Operating Account Agreement definition

Operating Account Agreement means an agreement relating to the Operating Account, dated as of the date hereof, among Lender, Borrower and the Eligible Institution at which such account is maintained, pursuant to which such account is pledged to the Lender and the Approved Property Manager or Borrower is given full access to the funds on deposit therein but provides for the discontinuance of such access upon receipt by such Eligible Institution of written notice from Lender of the occurrence of an Event of Default, as such agreement may be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

Operating Account Agreement means an agreement (including any mandate or similar document or arrangement) between BSF and a Customer in relation to an Operating Account;

Operating Account Agreement means that certain Blocked Account Control Agreement (Shifting Control) dated on or about the date hereof among Borrowers, Agent and Cash Management Bank, as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time.

Examples of Operating Account Agreement in a sentence

• Borrower, Agent and Cash Management Bank shall enter into the Operating Account Agreement on or prior to the Closing Date.

• Subject to the terms and conditions of this Agreement, the Cash Management Agreement, the Clearing Account Agreement, and the Operating Account Agreement, Agent shall have sole dominion and control over the Cash Management Account, the Clearing Account and the Operating Account, and Loan Parties shall have no rights to make withdrawals therefrom except as provided in the Cash Management Agreement, the Clearing Account Agreement, and the Operating Account Agreement.

• Disbursements from the Operating Account will be made in accordance with the terms and conditions of this Agreement, the Operating Account Agreement and the Cash Management Agreement.

• Pursuant to the Hotel Operating Account Agreement, Hotel Operating Account Bank shall comply with instructions of Manager or Operating Lessee with respect to funds held in the Hotel Operating Account until such time as Hotel Operating Account Bank receives an instruction from Administrative Agent, in accordance with the Hotel Operating Account Agreement, directing the Hotel Operating Account Bank to cease to comply with the instructions of Manager or Operating Lessee with respect to such funds.

• Borrower agrees that, prior to the payment in full of the Obligations, the terms and conditions of the Hotel Operating Account Agreement, the Collection Account Agreement and the Holding Account Agreement shall not be amended or modified without the prior written consent of Administrative Agent (which consent Administrative Agent may grant or withhold in its sole discretion).

More Definitions of Operating Account Agreement

Operating Account Agreement means that certain Deposit Account Control Agreement (Soft Lockbox) to be executed in connection with this Agreement by and among Lender, New Borrower, and Xxxxx Fargo Bank, National Association, as the Bank.

Operating Account Agreement means an agreement relating to the Operating Account, dated as of the date hereof, among Lender, Borrower and the Eligible Institution at which such account is maintained, pursuant to which such account is pledged to the Lender and the Approved Property Manager or Borrower is given full access to the funds on deposit therein but provides for the discontinuance of such access upon receipt by such Eligible Institution of written notice from Lender of the occurrence and continuance of an Event of Default, as such agreement may be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

Operating Account Agreement means, in relation to an Operating Account which is held with the Bank, an agreement (including any mandate or similar document or arrangement) between the Bank and the Customer or a Third Party in relation to such Operating Account.

Operating Account Agreement means an agreement (including any mandate or similar document or arrangement) between a bank and a User in relation to an Operating Account;

Operating Account Agreement means (i) from the Closing Date until the Operating Lessee Operating Account Agreement takes effect, the Borrower Operating Account Agreement, and (ii) from and after the Operating Lessee Operating Account Agreement takes effect, each of the Borrower Operating Account Agreement and the Operating Lessee Operating Account Agreement, and from and after such time, “Operating Account Agreements” shall mean the Borrower Operating Account Agreement and the Operating Lessee Operating Account Agreement, collectively.

Operating Account Agreement means the Deposit Account Control Agreement (Operating Account) Borrower, Operating Lessee, Agent, Manager and the Clearing Bank pertaining to the Operating Account, dated as of the Closing Date, as the same may be modified, amended and/or supplemented and in effect from time to time.

Operating Account Agreement means that certain account control agreement by and between Borrower, Lender and Operating Concentration Bank.