Borrower Proceeds Account definition

Borrower Proceeds Account has the meaning given to it in the Plateau Senior Facilities Agreement;
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Borrower Proceeds Account means the Rand denominated bank account referred to in clause 13.30.2(a) and as defined in the Senior Facilities Agreement;
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Borrower Proceeds Account means the account in the name of the Borrower with the Account Bank number ▇▇▇▇▇▇▇▇ assigned to the Lender pursuant to the Borrower Proceeds Account Assignment.
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Examples of Borrower Proceeds Account in a sentence

  • An amount shall not be regarded as being due and payable for purposes of this clause in the event that there is not sufficient proceeds credited to the Borrower Proceeds Account in order for the Borrower to pay such amount to the Lender on that date in accordance with the terms of the Global Intercreditor Agreement (having regard to all prior payments which the Borrower is required to make in accordance with the Global Intercreditor Agreement).

  • We request that the Advance be paid into the Borrower Proceeds Account.

  • We request that the Advance be paid into the [Borrower Proceeds Account / Holdco Business Account / Opco Business Account].

  • The Lender shall be entitled to at any time notify the Borrower that it shall only be entitled to elect the Borrower Proceeds Account for purposes of receiving payment of certain specified or all future Advances, which notice shall take effect in accordance with its terms.


More Definitions of Borrower Proceeds Account

Borrower Proceeds Account means “Borrower Proceeds Account” as defined in the Senior Facilities Agreement.
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