disbursement Account Bank shall be express third party beneficiaries of the provisions of Section 2.10.

• Subject to Section 5.14, (a) the Borrower shall not establish or maintain any deposit account or a securities account that is not subject to a "control agreement" in favor of the Collateral Agent; and (b) the Borrower shall not, nor direct any Person to, deposit Collections in a deposit account or a securities account that is not a Collection Account or the Disbursement Account.

• Each Collection Account Control Agreement shall provide that all funds on deposit in a Collection Account will be remitted to the Disbursement Account on each Business Day.

• In connection with any prepayment of the Loans made in order to cure a Borrowing Base Deficiency, the Company may make a corresponding capital contribution to the Borrower by depositing an amount equal to such Borrowing Base Deficiency into the Disbursement Account for distribution in accordance with Section 2.10 hereof.

• The Disbursement Account is maintained solely in the name of the Castlelake Representative.

More Definitions of Disbursement Account

Disbursement Account shall have the meaning provided in Section 9.15(a).

Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

Disbursement Account shall have the meaning assigned to it in Annex C.

Disbursement Account has the meaning set forth in Section 2.15(b)(ii).

Disbursement Account shall have the meaning ascribed to such term in the Custodial Agreement.

Disbursement Account shall have the meaning specified in Section 2.2(f).

Disbursement Account has the meaning assigned to such term in Section 2.4(a).