Examples of Equity Account in a sentence
The amounts specified in Section 5.01(c) shall be deposited in the Loan Account, the Capitalized Interest Account, the Costs of Issuance Account and the Equity Account of the Project Fund.
The Trustee shall make payments from the Equity Account to pay (A) all costs of acquisition, construction and equipping of the Project other than Qualified Costs of the Project, and (B) to the extent amounts on deposit in the Loan Account are insufficient for such purposes, Qualified Costs of the Project.
Any amounts received by the Trustee from the Borrower in response to demands by the Trustee or the Servicer for deposits of Borrower’s funds shall be deposited in the Equity Account of the Project Fund.
Disbursements from the Loan Account and the Equity Account shall be made by the Trustee upon receipt of a Requisition, executed by an Authorized Representative of the Borrower and approved by an Authorized Representative of the Servicer.
Amounts remaining in the Costs of Issuance Account (including investment proceeds) after the payment of all costs of issuance, and in any event not later than thirty (30) days following the Closing Date, shall be transferred to the Equity Account of the Project Fund.