Closing Account definition
Examples of Closing Account in a sentence
Master Servicing Payment Closing Account No.: Account No.: 066-611059 Beneficiary: Aurora Loan Services Inc.
The amount retained (inclusive of accrued interest in the Closing Account) shall be paid once the encumbrance has been deleted or a bank has confirmed in writing that the encumbrance will be deleted.
The Inventory List shall be prepared by representatives of the Seller and the Purchaser (the "Closing Account Statement Representatives") jointly by the taking of a physical inventory of the Seller's inventory beginning immediately after the close of business on the day immediately preceding the Closing Date.
The Closing Account Statement shall be in accordance with the true, complete and correct books and records of the Seller and shall be true, complete and correct and accurately present the financial information in respect of the Seller set forth therein as of the close of business on the date thereof, and in accordance with the covenants, promises, agreements, representations and warranties of the Seller set forth in this Agreement.
The Total Cash shall be verified by the Closing Account Statement Representatives through examination of the books and records of the Seller, including, but not limited to, the Seller's bank books, checking account statements and cheek books, certificates of deposits, and money market account statements, after the close of business on the day immediately preceding the Closing Date.