Balancing Deposit definition

Balancing Deposit means an Interest Balancing Deposit, a Non-Interest Balancing Deposit, or a Proton System Balancing Deposit, as applicable.

Balancing Deposit has the meaning provided in Section 4.4 of this Agreement.

Balancing Deposit means a payment made or arranged by a Loan Party to cure or avoid a Balancing Event. ​ Ex 10.274

Examples of Balancing Deposit in a sentence

• Upon the occurrence of an Event of Default, Lender may (but shall have no obligation to) apply all or any part of any Balancing Deposit then held by Lender against the unpaid Obligations in such order as Lender determines.

• The proceeds of any Balancing Deposit shall be disbursed by Lender for the payment of Project Costs in accordance with terms and conditions of this Section 2.8 applicable to Advances under the Loan, and Lender shall not be obligated to make any Advance under the Loan until such time as the proceeds of any Balancing Deposit shall have been fully disbursed.

• Borrower hereby grants and conveys to Lender a security interest in the Balancing Deposit as additional security for the Obligations.

• Prior to disbursing any Advance under the Loan, Lender may advance all or a portion of the Balancing Deposit in payment of construction and non-construction costs.

• Upon the occurrence of an Event of Default, Lender may (but shall have no obligation to) apply all or any part of the Balancing Deposit against the unpaid Obligations in such order as Lender determines.

More Definitions of Balancing Deposit

Balancing Deposit has the meaning in Section 2.02(e). ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ ​

Balancing Deposit is defined in Section 5.6(c) of the Construction Agency Agreement.