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.
Operating Account shall have the meaning set forth in Section 2.7(a).
Operating Account has the meaning set forth in Section 2.09(b).
Examples of Operating Account in a sentence
At any time, so long as no Default or Event of Default has occurred and is continuing or would result therefrom, the Borrower may cause any amounts on deposit in the Operating Account to be disbursed at the discretion of the Borrower.
For the avoidance of doubt, the Borrower may use the proceeds of Advances on deposit in the Operating Account for the purpose of acquiring Loans to be pledged as Collateral by the Borrower hereunder subject, in each case, to the satisfaction of the requirements set forth in Section 3.2. If an Event of Default has occurred and is continuing, any amounts in the Operating Account shall be available for application in accordance with Section 2.8.
More Definitions of Operating Account
Operating Account. Is defined in Section 7-3.
Operating Account. Defined in Section 7.3(a)(iii).
Operating Account is defined in Section 1.3(a), and maintained in accordance with the terms of Xxxxx Fargo’s Commercial Account Agreement in effect for demand deposit accounts.
Operating Account means the account that you normally use for the day-to-day cash needs of your business, and may be either or both of a Canadian dollar and a U.S. dollar account.
Operating Account has the meaning given to such term in Section 3 hereof.
Operating Account shall have the meaning set forth in Section 5.4.1.1.
Operating Account means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.