Tax Subaccount definition

Tax Subaccount has the meaning set forth in Section 6.1.1.
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Tax Subaccount has the meaning set forth in Section 2(i) hereof. All terms used but not otherwise defined in this Agreement shall have the same defined meanings set forth in the Loan Agreement, unless the context otherwise requires.
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Tax Subaccount shall have the meaning cert forth in Section 7.2.1(c) hereof.
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Examples of Tax Subaccount in a sentence

  • Amounts deposited from time to time into the Tax Subaccount pursuant to this Section 6.1.1 are referred to herein as the “Tax Funds”.

  • Any Tax Funds remaining in the Tax Subaccount after the Obligations have been paid in full shall be returned to Borrower.

  • Provided no Event of Default is continuing, Lender shall apply Tax Funds in the Tax Subaccount to reimburse Borrower for payments of Property Taxes made by Borrower after delivery by Borrower to Lender of evidence of such payment reasonably acceptable to Lender.

  • Furthermore, during any period while such an election is in effect, Borrower shall not be entitled to receive any release of Tax Funds from the Tax Subaccount.

  • If such an election is in effect and Lender determines that the Tax Funds in the Tax Subaccount constitute less than the amount described in the previous sentence, Lender shall notify Borrower of such determination and, commencing with the first Payment Date following Borrower’s receipt of such written notice, Borrower shall deposit into the Tax Subaccount such shortfall.

  • Notwithstanding the foregoing, in lieu of making the deposits required by Section 6.1.1, Borrower may, by written notice to Lender, elect to maintain in the Tax Subaccount an amount equal to the amount of Property Taxes payable with respect to the Properties for a period of six months.

  • Notwithstanding the foregoing, in lieu of making the deposits required by Section 6.1.1, Borrower may, by written notice to Lender, elect to maintain in the Tax Subaccount an amount equal to the amount of Property Taxes payable with respect to the Properties for a period of six (6) months.

  • Lender shall have the right to withdraw amounts on deposit in the Tax Subaccount to pay Taxes at the Property on or before the date Taxes are due and payable.

  • All interest which accrues on the funds in any Cash Management System Account (other than the Tax Subaccount and the Insurance Subaccount) shall accrue for the benefit of Borrower and shall be taxable to Borrower and shall be added to and disbursed in the same manner and under the same conditions as the principal sum on which said interest accrued.

  • Notwithstanding the foregoing, in lieu of making the deposits required by Section 6.1.1, Borrower may, by written notice to Lender, elect to maintain the Tax Subaccount at an amount equal to the amount of Property Taxes payable with respect to the Properties for a period of six (6) months.


More Definitions of Tax Subaccount

Tax Subaccount. Senior Loan Agreement
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Tax Subaccount shall have the meaning set forth in Section 2.1(a) hereof.
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Tax Subaccount has the meaning specified in Section 2(b).
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Tax Subaccount means the account established by the Paying Agent and maintained by the Cash Management Account Bank in accordance with the terms of Section 6.1.1 titled “00000000, Tax Account - Xxxxx Fargo Bank, N.A., as Paying Agent in trust for the Secured Parties” or such other account established at the Paying Agent (or any successor) as may be designated in writing from time to time by the Paying Agent to the Administrative Agent and Borrower.
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Related to Tax Subaccount

  • General Subaccount is defined in Section 8.02(a) of the Indenture.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Subaccount means any subaccount designated and established hereunder.

  • Capital Subaccount is defined in Section 8.02(a) of the Indenture.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Expense Account The account established and maintained pursuant to Section 3.25.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Subaccounts is defined in Section 8.02(a) of the Indenture.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

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

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Regular account means the account established for each active and inactive member un-

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • 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.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.