Lessee Revenue Account definition

Lessee Revenue Account means the bank accounts opened and maintained in Lessee’s name, or in a name designated by Lessee, with a banking institution selected by Lessee, into which all income, receipts and proceeds included in the definition of Gross Hotel Income (without exclusion of any of the items excluded from the definition of such term) shall be deposited.
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Lessee Revenue Account has the meaning set forth in Section 3.01(b) (
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Lessee Revenue Account has the meaning set forth in Section 3.01(b) of the Accounts Agreement.
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Examples of Lessee Revenue Account in a sentence

  • All income, receipts, and proceeds included in the definition of Gross Hotel Income shall be deposited into Lessee Revenue Account.

  • All receipts and income, including, without limitation, Gross Hotel Income shall be promptly deposited in the Lessee Revenue Account.

  • Each of the Borrower Revenue Account, the Capital Improvements Account and the Lessee Revenue Account shall have been established to the reasonable satisfaction of the Administrative Agent.

  • As of the date hereof and as of the Bring Down Date, Lessee does not have, and is not the beneficiary of, any bank account other than (i) the Lessee Revenue Account and (ii) Lessee Local Accounts set forth on Schedule 16.2.22 with respect to which Blocked Account Agreements have been duly executed and delivered.

  • The Accounts Bank shall not have title to the funds on deposit in the Borrower Accounts or the Lessee Revenue Account, as applicable, and shall credit the Borrower Accounts or the Lessee Revenue Account, as applicable, with all receipts of interest, dividends and other income received on the property held therein.

  • Notwithstanding anything contained in this Agreement or any other Financing Document to the contrary, the Accounts Bank may rely and shall be protected in acting or refraining from acting upon any instruction, direction, notice, certificate, request or requisition of the Borrower (with respect to any Borrower Account), OpCo II (with respect to any Lessee Revenue Account), the Administrative Agent or the Collateral Agent.

  • Upon delivery by the Collateral Agent to OpCo II of a Notice of Suspension and until written revocation of such Notice of Suspension is delivered to OpCo II by the Collateral Agent, any amounts in the Lessee Revenue Account shall be invested from time to time, solely in such Cash Equivalents as the Collateral Agent may direct.

  • Except as otherwise expressly provided in this Agreement, the Collateral Agent will have the sole right to issue directions and instructions to the Accounts Bank, acting as securities intermediary or bank, as the case may be, in accordance with this Agreement, and to issue entitlement orders with respect to the Borrower Accounts or the Lessee Revenue Account, as applicable.

  • The Accounts Bank further agrees to accept and hold, as securities intermediary or as a bank, in its custody and in accordance with the terms of this Agreement, for the Collateral Agent, on behalf of the Senior Secured Parties, the Borrower Accounts and the Lessee Revenue Account and the Accounts Property.

  • The Lessee Revenue Account shall have been established to the reasonable satisfaction of the Administrative Agent.


More Definitions of Lessee Revenue Account

Lessee Revenue Account means the bank accounts opened and maintained in Lessee's name, or in a name designated by Lessee, with a banking institution selected by Lessee, into which all income, receipts and proceeds included in the definition of Gross Hotel Income (without exclusion of any of the items excluded from the definition of such term) shall be deposited. "Marketing Plan" shall have the meaning set forth in Section 3.02(i). "Mortgage" shall mean any deed to secure debt, mortgage or deed of trust, from time to time, encumbering all or any portion of the Property, together with all other instruments evidencing or securing payment of the indebtedness secured by such deed to secure debt, mortgage or deed of trust and all amendments, modifications, supplements, extensions, and revisions of such mortgage, deed of trust and other instruments. "NOI" shall mean Net Operating Income, which shall be determined by deducting Adjusted Operating Expenses from Gross Hotel Income. "Operating Account" shall mean the bank account opened and maintained in Operator's name, or in a name designated by Operator, with a banking institution selected by Lessee, from which disbursements shall be made pursuant to the terms of this Agreement. "Operating Budget" shall mean the budget relating to the operation of the Hotel as described in Section 6.01. "Operating Equipment" shall mean linens, chinaware, glassware, silverware, uniforms, utensils and other non-consumable items of similar nature. "Operating Expenses" shall mean all costs and expenses of maintaining, conducting and supervising the operation of the Property, to the extent set forth in an Approved Budget, incurred pursuant to this Agreement or as otherwise specifically provided herein which are properly attributable to the period under consideration under Lessee's system of accounting, including without limitation:
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Related to Lessee Revenue Account

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

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

  • 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.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • 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 [*];

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Finance Charge Account is defined in Section 4.9(a).

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Collateral Charge-Offs shall have the meaning specified in subsection 4.06(c).

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.