Approved Escrow Account definition

Approved Escrow Account. As defined in the Inventory Loan Agreement.
Sample 1
Approved Escrow Account means, with respect to any Xxxxxxx Money received by the Escrow Agent made pursuant to a Qualified Sales Agreement, that certain escrow trust account at a commercial bank or trust company selected by Borrower and acceptable to Agent, provided that the escrow agent for each consummation of a Qualified Sales Agreement (the “Escrow Agent”) and such bank or trust company shall have acknowledged and agreed in a writing that, upon the disbursement of the Xxxxxxx Money by the Escrow Agent to or for the benefit of the Borrower, pursuant to the terms of the applicable Qualified Sales Agreement (in accordance with the terms of such Qualified Sales Agreement), the Xxxxxxx Money on deposit in such escrow account pursuant to the applicable Qualified Sales Agreement will be paid directly to the Company’s Operating Account, in accordance with the terms and provisions of this Agreement. The escrow account maintained with Chicago Title Insurance Company is hereby approved by Agent as the Approved Escrow Account, and Chicago Title Insurance Company is hereby approved as the Escrow Agent.
Sample 1
Approved Escrow Account means an escrow account funded with the Draw Proceeds for an Approved FixNFlip Loan, which is managed by Seller, used for holding and disbursing of such Draw Proceeds.
Sample 1

Examples of Approved Escrow Account in a sentence

  • For Approved FixNFlip Loans, an Approved Escrow Account has been established and fully funded with the Draw Proceeds in an amount sufficient to complete the rehabilitation of the Mortgaged Property in compliance with the Underwriting Guidelines.

  • These dynamics could also trigger more efficient energy demand and electricity consumption in post- pandemic times [33].


More Definitions of Approved Escrow Account

Approved Escrow Account means an escrow or other dedicated account established and maintained by the Borrower with the Administrative Agent in respect of which account (a) the Borrower shall maintain immediately available funds in such account in an amount not less than $150,000,000 minus the Committed Amount then in effect, (b) distributions shall solely be used for the purposes specified in Section 7.9, (c) the Administrative Agent shall have received evidence satisfactory to it that all funds maintained in such account shall have been received by the Borrower from the Parent pursuant to a capital contribution or unsecured subordinated intercompany loan on terms and conditions (including, without limitation, maturity, amortization and subordination) acceptable to the Administrative Agent, and (d) all funds maintained in such account shall be invested or maintained in a manner acceptable to the Borrower and the Administrative Agent.
Sample 1

Related to Approved Escrow Account

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Escrow Accounts means a SEK bank account and/or EUR bank account and/or a NOK bank account opened by the Arranger with a reputable bank on which the proceeds from the Bond Issue will be held until the Conditions Precedent for Disbursement have been fulfilled.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

  • 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.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Initial Reserve Account Deposit means $3,000,000.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.