Restoration Account definition

Restoration Account means a separate account that DOI has established within the NRDAR Fund, identified as NRDA project number 0463

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Restoration Account means the bookkeeping account created by the Company for the administration of each Participant’s benefits under this Supplement A.

Restoration Account is defined in Section 6.27(c).

Examples of Restoration Account in a sentence

In the event the insurance proceeds held in the Restoration Account are insufficient to complete the restoration and repair, Trustor shall deposit in the Restoration Account an amount equal to the difference between the amount then held in the Restoration Account and the total contract price for the restoration and repair.
All funds held in the Restoration Account are hereby assigned to Beneficiary as further security for the Obligation.
In the event the amounts held in the Restoration Account exceed the cost of the restoration and repair of the damaged Trust Property, the excess funds shall be disbursed to Trustor to the extent of any amounts deposited therein by Trustor.
If Mortgagor so deposits additional funds with Mortgagee and any sum remains in the Restoration Account upon completion of restoration, such remaining sum (but not in excess of the amount deposited by Mortgagor) shall be refunded to Mortgagor if no Event of Default is then continuing.
Disbursements from the Restoration Account shall be charged first against funds deposited by Trustor and, after such funds are exhausted, against the insurance proceeds deposited therein.

More Definitions of Restoration Account

Restoration Account the interest bearing account maintained with the Lessor pursuant to Section 14(e) of the Lease and styled the "Restoration Account".

Restoration Account means a separate account that DOI has

Restoration Account means a separate account that DOI has established within the

Restoration Account means the Restoration Account established pursuant to Section 3.1.

Restoration Account means the account so designated and established under Section 2.2 on behalf of a Participant.

Restoration Account means an Eligible Account in the name of Lender, its successors and assigns, as secured party, or as may be otherwise designated by Lender, into which all Loss Proceeds, except as otherwise set forth in this Indenture, shall be deposited.

Restoration Account means, for each Participant, the book-entry account described in Section 4.01. The establishment of a Restoration Account shall not result in assets being set aside for the benefit of any individual. Immediately after the Participant's Payment Date, the balance of his Restoration Account shall be zero.