Balancing Deposits Sample Clauses

Balancing Deposits. Within 10 days after written notice from Administrative Agent that the Loans are not “in balance,” and prior to any subsequent Advance, Borrower shall deposit or cause to be deposited sufficient funds with Collateral Agent to bring the Loans “in balance” as determined by Administrative Agent. Any amounts so deposited will be held by Collateral Agent in Construction Account – Building Loan under the Collateral Account Pledge Agreement. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(i) or 2.06(a)(ii)(A) above (a “Non-Interest Balancing Deposit”) shall be disbursed for the payment of Project Costs (other than interest on the Loans) before any additional Advances are made for such Project Costs. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(ii) above (an “Interest Balancing Deposit”) shall be disbursed for the payment of interest on the Loans before any additional Advances are made therefor. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(iii) above (a “Proton System Balancing Deposit”) shall be held in the Facility Lessee Construction Account and disbursed for the payment of amounts due on the Proton System Purchase Agreement. Disbursements of Balancing Deposits shall be subject to the same conditions as would be applicable to an Advance hereunder. Upon the occurrence and during the continuance of a Default, Administrative Agent may apply all or any portion of any Borrower Balancing Deposit (including accrued interest thereon) to the payment of the Obligations or any Project Costs. Borrower shall have the right to deliver an irrevocable standby letter of credit to Administrative Agent in the amount of any required Balancing Deposit in lieu of depositing cash therefor so long as such letter of credit (i) is issued by a Qualified Financial Institution, (ii) permits draws upon delivery of sight drafts by Administrative Agent in order to facilitate the disbursements contemplated hereby in the same manner as if cash were deposited with Administrative Agent for the required Balancing Deposit, and (iii) is otherwise in form and substance satisfactory to Administrative Agent. In the event Administrative Agent makes a demand for a Balancing Deposit hereunder as a result of a casualty or condemnation, any insurance or condemnation proceeds held by Administrative Agent and available for disbursement for construction or reconstruction in accordance with Section 7.01(g) and Sectio...
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Balancing Deposits. Within 10 days after written notice from Administrative Agent that the Loans are not “in balance,” and prior to any subsequent Advance, Borrower shall deposit or cause to be deposited sufficient funds with Collateral Agent to bring the Loans “in balance” as determined by Administrative Agent. Any amounts so deposited will be held by Collateral Agent in Construction Account – Project Loan under the Collateral Account Pledge Agreement. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(i) or 2.06(a)(ii)(A) above (a “Non-Interest Balancing Deposit”) shall be disbursed for the payment of Project Costs (other than interest on the Loans) before any additional Advances are made for such Project Costs. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(ii) above (an “Interest Balancing Deposit”) shall be disbursed for the payment of interest on the Loans before any additional Advances are made therefor. Any amounts so deposited to correct a deficiency described in Section 2.06(a)(iii) above (a “Proton System Balancing Deposit”) shall be held in the Facility Lessee Construction Account and disbursed for the payment of amounts due on the Proton System Purchase Agreement. Disbursements of Balancing Deposits shall be subject to the same conditions as would be applicable to an Advance
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Related to Balancing Deposits

  • Time Deposits Without prejudice to any right of set-off any Finance Party may have under any other Finance Document or otherwise, if any time deposit matures on any account the Chargor has with any Finance Party within the Security Period when:

  • Interest Bearing Deposits Upon receipt of Proper Instructions directing the Custodian to purchase interest bearing fixed term and call deposits (hereinafter referred to collectively, as "Interest Bearing Deposits") for the account of the Fund, the Custodian shall purchase such Interest Bearing Deposits in the name of the Fund with such banks or trust companies (including the Custodian, any Subcustodian or any subsidiary or affiliate of the Custodian) (hereinafter referred to as "Banking Institutions") and in such amounts as the Fund may direct pursuant to Proper Instructions. Such Interest Bearing Deposits may be denominated in U.S. Dollars or other currencies, as the Fund may determine and direct pursuant to Proper Instructions. The Custodian shall include in its records with respect to the Assets of the Fund appropriate notation as to the amount and currency of each such Interest Bearing Deposit, the accepting Banking Institution and all other appropriate details, and shall retain such forms of advice or receipt evidencing such account, if any, as may be forwarded to the Custodian by the Banking Institution. The responsibilities of the Custodian to the Fund for Interest Bearing Deposits accepted on the Custodian's books in the United States shall be that of a U.S. bank for a similar deposit. With respect to Interest Bearing Deposits other than those accepted on the Custodian's books, (a) the Custodian shall be responsible for the collection of income as set forth in Section 2.15 and the transmission of cash and instructions to and from such accounts; and (b) the Custodian shall have no duty with respect to the selection of the Banking Institution or, so long as the Custodian acts in accordance with Proper Instructions and the terms and conditions of this Agreement, for the failure of such Banking Institution to pay upon demand. Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the Fund deems necessary or appropriate to cause each such Interest Bearing Deposit account to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Advance Deposits All prepaid rentals, room rental deposits, and all other deposits for advance registration, banquets or future services to be provided on and after the Closing Date shall be credited to Buyer.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Cash Deposits Within the limitations of this Subsection, Purchaser shall make cash deposits to meet Purchaser’s obligations within 15 days of billing by Forest Service. Deposits shall be made to Forest Service, U.S.D.A., by mail or delivery to the address to be fur- nished by Forest Service. Forest Service shall explain the bill at the time it requests each deposit.

  • Custodial Accounts It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

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