Project Restricted Accounts definition
Project Restricted Accounts means, with respect to any Project, the deposit account(s) and/or securities account(s) that have been established pursuant to or in connection with an Operating Lease relating to such Project for the purpose of securing such Operating Leases and collecting, allocating and distributing proceeds generated by such Project. For the avoidance of doubt, Borrower shall comply with Section 7.12(b) with respect to any allocation or distribution of such proceeds.
Project Restricted Accounts means, with respect to any Project, the deposit account(s) and/or securities account(s) that have been established pursuant to or in connection with the Project Financing Documents relating to such Project (and any other Projects subject to such Project Financing Documents) for the purpose of securing such Project Financing Documents, including, without limitation, for collecting, allocating and distributing proceeds generated by such Project(s). For the avoidance of doubt, Borrower shall comply with Section 7.13(b) with respect to any allocation or distribution of such proceeds.
Project Restricted Accounts in Section 1.1 of the Loan and Security Agreement is hereby amended and restated to read as follows:
Examples of Project Restricted Accounts in a sentence
Attached hereto as Schedule 5.17 is a true, correct and complete Escrow Release Schedule that sets forth, on a quarterly basis, the amounts scheduled to be distributed or paid to Borrower from certain Project Restricted Accounts for each Project related to such amounts to be distributed or paid under such Escrow Release Schedule as in existence on the date hereof, assuming that Borrower meets its current revenue and expense projections for each such Project.