Examples of Capital Improvement Account in a sentence
Lender shall not be required to disburse Capital Improvement Funds more frequently than once each calendar month or in amounts less than $25,000 in the aggregate, provided, however, that the final disbursement from the Capital Improvement Account may be in an amount less than $25,000.
From time to time, at the request of Borrower, Lender shall disburse interest earned on the Capital Improvement Account to the Borrower for deposit into the Operating Account provided Lender is reasonably satisfied that sufficient funds remain in such Accounts to complete all Capital Work required hereunder.
Mr. Pennell stated the Lancaster County Board of Supervisors directed that future expenditures from the Capital Improvement Account be specifically approved at a regular meeting of the Board of Supervisors.
The Company Accounts will include a Capital Improvement Account, as further described and governed by the terms set forth in Section 2 of the Permitted Capital Improvement Addendum attached hereto as Annex V (and references in the Transaction Documents to this Section 12.13 will be deemed to include such Section 2 of the Permitted Capital Improvement Addendum).
Subject to the terms and conditions herein and in the other Transaction Documents, the Company must use Asset Proceeds, Excess Working Capital Advances, and funds in the Capital Improvement Account, the Working Capital Reserve Account, the Collection Account or any other Company Account solely for such purposes as are expressly permitted herein, in the Custodial and Paying Agency Agreement and in the other applicable Transaction Documents.