Operating Account definition

Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

Operating Account shall have the meaning set forth in Section 2.7(a).

Operating Account has the meaning set forth in Section 2.09(b).

Examples of Operating Account in a sentence

• Agent shall secure and credit to the General Operating Account all discounts, rebates, or commissions obtainable with respect to purchases, service contracts, and all other transactions on Sponsor's behalf.

• Agent shall be compensated for its services under this contract by a monthly fee to be paid out of the General Operating Account.

• Such receipts shall be deposited in the General Operating Account.

• These accounts shall be the General Operating Account, the Replacement Reserve Account, the Security Deposit Account, the Operating Reserve Account (which may be a sub-account within the General Operating Account), and any other accounts be required by the Regulatory Agreement.

• The General Operating Account shall contain the gross operating receipts received by the Agent or Sponsor and/or its representatives pursuant to Paragraphs 9 and 26 of this contract.

More Definitions of Operating Account

Operating Account. Is defined in Section 7-3.

Operating Account. Defined in Section 7.3(a)(iii).

Operating Account is defined in Section 1.3(a), and maintained in accordance with the terms of Xxxxx Fargo’s Commercial Account Agreement in effect for demand deposit accounts.

Operating Account means the account that you normally use for the day-to-day cash needs of your business, and may be either or both of a Canadian dollar and a U.S. dollar account.

Operating Account has the meaning given to such term in Section 3 hereof.

Operating Account means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.

Operating Account shall have the meaning set forth in Section 5.4.1.1.