Capital Expenditure Subaccount definition
Capital Expenditure Subaccount has the meaning set forth in Section 6.3.1.
Capital Expenditure Subaccount shall have the meaning set forth in Section 2.He) hereof.
Capital Expenditure Subaccount means the account established by the Paying Agent and maintained by the Cash Management Account Bank in accordance with the terms of Section 6.3.1 titled “82561502, Capital Expenditure Account - ▇▇▇▇▇ Fargo Bank, N.A., as Paying Agent in trust for the Secured Parties” or such other account established at the Cash Management Account Bank as may be designated in writing from time to time by the Paying Agent to the Administrative Agent and Borrower.
Examples of Capital Expenditure Subaccount in a sentence
Amounts deposited from time to time into the Capital Expenditure Subaccount pursuant to this Section 6.3.1 are referred to herein as the “Capital Expenditure Funds”.
Borrower shall deposit with the Paying Agent on each Payment Date, an amount equal to one-twelfth of the product of (i) $800 multiplied by (ii) the number of Properties as of such Payment Date, in order to accumulate sufficient funds, for annual Capital Expenditures, which amounts shall be transferred into the Capital Expenditure Subaccount.
Amounts deposited in the Capital Expenditure Subaccount are referred to herein as the “Capital Expenditure Funds”.