Engineering Escrow Account definition

Engineering Escrow Account means an Escrow Account established and maintained pursuant to Section 5.12 hereof relating to payments for any Required Engineering Work.
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Engineering Escrow Account shall, if there is an Initial Engineering Deposit, mean an Escrow Account established and maintained pursuant to Section 5.12 hereof relating to payments for any Required Engineering Work.
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Examples of Engineering Escrow Account in a sentence

  • In the event that all sums in the Engineering Escrow Account have been utilized for the Required Engineering Work and no sums remain on deposit in the Engineering Escrow Account, Lender shall, upon receipt of written request of Borrower, transfer up to the $500,000 from the Capex Trap Escrow Account to the Engineering Escrow Account.

  • All sums deposited into the Operation and Maintenance Expense Escrow Account, the Curtailment Reserve Escrow Account, the Recurring Replacement Reserve Escrow Account, the Debt Service Reserve Escrow Account, the Reletting Reserve Escrow Account, the Underwritten Rent Escrow Account and the Engineering Escrow Account shall be held in an interest bearing account but Borrower acknowledges that Lender makes no representation or warranty as to the rate of return.

  • Borrower shall promptly commence and diligently thereafter pursue to completion (without regard to the amount of money then available in the Engineering Escrow Account) the Required Engineering Work prior to the six (6) month anniversary of the Closing Date.

  • Should an Event of Default occur, the sums on deposit in the Engineering Escrow Account may be applied by Lender in payment of any Required Engineering Work or may be applied to the payment of the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided.

  • Borrower shall pay all costs, fees and expenses incurred in connection with the establishment and maintenance of, or the disbursement from, the Recurring Replacement Reserve Escrow Account, Reletting Reserve Escrow Account, the Engineering Escrow Account and the Operation and Maintenance Escrow Account, which sums shall be due and payable by Borrower upon demand and may be deducted by Lender from amounts on deposit in the Central Account or the Escrow Accounts.

  • All interest paid or other earnings on funds deposited into the Reletting Reserve Escrow Account, the Engineering Escrow Account and the Underwritten Rent Escrow Account made hereunder shall be deposited into the Central Account and shall be allocated to the Reletting Reserve Escrow Account, the Engineering Escrow Account or the Underwritten Rent Escrow Account, as applicable.

  • Lender shall not have any liability for any loss in investments of funds in the Recurring Replacement Reserve Escrow Account, Reletting Reserve Escrow Account, the Engineering Escrow Account or the Operation and Maintenance Escrow Account and no such loss shall affect Borrower’s obligation to fund, or liability for funding, the Central Account and each Sub-Account and Escrow Account, as the case may be.

  • Borrower shall pay all costs, fees and expenses incurred in connection with the establishment and maintenance of, or the disbursement from, the Reletting Reserve Escrow Account, the Engineering Escrow Account and the Underwritten Rent Escrow Account, which sums shall be due and payable by Borrower upon demand and may be deducted by Lender from amounts on deposit in the Central Account or the Escrow Accounts.

  • All interest paid or other earnings on funds deposited into the Basic Carrying Costs Escrow Account, Recurring Replacement Reserve Escrow Account and the Engineering Escrow Account made hereunder shall be deposited into the Central Account and shall be allocated to the Basic Carrying Costs Escrow Account, Recurring Replacement Reserve Escrow Account or the Engineering Escrow Account, as applicable.

  • All sums deposited into the Basic Carrying Costs Escrow Account, Recurring Replacement Reserve Escrow Account and the Engineering Escrow Account shall be held in an interest bearing account but Grantor acknowledges that Lender makes no representation or warranty as to the rate of return.

Related to Engineering Escrow Account

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Escrow Accounts means a SEK bank account and/or EUR bank account and/or a NOK bank account opened by the Arranger with a reputable bank on which the proceeds from the Bond Issue will be held until the Conditions Precedent for Disbursement have been fulfilled.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Professional Fee Escrow means an escrow account established and funded pursuant to section 2.6 of the Plan.

  • 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.

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

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

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

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Indemnity Escrow Amount means $3,000,000.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

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

  • Project Fund means the fund required to be established by this Resolution for the deposit of the proceeds of the Bonds.

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Adjustment Escrow Amount means $1,000,000.

  • Adjustment Escrow Funds means the amounts held in the Adjustment Escrow Account, including any dividends, interest, distributions and other income received in respect thereof, less any losses on investments thereof, less distributions thereof in accordance with this Agreement and the Escrow Agreement.

  • Professional Fee Reserve Amount means the aggregate Accrued Professional Compensation through the Effective Date as estimated by the Retained Professionals in accordance with Article II.A.2.c of this Plan.

  • Purchase Price Adjustment Escrow Amount means $3,000,000.