Insurance Subaccount definition

Insurance Subaccount has the meaning set forth in Section 6.2.1.
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Insurance Subaccount shall have the meaning set forth inSection 2.l(b) hereof.
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Insurance Subaccount. 3.4 “Insured Casualty” - 7.2.2 “Interest Rate Protection Agreement” - 2.
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Examples of Insurance Subaccount in a sentence

  • All interest which accrues on the funds in any Cash Management Account (other than the Tax and Insurance Subaccount) shall accrue for the benefit of Borrower and shall be taxable to Borrower and shall be added to and disbursed in the same manner and under the same conditions as the principal sum on which said interest accrued.

  • If Lender determines in its reasonable judgment that the funds in the Tax and Insurance Subaccount will be insufficient to pay (or in excess of) the Taxes or Insurance Premiums next coming due, Lender may increase (or decrease) the monthly contribution required to be made by Borrower to the Tax and Insurance Subaccount.

  • Notwithstanding anything to the contrary contained in Section 6.2.1, if an Acceptable Blanket Policy is in effect with respect to the Policies required pursuant to Section 5.1.1, deposits into the Insurance Subaccount required for Insurance Premiums pursuant to Section 6.2.1 shall be suspended to the extent that Insurance Premiums relate to such Acceptable Blanket Policy.

  • Amounts deposited from time to time into the Insurance Subaccount pursuant to this Section 6.2.1 are referred to herein as the “Insurance Funds”.

  • Any Insurance Funds remaining in the Insurance Subaccount after the Obligations have been paid in full shall be returned to Borrower.

  • Provided no Event of Default is continuing, Lender shall apply Insurance Funds in the Insurance Subaccount to timely pay, or reimburse Borrower for payments of, Insurance Premiums.

  • Notwithstanding the foregoing, Borrower may, by written notice to Lender given not less than ten (10) Business Days prior to a Payment Date, elect to reinstate, as of such Payment Date, deposits to the Insurance Subaccount with respect to the Insurance Premiums for one or more of the Policies required pursuant to Section 5.1.1 for which an Acceptable Blanket Policy is in effect.

  • If Lender determines in its reasonable judgment that the funds in the Tax and Insurance Subaccount will be insufficient to pay (or in excess of) the Taxes or Insurance Premiums next coming due, Lender may increase (or decrease) the monthly contribution required to be made by Borrowers to the Tax and Insurance Subaccount.

  • Lender will (a) apply funds in the Tax and Insurance Subaccount to payments of Taxes and Insurance Premiums required to be made by Borrower pursuant to Section 5.2 hereof and Section 7.1 hereof, provided that Borrower has promptly supplied Lender with notices of all Taxes and Insurance Premiums due, or (b) reimburse Borrower for such amounts upon presentation of evidence of payment; subject, however, to Borrower’s right to contest Taxes in accordance with Section 5.2 hereof.

  • All interest which accrues on the funds in any Cash Management Account (other than the Tax and Insurance Subaccount) shall accrue for the benefit of Borrowers and shall be taxable to Borrowers and shall be added to and disbursed in the same manner and under the same conditions as the principal sum on which said interest accrued.


More Definitions of Insurance Subaccount

Insurance Subaccount. Senior Loan Agreement “Insured Casualty” - 7.2.2 “Intellectual Property” - 4.28 “Intercreditor Agreement” - 9.8 “Issuer” - 10.1.3
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Insurance Subaccount has the meaning specified in Section 2(b). “Lockbox Account” has the meaning specified in Section 2(b).
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Insurance Subaccount means the account established by the Paying Agent and maintained by the Cash Management Account Bank in accordance with the terms of Section 6.2.1 titled “00000000, Insurance Account - Xxxxx Fargo Bank, N.A., as Paying Agent in trust for the Secured Parties” or such other account established at the Cash Management Account Bank as may be designated in writing from time to time by the Paying Agent to the Administrative Agent and Borrower.
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Related to Insurance Subaccount

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

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

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

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

  • Insurance Fund means the pest control insurance fund established pursuant to this compact.

  • Subaccount means any subaccount designated and established hereunder.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

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

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

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

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • 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.

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

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

  • Expense Account The account established and maintained pursuant to Section 3.25.

  • 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.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Insured Amounts means, with respect to any Distribution Date, the Deficiency Amount for such Distribution Date.

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Separate Accounts means the accounts which are to be prepared for each

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.