Account Lessee definition

Account Lessee means any Person that is an obligor in respect of any Lease.
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Account Lessee means any Person that is an obligor in respect of any Lease. “Adjusted Current Lease Balance” shall mean for each Lease, (a) if the ratio of the Original Net Lease Cost to Lease Cost is equal to or greater than ninety percent (90%), the Current Lease Balance, and (b) if the ratio of the Original Net Lease Cost to Lease Cost is less than ninety percent (90%), the lesser of (i) the Original Net Lease Cost and (ii) the Current Lease Balance.
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Account Lessee means any Person that is an obligor in respect of any Lease. “Additional Interest” shall have the meaning set forth in Section 3.6(b).
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Examples of Account Lessee in a sentence

  • Concurrently with each such deposit into the Deposit Account, Lessee shall give Lessor written Notice thereof, specifying the amount of such deposit and including a reasonably detailed breakdown of such amount.

  • In addition to the FF&E Reserve Account and the Escrow Account, Lessee shall establish and maintain, or shall cause the Operator to establish and maintain in the name of and for the benefit of the Hotel, adequate reserve accounts for the payment of all Impositions, insurance premiums, deferred maintenance, and capital repairs, replacements and improvements as shall be required to ensure the continued operation of the Hotel as a Luxury Hotel for the full Term of this Lease.

  • Notwithstanding anything to the contrary in this Section 6.15, Borrower hereby authorizes Agent, at any time after the occurrence of an Event of Default, to send directions to each Account Lessee to make payments directly to the Collateral Account.

  • Upon the opening of the Operating Account, Lessee shall immediately deposit into the Operating Account a sum estimated by Lessee and Manager to be necessary for the initial operation of the Hotel.

  • For the avoidance of doubt, should Lessor determine that Lessee has failed to comply with the provisions of this Section 18.3(f) and transfers the foregoing amount to the New Cash Collateral Account, then, during such period as the Additional Cash Collateral Level remains in the New Cash Collateral Account, Lessee shall not be subject to any minimum account balance requirements for the New Account or the WT Account (on a separate or combined basis).

  • Borrower shall not, and shall cause Servicer to not, make any change in the instructions to any Account Lessee on any Lease with respect to any instructions to such Account Lessees regarding payment to be made to the Collateral Account or any Servicer Physical Payment Address.

  • Without limiting Lessee’s covenant under Section 18.3(h), prior to entering into any future financing in which the related secured party shall have a blanket Lien or a specific Lien on the New Account, Lessee must deliver to Lessor a letter, in the form of Exhibit A attached hereto, from the related secured party.

  • As soon as available, and in any event within ten (10) days of receipt of each statement or any correspondence regarding the Cash Collateral Account, Lessee shall deliver to the Agent a copy of such statement or correspondence.

  • If and to the extent Lessee places money market mutual funds in the Account, Lessee covenants and agrees not to convert the same to either of the other two permitted forms of cash collateral (United States government agency securities and United States treasuries).

  • All Scheduled Payments, interest, principal, prepayments (both voluntary and mandatory), and other amounts received of any and every description payable to Borrower by or on behalf of such Account Lessee pursuant to the applicable Lease, the related Portfolio Documents, or any other related documents or instruments with respect to the Leases pledged as Collateral for the Revolving Advances shall be paid directly to the Collateral Account.

Related to Account Lessee

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Security Deposit Account has the meaning given in Section 5.1.

  • Account Bank means any of them.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Account Owner means a telecommunications company, including SBC-13STATE, that stores and/or administers Line Record Information and/or Group Record Information in a Party’s LIDB and/or Calling Name Database.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Designated Account Bank has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that is located within the United States that has been designated as such, in writing, by Borrowers to Agent).

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Yield Supplement Account Deposit means the initial deposit of cash in the amount of $[_________] made by or on behalf of the Seller into the Yield Supplement Account on the Closing Date.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Direct Account : means any Account which is not an ISA Account.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Primary Account or “Settlement Account” shall mean, in case of multiple Accounts linked to the ATM/Debit Card, the Account that has been designated as being the main/first Account of operation i.e. the Account from which purchase transactions, charges and fees related to the ATM/Debit Card are debited.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Collection Accounts As defined in Section 3.10(a).

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.