Operating Expense Account definition

Operating Expense Account shall have the meaning set forth in Section 8.4 hereof.

Operating Expense Account has the meaning provided in Section 2.13(c).

Operating Expense Account shall have the meaning described in Section 3.5.2 of the Agreement.

Examples of Operating Expense Account in a sentence

• On any Business Day after the occurrence and during the continuance of an Event of Default, Lender or its servicer may in its sole discretion deposit into the Operating Expense Account, the Working Capital Reserve Account or the Debt Service Reserve Account any funds then on deposit in the Local Collection Account or the Collection Account.

• On the first Monthly Payment Date occurring after each occurrence of a Trigger Period, Borrower shall make a True Up Payment into the Operating Expense Account.

• Provided no Event of Default shall have occurred and be continuing, Lender shall, or shall direct Servicer to, disburse Operating Expense Funds to Borrower out of the Operating Expense Account promptly following each Payment Date for the payment of Approved Operating Expenses at the Property and any Extraordinary Expenses requested by Borrower and approved by Lender in accordance with the terms hereof in each case for the applicable monthly period.

• On an as needed basis, Capital shall transfer the funds from the above stated account into an Operating Expense Account in the name of the Facility.

• On each Weekly Allocation Date, the Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to withdraw on such date an amount equal to the lesser of (i) the sum of all Securitization Operating Expenses then due and payable and (ii) the amount on deposit in the Securitization Operating Expense Account after giving effect to any deposits thereto pursuant to the Priority of Payments on such date and apply such funds to pay any Securitization Operating Expenses then due and payable.

More Definitions of Operating Expense Account

Operating Expense Account means the Operating Expense Account in the Revenue Fund created and established pursuant to Section 5.6 of this Indenture.

Operating Expense Account has the meaning assigned in the Cash Management Agreement.

Operating Expense Account shall have the meaning set forth in Section 7.5 hereof. “Operating Expense Funds” shall have the meaning set forth in Section 7.5 hereof. “Operating Expense Monthly Deposit” shall have the meaning set forth in Section 7.5 hereof. “Operating Expenses” shall mean the total of all expenditures, computed in accordance with the Approved Accounting Method, of whatever kind relating to the operation, maintenance and management of the Property that are incurred on a regular monthly or other periodic basis, including without limitation, (and without duplication) (a) utilities, ordinary repairs and maintenance, insurance, license fees, property taxes and assessments, advertising expenses, payroll and related taxes, computer processing charges, management fees (equal to the greater of (x) three percent (3.0%) of Gross Rents and (y) actual management fees payable under the Management Agreement), operational equipment or other lease payments as approved by Lender, but specifically excluding (i) depreciation, (ii) Debt Service, (iii) non-recurring or extraordinary expenses, and (iv) deposits into the Reserve Funds; (b) normalized capital

Operating Expense Account has the meaning ascribed to such term in Section 4.1(1).

Operating Expense Account has the meaning set forth in Section 7 hereof. (oo) "Other Charges" has the meaning set forth in Section 5 hereof. (pp) "Policies" has the meaning set forth in Section 4(d) hereof. (qq) "Premises" means those certain parcels of real property comprising the Mortgaged Property, as more particularly described on Exhibits A to the Mortgages, and with respect to the Premises related to the Facility, the Premises shall also include, without limitation, any and all property comprising the psychiatric hospital and behavioral health center operated by or on behalf of Sierra, Borrower or their respective affiliates, as the case may be. (rr) "Remedial Work" has the meaning set forth in Section 37 hereof.

Operating Expense Account has the meaning specified in Section 5.01(l)(vi).

Operating Expense Account the meaning set forth in Section 3.5.