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
Borrower shall cause amounts on deposit in the Operating Account to be applied to Remaining Costs, Operating Expenses and Capital Expenditures then due and payable in accordance with the Operating Budget (and the Administrative Agent shall countersign any withdrawal certificates required under any Control Agreements to allow such application) or, to the extent not already paid for from the Collection Account, to any amounts due and payable under then applicable Permitted Working Capital Facility.
Amounts shall be deposited into the Operating Account in accordance with Section 5.29(b)(ii)(A)(1).
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 means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.
Operating Account shall have the meaning set forth in Section 5.4.1.1.