Interest Escrow Account definition

Interest Escrow Account means the account held by the Escrow Agent for the benefit of the Trustee in accordance with the Escrow and Disbursement Agreement.

Interest Escrow Account means the account in which the Interest Escrow Agent holds funds for the benefit of the Holders of the Notes and the Trustee.

Interest Escrow Account means the escrow account established pursuant to Section 2.

Examples of Interest Escrow Account in a sentence

• All such funds shall be held in the Interest Escrow Account until disbursed in accordance with the terms hereof.

• These tinancial s†a†emen†s ate †he tesponsibili†y ot †he Company’s Uanagemen†.

• The Company and the Trustee each shall provide a certificate to Escrow Agent as to the incumbency and signatures of those individuals authorized to provide from time to time instructions relating to the Interest Escrow Account or to execute documents to be provided to Escrow Agent.

• The fees for consultation with such counsel shall be a proper expense chargeable to the Interest Escrow Account without a Payment Notice and Disbursement Request, provided that Escrow Agent provides the Company with prior written notice of any such charge.

• Concurrently with the execution and delivery hereof, the Company shall deliver the Initial Escrow Amount to the Escrow Agent for deposit into the Interest Escrow Account against the Escrow Agent's written acknowledgment and receipt of the Initial Escrow Amount.

More Definitions of Interest Escrow Account

Interest Escrow Account means the escrow account established pursuant to SECTION 2.

Interest Escrow Account means, (a) initially, that certain deposit account of the Collateral Agent (or its sub-agent) as notified in writing to the Borrower and the Lenders, or (b) if permitted by the Collateral Agent in its sole discretion, any deposit account of the Borrower designated by the Borrower from time to time in writing to the Collateral Agent, subject to a Control Agreement in favor of the Collateral Agent, in form and substance reasonably satisfactory to the Collateral Agent (it being understood and agreed that the Collateral Agent shall have sole control over the Interest Escrow Account immediately upon the occurrence of the Closing Date and at all times thereafter).

Interest Escrow Account means the Interest Reserve Account (as such term is defined in the First Lien Intercreditor Agreement) into which a portion of the net proceeds of the offering of the Notes in an amount expected to equal approximately 18 months of interest payments in respect of the Notes and the Credit Facility will be deposited on the Issue Date.

Interest Escrow Account means, (a) initially, that certain deposit account of the Collateral Agent (or its sub- agent) as notified in writing to the Borrower and the Lenders, or (b) if permitted by the Collateral Agent in its sole discretion, any deposit account of the Borrower designated by the Borrower from time to time in writing to the Collateral Agent, subject to a Control Agreement in favor of the Collateral Agent, in form and substance reasonably satisfactory to the Collateral Agent (it being understood and agreed that the Collateral Agent shall have sole control over the Interest Escrow Account immediately upon the occurrence of the Closing Date and at all times thereafter).

Interest Escrow Account means one or more deposit accounts subject to the control of the Collateral Agent, from which withdrawals shall be made to pay interest, as and when due, on the First Lien Obligations.

Interest Escrow Account means the Issuer's account maintained by the Account Bank and pledged in favour of the Bondholders or the Security Agent as a pledgee which shall be used to maintain reserves for payment of the interest accrued on the Bonds.

Interest Escrow Account has the meaning assigned thereto in Section 2.5.