Withdrawals from Borrower’s Account Sample Clauses

Withdrawals from Borrower’s Account. Amounts representing Asset Taxes Reserved Amount deposited in the Borrower’s Account pursuant to Section 2.13(a) or (b) shall be used by the Borrower solely to pay Asset Taxes. Amounts deposited in the Borrower’s Account pursuant to Section 2.13(a) or (b) in respect of Permitted Borrower Expenses shall be further transferred to the Borrower’s Administration Account and used by the Borrower solely to pay Permitted Borrower Expenses. All other amounts deposited in the Borrower’s Account may be used for any purpose permitted by this Agreement and the other Transaction Documents and shall be transferred to the Collateral Agent’s Account on any date when amounts are due and payable under Section 2.13 but only to the extent amounts otherwise on deposit in the Collateral Agent’s Account are insufficient to make such payments in accordance with Section 2.13. The proceeds of the Loans deposited in the Borrower’s Account on the Closing Date may be used by the Borrower in the amounts, and for the purposes, specified in Section 5.08(d) and (e) and shall, subject to delivery to the Administrative Agent of reasonable documentary evidence of such uses, be transferred to the Borrower’s Administration Account or paid as directed by the Borrower, by the Collateral Agent upon the receipt of written instructions from the Administrative Agent. To the extent the amount deposited in the Borrower’s Account on the Closing Date has not theretofore been used for the purposes permitted by the preceding sentence (the amount not so used, the “Unused Expense Amount”), then on the second Business Day preceding the first Payment Date, upon the receipt of written instructions from the Administrative Agent, the Collateral Agent shall cause to be transferred from the Borrower’s Account to the Collateral Agent’s Account, for application pursuant to Section 2.04(b)(vi), an amount equal to the Unused Expense Amount.
Sample 1
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Withdrawals from Borrower’s Account. Amounts representing Asset Taxes Reserved Amount deposited in the Borrower’s Account pursuant to Section 2.13(a) or (b) shall be used by the Borrower solely to pay Asset Taxes. Amounts deposited in the Borrower’s Account pursuant to Section 2.13(a) or (b) in respect of Permitted Borrower Expenses shall be further transferred to the Borrower’s Administration Account and used by the Borrower solely to pay Permitted Borrower Expenses. Amounts deposited in the Borrower’s Account representing the Net Cash Proceeds from a Permitted Excluded Shares Disposition shall be used by the Borrower solely to pay in full any amounts due on account of any Additional Seller Subordinated Debt incurred by the Borrower to purchase the Excluded Shares so disposed of. All other amounts deposited in the Borrower’s Account may be used for any purpose permitted by this Agreement and the other Transaction Documents and shall be transferred to the Collateral Agent’s Account on any date when amounts are due and payable under Section 2.13 but only to the extent amounts otherwise on deposit in the Collateral Agent’s Account are insufficient to make such payments in accordance with Section 2.13. Credit Agreement
Sample 1

Related to Withdrawals from Borrower’s Account

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

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