Account Lessee definition

Account Lessee means any Person that is an obligor in respect of any Lease.
Sample 1Sample 2Sample 3
Account Lessee means any Person that is an obligor in respect of any Lease. “Adjusted Current Lease Balance” shall mean for each Lease, (a) if the ratio of the Original Net Lease Cost to Lease Cost is equal to or greater than ninety percent (90%), the Current Lease Balance, and (b) if the ratio of the Original Net Lease Cost to Lease Cost is less than ninety percent (90%), the lesser of (i) the Original Net Lease Cost and (ii) the Current Lease Balance.
Sample 1

Examples of Account Lessee in a sentence

  • The fire was severe, with ef = 750 MJ/m2 floorarea, restricted ventilation and light-weight concrete used in the floor slabs.

  • All Scheduled Payments, interest, principal, prepayments (both voluntary and mandatory), and other amounts received of any and every description payable to Borrower by or on behalf of such Account Lessee pursuant to the applicable Lease, the related Portfolio Documents, or any other related documents or instruments with respect to the Leases pledged as Collateral for the Revolving Advances shall be paid directly to the Collateral Account.

  • Borrower shall not, and shall cause Servicer to not, make any change in the instructions to any Account Lessee on any Lease with respect to any instructions to such Account Lessees regarding payment to be made to the Collateral Account or any Servicer Physical Payment Address.

  • Notwithstanding anything to the contrary in this Section 6.15, Borrower hereby authorizes Agent, at any time after the occurrence of an Event of Default, to send directions to each Account Lessee to make payments directly to the Collateral Account.

  • At any time after the occurrence and during the continuance of an Event of Default, Agent shall have the right to notify any Account Lessee to mail or otherwise deliver payments directly to an address determined by Agent or to otherwise deposit such sums in the Collateral Account or any other deposit account established by Agent from time to time.

  • Operating Reserves Account: Lessee will pay into an Operating Reserve Account the amount of $112 per month.

  • Operating Reserves Account: Lessee will pay into an Operating Reserve Account the amount of $1 12 per month.

  • In addition to the FF&E Reserve Account and the Escrow Account, Lessee shall establish and maintain, or shall cause the Operator to establish and maintain in the name of and for the benefit of the Hotel, adequate reserve accounts for the payment of all Impositions, insurance premiums, deferred maintenance, and capital repairs, replacements and improvements as shall be required to ensure the continued operation of the Hotel as a Luxury Hotel for the full Term of this Lease.

  • Without limiting Lessee’s covenant under Section 18.3(h), prior to entering into any future financing in which the related secured party shall have a blanket Lien or a specific Lien on the New Account, Lessee must deliver to Lessor a letter, in the form of Exhibit A attached hereto, from the related secured party.

  • Borrower and Servicer each agree and covenant that it shall: Instruct or cause all Account Lessees to be instructed to either: send all Scheduled Payments directly to the Collateral Account; or in the alternative, make Scheduled Payments by way of pre-authorized debits from a deposit account of such Account Lessee pursuant to a PAC or from a credit card of such Account Lessee pursuant to a Credit Card Account from which Scheduled Payments shall be electronically transferred to the Collateral Account.

Related to Account Lessee

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Security Deposit Account has the meaning given in Section 5.1.

  • Account Bank means any of them.

  • 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.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Account Owner means a telecommunications company, including SBC-13STATE, that stores and/or administers Line Record Information and/or Group Record Information in a Party’s LIDB and/or Calling Name Database.

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Designated Account Bank has the meaning specified therefor in Schedule D-1.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Dominion Account a special account established by Borrowers at Bank of America or another bank acceptable to Agent, over which Agent has exclusive control for withdrawal purposes.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Direct Account : means any Account which is not an ISA Account.

  • Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Primary Account or “Settlement Account” shall mean, in case of multiple Accounts linked to the ATM/Debit Card, the Account that has been designated as being the main/first Account of operation i.e. the Account from which purchase transactions, charges and fees related to the ATM/Debit Card are debited.

  • Private Account means the portion of a portfolio of a private client or mutual fund client for which the Adviser serves as investment adviser or subadviser.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Collection Accounts As defined in Section 3.10(a).

  • Collection Account Control Agreement means the Amended and Restated Collection Account Control Agreement, dated as of the date hereof, among the Borrower, the Servicer, the Administrative Agent and the Collection Account Bank, substantially in the form of Exhibit D-3 hereto, as amended, modified or supplemented from time to time.

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.