Collateral Operating Account definition

Collateral Operating Account means an interest bearing Dollar account of the Collateral Owner opened or to be opened with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be the Collateral Operating Account for the purposes of this Agreement;
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Collateral Operating Account means an interest bearing Dollar account of the Guarantor opened by the Guarantor with the Account Bank and with account number 0000000 50017 and includes any sub-accounts thereof and any other account designated in writing by the Agent to be the Collateral Operating Account for the purposes of this Guarantee (and it is the Xxxxxx Operating Account referred to in the Agreement);
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Collateral Operating Account means the interest bearing Dollar account of the Collateral Owner opened by the Collateral Owner with the Bank and with account number 5104-046257-080USD and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Collateral Operating Account for the purposes of this Agreement and the Loan Agreement; "Collateral Operating Account Pledge" means a pledge executed or (as the context may require) to be executed by the Collateral Owner in favour of the Bank in respect of the Collateral Operating Account in such form as may be required by the Bank in its absolute discretion;
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Examples of Collateral Operating Account in a sentence

  • Amounts standing to the credit of the Collateral Operating Account shall (unless otherwise agreed between the Account Bank and the Guarantor) bear interest at the rates from time to time offered by the Account Bank to its customers for deposits in Dollars in comparable amounts for comparable periods.

  • The Collateral Operating Account and all amounts from time to time standing to the credit thereof shall be subject to the security constituted and the rights conferred by the Collateral Operating Account Pledge.

  • Interest shall accrue on the Collateral Operating Account from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the Collateral Operating Account at such times as the Account Bank and the Guarantor shall agree.

  • Pursuant to Section 6.05(d) of the Credit Agreement, Borrowers shall prepare and deliver to Lender a statement of "sources" and "uses" of cash from the Secondary Collateral Operating Account.

  • Disbursements for operating shortfalls in respect of the Secondary Collateral shall be transferred to the Secondary Collateral Operating Account.

  • In order to convey to the public the successful clean up of portions of the Celanese FiberFederal Register / Vol.

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More Definitions of Collateral Operating Account

Collateral Operating Account means, in relation to each Collateral Ship, an account in the name of each Collateral Owner with ABN AMRO Bank N.V. which is designated by the Agent in writing as the Collateral Operating Account, for the purposes of this Agreement and, in the plural, means both of them;
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Related to Collateral Operating Account

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Initial Reserve Account Deposit means $3,250,000.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.