Disbursements Account definition

Disbursements Account means any Deposit Account maintained by Borrower with Bank for the purpose of depositing the proceeds of Loans made pursuant hereto.
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Disbursements Account has the meaning given to that term in the Opco Finance Documents;
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Disbursements Account means an account where all amounts received from every bulk consumer and distribution company in respect of balancing charges are lodged;
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Examples of Disbursements Account in a sentence

  • Borrower hereby grants to Bank a security interest in and lien upon all items and balances held in any lockbox, the Disbursements Account and the Collections Account as Collateral for the Obligations, in addition to and cumulative with the general security interest in all assets of Borrower (including all Deposit Accounts) contained in Section 9.1 hereof.

  • Assets available for expenditures for grants and administrative expenses are booked on different accounts (Operating Account and Disbursements Account).

  • Funds may be transferred from the Operating Account to the account of a grantee, to a sub-operating account in one of the core countries or to the Disbursements Account (see below) upon the signature of any two of the Chairman, the Vice Chairman, the Treasurer and the ED.

  • The signature of any two of the Chairman, the Vice Chairman, the Treasurer and the ED is required to transfer funds from the Endowment/Investment Account to the Operating Account or the Disbursements Account.

  • Funds may also be transferred from the Operating Account to the Disbursements Account upon the signature of the ED, acting by his signature or telephonic order alone, in the amount of up to Euro 30,000 per month.

  • The ED has signature authority over the Disbursements Account (acting alone) for the purpose of doing so.

  • Although this account is currently dormant, this account was historically funded from the Corporate Operating Account and the Marine India Collections Account and transferred funds to the Marine India Disbursements Account.

  • The CPAF maintains a second account for its operational expenses intended to be used for payment of its day to day expenditures, its so-called Disbursements Account.

  • The Borrower, Holdco and Opco authorise the Account Bank (or the Disbursements Account Bank, as the case may be) to give the Senior Agent, unrestricted access on reasonable prior notice to review such books and records relating to the Transaction Accounts held by the Account Bank (or the Disbursements Account Bank, as the case may be) for the purpose of monitoring compliance with the Finance Documents.

  • The CPAF’s bookkeeper and tax advisor has authority to make transfers from the Disbursements Account to cover payroll and other administrative expenses previously authorized in writing by the ED.


More Definitions of Disbursements Account

Disbursements Account means an account in the name of DFL held with RBS with account number
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Related to Disbursements Account

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Agent’s Account means the Deposit Account of Agent identified on Schedule A-1.

  • Other Investments Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund, other than Company Stock.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • 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.

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

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

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Administrative Agent’s Account means, for each Currency, an account in respect of such Currency designated by the Administrative Agent in a notice to the Borrower and the Lenders.

  • Disbursement is defined in Section 2.6.2.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.

  • Investment Account As defined in Section 3.12(a).

  • Lender’s Account means the account identified in Schedule L-1.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

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

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.