Operating Account Rate definition

Operating Account Rate shall have the meaning specified in the Pricing Letter.
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Operating Account Rate shall equal, for any calendar quarter [***]%.
Sample 1

Examples of Operating Account Rate in a sentence

  • The Buydown Amount will accrue interest at the Operating Account Rate, subject to Section 9(e) below.

  • To the extent the Minimum Buydown Threshold is met, such amount shall accrue interest at the Operating Account Rate.

  • Subject to Section 9(h), The Buydown Amount will accrue interest at the Operating Account Rate; provided that in no event shall interest accrue on (A) the Buydown Amount (x) if on any day the Buydown Amount is less than the Minimum Balance Requirement or (y) the average balance of funds in the Operating Account during any calendar month is less than the Minimum Balance Requirement and (B) that portion of the Buydown Amount that is in excess of the Minimum Balance Requirement.

  • The Operating Account Advances bearing interest at the Operating Account Rate may be prepaid, either in whole or in part, without penalty or premium, at any time and from time to time without prior notice to Lender.

Related to Operating Account Rate

  • 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.

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

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

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