Participation Account definition

Participation Account means the deposit account established and maintained by Seller at Bank for the purpose of holding funds of Seller to be used to pay Seller’s Funding Amounts. The account number for the Participation Account is identified in Schedule 1 to the Pledge Agreement.

Participation Account means the bookkeeping account to which there is credited the Participant’s Deferred Compensation, together with any interest, dividends, gains, losses, or the like thereon.

Participation Account means the deposit account established and maintained by Seller at Bank for the purpose of holding funds of Seller to be used to pay Seller's Funding Amounts. The account number for the Participation Account is identified in Schedule 1 to the Pledge Agreement.

Examples of Participation Account in a sentence

• Dealer grants Apex Auto Lending a security interest in the Dealer Participation Account (as hereinafter defined), any and all monies therein, accounts, receivables, and rights to payment of money owed by Apex Auto Lending, or any of its affiliates, to Dealer.

• Amounts placed in the Dealer Participation Account may be applied in N.K.’s discretion to any indebtedness of Dealer to N.K. arising under this Agreement or otherwise and shall secure the performance of Dealer’s obligations to N.K arising under this Agreement or otherwise.

• Dealer grants N.K. a security interest in the Dealer Participation Account.

• If Altura and Dealer shall agree with respect to any Eligible Contract, a portion of the Dealer Participation Amount determined by Altura shall be placed in a non-interest bearing account established in the name of Dealer ("Dealer Participation Account").

• Dealer grants Altura a security interest in the Dealer Participation Account.

More Definitions of Participation Account

Participation Account means an interest-bearing account held by SunTrust for the benefit of FMC and SunTrust at SunTrust, which account shall hold Participation Account Deposits made by FMC and shall be subject to the terms of this Agreement.

Participation Account means the bookkeeping account(s) maintained in accordance with Section 5.4 for the purpose of recording a Participant’s Deferred Compensation, together with any interest, dividends, gains, losses, or the like thereon.

Participation Account means the interest-bearing account of Borrower for the investment of excess Collateral proceeds not required for the repayment of Obligations hereunder (or application to the obligations under the Floor Plan Financing Documents), which account is subject to the terms of the Intercreditor Agreement.

Participation Account means a deposit account established and maintained by Seller at Bank for the purpose of providing the source of funds for Seller’s Funding Amounts. With respect to each Mortgage Loan in which Bank elects to purchase a Participation Interest, (a) Seller shall maintain on deposit in the Participation Account good funds in an amount not less than Seller’s Funding Amount for such Mortgage Loan and (b) subject to the terms and conditions of this Agreement, Bank shall debit Seller’s Funding Amount for the Mortgage Loan from the Participation Account and disburse such funds to the applicable Escrow Agent.

Participation Account means the separate account maintained for each Participant pursuant to Plan Section 6.1 for the purpose of recording the Participant's proportionate interest in the Trust Fund.

Participation Account has the meaning assigned to such term in the Participation Agreement.

Participation Account means account number 004890202640, the interest-bearing account maintained by, or under the control of, the Agent for the account of the Company for the investment of excess Collateral proceeds not required for the repayment of Loans hereunder (or application to the WF Credit Facilities pursuant to Section 8.5 hereof and the Intercreditor Agreement).