JV Account definition

JV Account means the books of account maintained by the Operator to record all assets, liabilities, costs, expenses, credits and other transactions arising out of or in connection with the Mining Operations.
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JV Account means one or more accounts to be opened by the Borrower from time to time in connection with the Joint Venture.
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JV Account means each account opened and maintained by a Project Company with the Account Bank in accordance with clause 19.2(a) (JV Account);
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Examples of JV Account in a sentence

  • The Borrower shall not, without the prior written consent of the Facility Agent, acquire or subscribe for any share or other capital of any corporate body or other investments apart from (i) Authorised Investments; (ii) those made in connection with the Merger; or (iii) subscriptions for shares in the capital of, or shareholder loans to, JV Holdco made with funds standing to the credit of the Borrower from time to time in any JV Account.

  • Each Project Company may withdraw funds from its JV Account from time to time to meet Project Outgoings and Taxes payable by the Project Company (and not included in Project Outgoings).

  • Other than in respect of the funding of JV Holdco from any JV Account, the Borrower shall not enter into any transaction with the Shareholder or any of its Affiliates on terms less favourable to the Borrower than if such transaction had been entered on an arms’ length basis with an unrelated party.

  • In addition, only the payment of the amounts authorized in Paragraph 5 above and distributions to the parties shall be made from the JV Account.

  • On each Calculation Date the balance remaining in each JV Account will be transferred to the Proceeds Account after Project Outgoings and any Taxes paid or payable by each Project Company (and not included in Project Outgoings) have been paid on the date such payment becomes due.

  • Except as provided in Section 2.05(b) or as otherwise expressly provided herein or in the Payment Direction Agreement, all payments by the Borrower hereunder shall be made in Dollars to the Lender to the Specified JV Account, in immediately available funds, and shall be made not later than 2:00 p.m., New York City time, on the date specified herein.

  • Insurance proceeds deposited to a JV Account or the Proceeds Account are to be dealt with in accordance with the Fourth Schedule.

  • Subject to the terms of the JV Agreement, it will ensure that any amounts held by the Operator on behalf of the Project Company and which are not held by the Operator for the purposes of meeting Project Outgoings which have become due and payable or which are projected to become due and payable in the then current calendar month, shall be promptly paid to the Project Company and deposited directly to the credit of the JV Account.

  • The parties agree that the JV shall establish a separate bank account (the "JV Account") for the deposit of all funds collected with respect to the JV funds.