Installment Account definition

Installment Account means the account provided for in Section 9.03 in which are held certain amounts distributable in installments to a Participant or his Beneficiary.
Sample 1Sample 2
Installment Account means the legal relationship established by and between an Accountholder and Bank pursuant to a Credit Agreement, together with all Indebtedness owing thereunder from time to time and any current or future guaranties, security, or other credit support therefor.
Sample 1
Installment Account means an interest-bearing bank account that deposits a certain amount in monthly installment. This deposit matures on a specific date in the future, along with all the deposits made every month.
Sample 1

Examples of Installment Account in a sentence

  • After a week, fear of the outbreak of disease forced the water company to provide water.

  • Salary $ Net Investment Income… $ Real Estate Income… $ Other Income (Describe below)* $ Accounts Payable… $ Notes Payable to Banks and Others $ (Describe in Section 2)Installment Account (Auto) $ Mo. Payments $ Installment Account (Other) $ Mo. Payments $ Loan(s) Against Life Insurance $ Mortgages on Real Estate… $ (Describe in Section 4)Unpaid Taxes $ (Describe in Section 6)Other Liabilities $ (Describe in Section 7)Total Liabilities $ Net Worth $ Total $ *Must equal total in assets column.

  • After the Participant's Retirement or Termination of Service on account of Disability or death, the Participating Company which is the employer of such Participant shall pay in 120 monthly installments the vested amount credited to the Participant's Installment Account.

  • There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant's Beneficiary during the Plan Year ending on the Adjustment Date (i.e., the "current calendar quarter") and allocable to such Level-Payment Installment Account.

  • The Account Receivable, other than an Installment Account Receivable, cannot be payable in installments.

  • There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant's Beneficiary during the Plan Year ending on the Adjustment Date (i.e., the "CURRENT CALENDAR QUARTER") and allocable to such Installment Account.

  • Installment distributions of the amounts, if any, remaining in the Participant's Installment Account shall continue or commence, within 60 days following the Participant's death, to the Beneficiary pursuant to Section 5.1(b).

  • As provided by and in accordance with Article III, during the period of payment of such installments the Participant's Installment Account shall continue to be credited with its Interest Equivalent.

  • If any installment on any Installment Account Receivable remains unpaid more than 31 days past its original due date, then such Installment Account Receivable shall cease to be an Eligible Account Receivable in its entirety.

  • The Committee, in the exercise of its sole and absolute discretion, shall determine the Interest Equivalent for the "current calendar quarter" and there shall be credited the Interest Equivalent, if any, for such Level-Payment Installment Account on the last day of the calendar quarter; provided that no Interest Equivalent shall be credited for such Level-Payment Installment Account on or after the date that the Participant first receives a monthly benefit payment pursuant to Section 5.1(a)(ii)(B).

Related to Installment Account

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Installment Date as defined in Section 2.12.

  • Installment Amount means the sum of (A) (i) with respect to any Installment Date other than the Maturity Date, the lesser of (x) the quotient of (I) the Principal amount outstanding under this Note as of the initial Installment Date, divided by (II) the number of Installment Dates occurring hereunder (as determined as of the initial Installment Date assuming no Deferrals, Accelerations, redemptions or conversions hereunder prior to the Maturity Date) and (y) the Principal amount then outstanding under this Note as of such Installment Date, and (ii) with respect to the Installment Date that is the Maturity Date, the Principal amount then outstanding under this Note as of such Installment Date (in each case, as any such Installment Amount may be reduced pursuant to the terms of this Note, whether upon conversion, redemption or Deferral), (B) any Deferral Amount deferred pursuant to Section 8(d) and included in such Installment Amount in accordance therewith, (C) any Acceleration Amount accelerated pursuant to Section 8(e) and included in such Installment Amount in accordance therewith and (D) in each case of clauses (A) through (C) above, the sum of any accrued and unpaid Interest and Make-Whole Amount with respect thereto as of such Installment Date under this Note, if any, and accrued and unpaid Late Charges, if any, under this Note as of such Installment Date. In the event the Holder shall sell or otherwise transfer any portion of this Note, the transferee shall be allocated a pro rata portion of the each unpaid Installment Amount hereunder.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • 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.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Installment Due Date means, for any monthly installment of interest-only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note.

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

  • Principal Accumulation Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

  • 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.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Note Account As defined in the Indenture.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Regular account means the account established for each active and inactive member un-