Income Account means a demand deposit account established by the Seller with a bank satisfactory to the Administrative Agent under the provisions of Section 8, which shall be subject to the control of the Administrative Agent.

Income Account means an account relating to the income property of the scheme;

Income Account means the Account by that name created and established by Section 4.1 hereof.

Examples of Income Account in a sentence

Section 1.671-5(b)(22), any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account.
The net proceeds of any sale of Securities representing income shall be credited to the Income Account and then disbursed therefrom for payment of expenses and payments to Unit holders as otherwise provided in this Indenture.
Such expenses shall be paid from the Income Account, or to the extent funds are not available in such Account, from the Capital Account, against an invoice or invoices therefor presented to the Trustee by the Depositor.
The Trustee shall not be required to make a distribution from the Income Account or the Capital Account unless the aggregate cash available for distribution within the meaning of Treas.
The proceeds of sale credited to the Income Account of the Trust.

More Definitions of Income Account

Income Account shall have the meaning assigned to it in Section 3.02.

Income Account means the account referred to in clause 22 hereof.

Income Account means an account referred to in paragraph 5 of Part A of Schedule 3 to this Agreement;

Income Account shall have the meaning specified in Section 4 of this Agreement.

Income Account means an Account set up by the Service Provider to receive the Service Provider’s Income, which will be transferred to this account from the Revenue Account.

Income Account shall have the meaning specified in Section 6.

Income Account means a demand deposit account established by the Seller with a bank satisfactory to the Agent under the provisions of Section 8.