Property Bank definition

Property Bank means, collectively, the banks which maintain and hold the Property Accounts.
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Property Bank means (i) on the date hereof, Xxxxx Fargo Bank, N.A., so long as the same remains an Eligible Institution, (ii) after the date hereof, any successor Eligible Institution designated as Property Bank from time to time in accordance with the terms hereof, or (iii) any other financial institution otherwise reasonably approved by Lender and, if a Securitization has occurred, with respect to which a rating Agency Confirmation has been obtained.
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Property Bank means Bank of America, N.A. and any replacement Eligible Institution.
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Examples of Property Bank in a sentence

  • All rents and other monies so collected by Property Manager shall be immediately deposited in the Property Bank Account (as defined below).

  • Property Manager shall not be obligated to make any advance to or for the account of Owner or to pay any sums except out of funds in the Property Bank Account.

  • Property Manager shall pay all normal operating expenses specifically provided for in the Approved Operating Budget not paid for by tenants of the Property in a manner commercially reasonable for the Property from funds in the Property Bank Account described in Section 7.01(a).

  • A reconciliation of receipts and expenditures will be prepared by Property Manager in accordance with Section 6.02 above to account for any prior period operating cash overage or shortage and any additional cash payments due to Owner will be made to Owner no later than the twenty-fifth (25th) day of the current month and any overpayments made to Owner will be returned to Property Manager for deposit in the Property Bank Account no later than the thirtieth (30th) day of the current month.

  • Only those persons specifically authorized by Property Manager and approved by Owner shall have authority to write checks from the Property Bank Account.

  • A monthly cash payment will be made by Property Manager to Owner solely from funds in the Property Bank Account in excess of the amount of the Working Capital Reserve in an amount equal to the excess, if any, of the current month projected cash receipts less the current month's budgeted operating and capital expenditures.

  • In any action or suit to foreclose upon any of the Mortgaged Property, Bank shall be entitled, without notice or consent, and completely without regard to the adequacy of any security for the Indebtedness, to the appointment of a receiver of the business and premises in question and of the rents and profits derived therefrom.

  • A monthly cash payment will be made by Property Manager to Owner solely from funds in the Property Bank Account in excess of the amount of the Working Capital Reserve in an amount equal to the excess, if any, of the current month projected cash receipts less the current month’s budgeted operating and capital expenditures.

  • If Client does not furnish such information for any such Property, Bank shall carry the Property at any such nominal value it determines, such value to be for bookkeeping purposes only.

  • Borrower shall deliver irrevocable written instructions to Property Bank, in form and substance reasonably acceptable to Lender, directing Property Bank to comply with all instructions originated by Lender (and/or its agents, including Servicer) directing the disposition of funds in the Collection Accounts without further consent by Borrower.


More Definitions of Property Bank

Property Bank means (i) on the date hereof, Wells Fargo Bank, N.A., so long as the same remains an Eligible Institution, (ii) after the date hereof, any successor Eligible Institution designated as Property Bank from time to time in accordance with the terms hereof, or (iii) any other financial institution otherwise reasonably approved by Lender and, if a Securitization has occurred, with respect to which a rating Agency Confirmation has been obtained.
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Property Bank means those certain banks set forth on Section 2.6.1(a)(i) and any replacement Eligible Institution.
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Property Bank means Bank of Hawaii and any replacement Eligible Institution.
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Related to Property Bank

  • Property Name Property Address: Control No.: The Mortgage File should be delivered to the following: ________________________________________ ________________________________________ ________________________________________

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Property owners association" or "association" means an incorporated or unincorporated entity upon

  • DOCPROPERTY DocID" \* MERGEFORMAT 22518942.2 238213-10001

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • Property line means the division line between two units of land.

  • Property Agreements means all agreements, grants of easements and/or rights-of-way, reciprocal easement agreements, permits, declarations of covenants, conditions and restrictions, disposition and development agreements, planned unit development agreements, parking agreements, party wall agreements or other instruments affecting the Property, including, without limitation any agreements with Pad Owners, but not including any brokerage agreements, management agreements, service contracts, Space Leases or the Loan Documents.

  • Association Property means that property, real and personal, which is owned or leased by, or is dedicated by a recorded plat to, the association for the use and benefit of its members.

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Title insurance agent means an agent licensed in the Commonwealth to sell, solicit, or negotiate

  • Hotel Property means a Property on which there is located an operating hotel.

  • Property records means the records created and maintained by the contractor in support of its stewardship responsibilities for the management of Government property.

  • Real Property Assets means as to any Person as of any time, the real property assets (including interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.

  • Mortgage Borrower shall have the meaning ascribed to the term “Borrower” in the Loan Agreement (Mortgage).

  • College property means any property owned, leased, or controlled by a member college of the Virginia Community College System and the administrative office of the Virginia Community College System.

  • Property Management Agreement means any property management agreement in respect of the Property or any portion thereof entered into in accordance with the terms of this Agreement.

  • Leasehold Estate means Borrower’s interest in the Land and any other real property leased by Borrower pursuant to the Ground Lease, if applicable, including all of the following:

  • Real Estate Leases is defined in Section 4.7.

  • State property means any building, land, or other real property owned, leased, or occupied by any department, agency, or instrumentality wholly owned by the State, unless, with respect to any building, land, or other real property leased or rented by the State, the lease or rental agreement shall prohibit the establishment of such vending facilities.

  • Originating LEA An LEA who originally executes the DPA in its entirety with the Provider. Provider: For purposes of the DPA, the term “Provider” means provider of digital educational software or services, including cloud-based services, for the digital storage, management, and retrieval of Student Data. Within the DPA the term “Provider” includes the term “Third Party” and the term “Operator” as used in applicable state statutes. Student Generated Content: The term “student-generated content” means materials or content created by a student in the services including, but not limited to, essays, research reports, portfolios, creative writing, music or other audio files, photographs, videos, and account information that enables ongoing ownership of student content.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Property means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.