Income Account definition

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.

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

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

Examples of Income Account in a sentence

The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Income Account to Unitholders of the Trust.
Subsequent distributions of funds from the Income Account of a Trust shall be made on the applicable Record Dates of a Trust as described herein.
Upon the occurrence and during the continuation of an Event of Default, the Seller shall have no right to direct withdrawal or application of funds in the Income Account and the Escrow Account unless authorized to do so in writing by the Agent.
From time to time, the Trustee shall withdraw from the cash on deposit in the Income Account or the Capital Account of the appropriate Trust such amounts as it, in its sole discretion, shall deem requisite to establish a reserve for any applicable taxes or other governmental charges that may be payable out of or by such Trust.
The Income Account and the Escrow Account shall be maintained by the Seller with JPMorgan Chase or with another bank reasonably satisfactory to the Agent and, in any event, shall be subject to the control of the Agent.

More Definitions of Income Account

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

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 the subaccount under a Participant’s Account which shall include all or part of a Deferred Award that is credited with interest as set forth in Section 5.