PIP Account definition

PIP Account shall have the meaning set forth in Section 7.6.1.
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PIP Account means a sub-account of the Cash Management Account, or, at Administrative Agent’s election, a separate account at Administrative Agent, for the deposit of proceeds of the PIP Letters of Credit.
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PIP Account means a separate bank account owned solely by PIP, as described in Section 3.2(b)(iii) below.
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Examples of PIP Account in a sentence

  • Lender shall, or shall direct Servicer to, disburse the PIP Funds to Borrower out of the PIP Account upon satisfaction by Borrower of each of the following conditions with respect to each such disbursement: (i) such disbursement is for PIP Work and (ii) Borrower shall have satisfied each of the Reserve Disbursement Conditions with respect to each such disbursement.

  • Group and its authorized representatives shall have the right to review all such financial records and bank records maintained by PIP relating to the PIP Account or the Deposit Account and uses contemplated by Section 3.2(d) below.

  • To the extent that Available Revenues are not available to fund PIP costs, the Majority Bondholder will fund the remaining PIP costs in an amount equal to the amount by which remaining PIP costs exceeds such Available Revenues deposited in the FF&E PIP Account.

  • In connection with this Agreement, Group hereby assigns and transfers to PIP all rights and interest Group may have to the funds transferred from the Deposit Account into the PIP Account.

  • PIP will deposit all collections from Facility Charges directly into the PIP Account.


More Definitions of PIP Account

PIP Account shall have the meaning set forth in the Mortgage Loan Agreement.
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Related to PIP Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Rollover Contribution Account means, for any Participant, the account described in Section 12.1 or 12.2, as established by the Administrator or the Trustee, to which the Participant's Rollover Contribution, if any, is allocated.

  • AAVS Account means the account to which your Automatic Add Value Service is linked, as defined or specified in the relevant Application Form or such other account as notified to us by the Financial Institution or by the AAVS Account Holder from time to time;

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.