Advance Payment Account definition

Advance Payment Account. The account or accounts established and maintained pursuant to Section 12.02(e) hereof.
Sample 1Sample 2
Advance Payment Account means a provision in the power purchase agreements between Niagara Mohawk and Trafalgar in respect of the Kayuta Lake facility and the Adams facility which tracks the amounts paid to Trafalgar from these two facilities which is either above or below Niagara Mohawk's actual Avoided Costs. Payments to Trafalgar above the Avoided Costs results in a positive balance to the account and a payment below the Avoided Costs results in a negative balance to the account. At the end of the contract period, a positive balance results in Trafalgar owing Niagara Mohawk the balance and a negative balance results in Niagara Mohawk owing Trafalgar the balance;
Sample 1
Advance Payment Account means an account opened with BMCT by the Customer prior to the provision of Services/Facilities by BMCT.
Sample 1

Examples of Advance Payment Account in a sentence

  • If Buyer has paid an Advance Fixed Amount pursuant to this Section D in respect of an interest period in which an Early Redemption Event Date occurs, an amount equal to the sum of the balance standing to the credit of the Advance Payment Account after payment of any amounts due in respect of the Notes due to Noteholders on the applicable redemption date of the Notes, shall be paid to Buyer.

  • The Trustee shall possess all right, title and interest in and to all funds from time to time on deposit in each Advance Payment Account and in all proceeds thereof.

  • The Servicer agrees to cooperate with the Trustee and the successor Servicer in effecting the termination of the responsibilities and rights of the Servicer hereunder, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the Servicer for deposit, or have been deposited by the Servicer, in any Advance Payment Account or Facility Account or thereafter received with respect to the related Series Trust Estate.

  • Neither the Trustee nor the Servicer shall have any right of setoff or banker's lien against, and no right to otherwise deduct from, any funds held in any Facility Account or Advance Payment Account for any amount owed to it by the Servicer, any Obligor, the Transferor, the Trustee, any Noteholder or any Series Support Provider.

  • Moneys in the Advance Payment Account shall be invested in Eligible Investments that mature no later than the relevant Servicer Remittance Date.

  • The Indenture Trustee shall transfer moneys from the Advance Payment Account to the Collection Account on the applicable Determination Date in accordance with Section 3.03(c) of the Standard Servicing Terms.

  • As a separate and independent obligation from any other indemnities contained in the Agreement, the Original Client agrees to indemnify to FGI on demand from time to time and on a full indemnity basis, all funding, breakage costs and/or costs in relation to arrangements made or incurred by FGI in connection with the funding and maintenance of the Over Advance Payment Account Balance.

  • Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings: Accounts: The Collection Account, the Advance Payment Account and the New Transferred Property Funding Account.

  • As a separate and independent obligation from any other indemnities contained in the Agreement, the Original Clients agrees to indemnify to FGI on demand from time to time and on a full indemnity basis, all funding, breakage costs and/or costs in relation to arrangements made or incurred by FGI in connection with the funding and maintenance of the Over Advance Payment Account Balance.

  • Neither the Trustee nor the Servicer shall have any right of setoff or banker's lien against, and no right to otherwise deduct from, any funds held in the Collection Account or the Advance Payment Account for any amount owed to it by the Servicer, the Obligors, the Trustee, or any Noteholder.


More Definitions of Advance Payment Account

Advance Payment Account means the bank account designated to pay Flexible Spending Account and Health Reimbursement Account claims. An agreed upon percent of the total annual election for the Plan is pre-funded and is used to pay debit card transactions and manual claims. On a weekly basis, the County replenishes the account based on the claims paid in the prior week.
Sample 1

Related to Advance Payment Account

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

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

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Note Account As defined in the Indenture.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Cash Advance Fees shall have the meaning specified in the Credit Card Agreement applicable to each Account for cash advance fees or similar terms.