Operational Account definition

Operational Account means an account located at a reputable commercial bank acceptable to the World Bank for the Project, which is managed by the PMU.
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Operational Account means, in respect of each Seller, the account to be established by one of the Sellers with Barclays Bank Plc by no later than 15 January 2008 into which all amounts to which each Seller is entitled to withdraw from its Collection Account from time to time shall be transferred, and any other account designated as such with the written consent of the Funding Agent.
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Examples of Operational Account in a sentence

  • Manager shall be entitled to designate authorized signatories on such account, provided that such authorized signatories shall only be entitled to draw on the Operational Account consistent with the terms of this Agreement.

  • To deposit all Gross Revenues, as defined in Section 4.a below, directly into the Operational Account, in accordance with Section 2.i below.

  • Manager shall deposit all payments received through such billing and collection activities into the Operational Account, as defined in Section 2.i below.

  • Manager shall calculate the Management Fee due for such period, and Manager shall prepare a check or electronic transfer, drawn on the Operational Account, in the amount of the Management Fee (the “Manager Check”).

  • Manager shall deposit into the Operational Account all cash, checks, money orders and other instruments received by Corporation.

  • If Physician or the Licensed Health Professionals directly receive any Gross Revenues, Physician shall immediately deliver any and all such Gross Revenues to Manager for deposit into the Operational Account.

  • NV will ensure that sufficient balances are kept in the Operational Account to cover operational expenses.

  • NV must open the Operational Account within thirty (30) days following the Effective Date.

  • In 2006 an updated financial appraisal revealed that the Council could no longer afford to meet the Government’s Decent Homes Standard by 2010 and that the Housing Revenue Account (Housing Services’ Operational Account) would fall into deficit by 2009/10 due to the requirement to pay £9 million to the Government every year.

  • Income is posted once per month, on the first business day of the month and transferred to the Fund's operational account (the "Operational Account").