Clearing Account definition

Clearing Account means the account so designated and established by Section 5.04(1) hereof.

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Clearing Account has the meaning set forth in Section 2.7.1 hereof.

Clearing Account shall have the meaning set forth in Section 6.1.

Examples of Clearing Account in a sentence

• Lender and its servicer shall have the sole right to make withdrawals from the Clearing Account.

• All costs and expenses for establishing and maintaining the Clearing Account shall be paid by Borrower.

• Notwithstanding anything to the contrary contained herein or in any other Loan Documents, in the event Borrower shall receive any amounts constituting Rents and Profits during the occurrence and continuance of a Trigger Period, Borrower shall deposit all such amounts received by Borrower or the property manager into the Clearing Account within one (1) Business Day after receipt thereof.

• The Clearing Account shall be under the sole dominion and control of Lender.

• Upon the first occurrence of a Trigger Period and in accordance with the Clearing Account Agreement, Borrower shall deliver written instructions (which instructions can be revoked only upon the termination of the Trigger Period) to all tenants under Leases to deliver all Rents and Profits payable thereunder directly to the Clearing Account.

More Definitions of Clearing Account

Clearing Account means Account No. 4159359173 in the name of the Seller maintained at Well▇ ▇▇▇go Bank, N.A.

Clearing Account shall have the meaning set forth in Section 10.1(a) hereof.

Clearing Account shall have the meaning ascribed to such term in the Cash Management Agreement.

Clearing Account means the “Clearing Account” as defined in the Clearing Account Agreement.

Clearing Account means the account into which HUD, VA and USDA remit all Income (including, without limitation, claims and proceeds) on account of Early Buyout Loans.

Clearing Account means the depositary account identified as such on Exhibit E into which Collections are collected or deposited.

Clearing Account shall have the meaning set forth in the Mortgage Loan Agreement.