Account Party definition

Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

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Account Party has the meaning set forth in Section 2.04(a).

Account Party means the Contributor, the Responsible Individual, the Designated Beneficiary, any Designated Death Beneficiary, any contributor to the Custodial Account subsequent to the Contributor, and the respective successors, heirs and assigns of each, including any executor or administrator, considered collectively, whether referred to in the singular or the plural.

Examples of Account Party in a sentence

• If Borrowers request Issuing Bank to issue a Letter of Credit for an affiliated or unaffiliated third party (an “Account Party”), (i) such Account Party shall have no rights against Issuing Bank; (ii) Borrowers shall be responsible for the application and obligations under this Agreement; and (iii) communications (including notices) related to the respective Letter of Credit shall be among Issuing Bank and Borrowers.

• No Account Party is in violation of any such Requirements of Law or in breach of any such contract, loan agreement, indenture, mortgage, deed of trust, lease or other instrument, the violation or breach of which would be reasonably likely to have a Material Adverse Effect.

• Such application forms shall indicate the identity of the Account Party and that such Borrower is the “Applicant” or shall otherwise indicate that such Borrower is the obligor in respect of any Letter of Credit to be issued thereunder.

• Set forth as Schedule I hereto is a true, correct and complete list of each Material Subsidiary and Subsidiary Account Party, in each case designated as such, as of the date hereof.

• Said designation and appointment shall be irrevocable by each Subsidiary Account Party until all reimbursement obligations, interest thereon and all other amounts payable hereunder shall have been paid in full in accordance with the provisions hereof and thereof or, if earlier, when such Subsidiary Account Party is terminated as a Subsidiary Account Party hereunder pursuant to Section 8.11.

More Definitions of Account Party

Account Party means any of the Company and the Subsidiary Account Parties, as the context may require, and "Account Parties" means all of the foregoing.

Account Party is defined in the preamble.

Account Party means, with respect to Letters of Credit or Bank Guaranties, the U.S. Borrower or the Bermuda Borrower, as specified in the respective Letter of Credit Request (or, in the case of Existing Letters of Credit, as specified pursuant to the Original Credit Agreement) or Bank Guaranty Request (or, in the case of Existing Bank Guaranties, as specified pursuant to the Original Credit Agreement).

Account Party shall have the meaning assigned to such term in Section 2.3(d).

Account Party has failed to pay the City in accordance with the provisions of the Agreement, applicable City of Houston Ordinances, or Houston Airport System rules and regulations. Therefore, we are drawing under [issuing bank}’s letter of credit no. [reference number] in the amount of $ .” The amount which may be drawn by the City of Houston under this Letter of Credit will be automatically reduced by the amount of any drawings paid through the Issuing Bank referencing this Letter of Credit No. . Partial drawings are permitted hereunder. This Letter of Credit expires days from the date of issuance, but shall automatically extend without amendment for additional -day periods from such expiration date and from subsequent expiration dates, if the City of Houston, as beneficiary, and the Account Party have not received due notice of our intention not to extend at least 90 days before any such expiration date. We hereby agree with you that documents drawn under and in compliance with the terms of this Letter of Credit must be duly honored upon presentation as specified. This Letter of Credit shall be governed by the Uniform Customs and Practices Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500 (UCP), except to the extent that the terms hereof are inconsistent with the provisions of the UCP, including but not limited to articles 13(b) and 17 of the UCP, in which case the terms of this Letter of Credit shall govern. If an act of God, riot, civil commotion, insurrection, war, or any other cause beyond our control interrupts our business (collectively, an “Interruption Event”) and causes the place for presentation of this Letter of Credit to close for business on the last day of presentation, the expiration date of this Letter of Credit will be automatically extended without amendment to a date 30 calendar days after the place for presentation reopens for business. This Letter of Credit may not be amended, changed or modified without the express written consent of the City of Houston as the Beneficiary and the Issuing Bank. Sincerely, Name: Name: Title: Title: During the performance of this Agreement, Parking Operator, for itself, its assignees and successors in interest agrees as follows:

Account Party of each Letter of Credit. Promptly after receipt of any letter of credit application, the Issuing Lender shall confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit application and if not, the Issuing Lender will provide the Administrative Agent with a copy thereof.

Account Party as defined in the preamble to this Agreement.