General Funds Account definition

General Funds Account means an account maintained by the Parent Borrower, to which the Administrative Agent will, subject to the terms and conditions set forth herein, cause to be transferred certain amounts on deposit in the Collateral Proceeds Account.
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Examples of General Funds Account in a sentence

  • The Parent Borrower may at any time withdraw any funds contained in the General Funds Account for use, subject to the provisions of the Credit Agreement, for general corporate purposes.

  • The Collateral Agent will not be required to transfer any funds from the Collateral Proceeds Account to the General Funds Account until all Events of Default are cured or waived.

  • The cost of the project will be paid from Restricted General Funds Account No. 121.

  • For trading operations carried out by schools on the school premises, proceeds derived therefrom should be properly reflected in the school account, usually the Subscriptions (Tong Fai) Account, General Funds Account or Capital Reserve Fund Account, or dealt with in any other manner approved by the EDB.

  • In the event that an Event of Default has occurred and is continuing, the U.S. Collateral Agent and the Grantors agree that the U.S. Collateral Agent, at its option, may require that each U.S. Collateral Proceeds Account and the General Funds Account of each Grantor be established at the U.S.

  • In the event that an Event of Default has occurred and is continuing, the Collateral Agent and the Grantors agree that the Collateral Agent, at its option, may require that each Collateral Proceeds Account and the General Funds Account of each Grantor be established at the Collateral Agent.

  • In the event that an Event of Default has occurred and is continuing, the Administrative Agent and the Grantors agree that the Administrative Agent, at its option, may require that each Collateral Proceeds Account and the General Funds Account of each Grantor be established at the Administrative Agent.

  • Commissioner Brumfield introduced and presented a resolution relative to a matured Fidelity GOVT MMKT Capital Reserves CL to authorize its Executive Director/CEO, Patrick Dufresne, to redeem and transfer funds to the STPPC General Funds Account related to the holdings with Hancock/ Whitney Investment Services, Inc., the STPPC Money Market, at its Current Market Value Amount of $166,995.28 to be used as needed.

  • It is recommended the Board approve the staff for Meetings and Evaluations on an as needed basis, at their contracted per diem rates, as noted, in accordance with provisions of the B.O.E. /B.T.E.A. Agreement/Teachers (which is effective July 1, 2013 through June 30, 2016) to be paid via Payroll through the General Funds, Account # 11-000-219-104-03-07 and sufficient funds are available in the 2016- 2017 budget.

  • Under GASB Statement No. 23, Accounting and Financial Reporting for Refundings of Debt Reported by Proprietary Activities, unamortized deferral on refunding shows the actual gain or loss on refunding transactions.

Related to General Funds Account

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

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

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

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

  • Collateral Fund The fund established and maintained pursuant to Section 3.01 hereof.

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

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

  • 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.

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

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • 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.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Note Account As defined in the Indenture.

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

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • 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.

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

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

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • 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.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.