Borrower Operating Account definition
Borrower Operating Account means the account of the Borrower specified on Schedule H hereto.
Borrower Operating Account means the account of the Borrower which is identified by account number 4229995642 and ABA number ▇▇▇▇▇▇▇▇▇.
Borrower Operating Account means the segregated account or accounts established by the applicable Pledgor at the Operating Account Bank exclusively for the benefit of Borrowers (and, with respect to Security Deposits, Tenants to the extent required under applicable law) into which (i) Income received with respect to the Financed Rental Properties, (ii) all taxes and insurance escrow amounts for the Financed Rental Properties, and (iii) all Security Deposits with respect to the Financed Rental Properties, will be deposited and held, and which shall be subject to an Operating Account Control Agreement.
Examples of Borrower Operating Account in a sentence
Borrower has no accounts other than the Borrower Operating Account.
Neither Borrower nor Subsidiary Guarantor shall (a) distribute Rents or any other revenue from any Individual Property, any Net Sales Proceeds, or any Proceeds in violation of the provisions of this Agreement or the Cash Management Agreement, as applicable, (b) misappropriate any security deposit or portion thereof, (c) misapply the proceeds of the Loan, (d) reserved, (e) misapply any disbursements from the Reserve Accounts, or (f) misapply any funds disbursed to or from the Borrower Operating Account.
Other than the Borrower Operating Account, neither Borrower nor Subsidiary Guarantor shall open or maintain any account.
More Definitions of Borrower Operating Account
Borrower Operating Account means the Borrower Operating Account established under the Collateral Account Pledge Agreement into which proceeds of the Loans hereunder will be deposited, unless directed to the Borrower Construction Account by the Administrative Agent.
Borrower Operating Account means an account specified to Lender by Borrower in writing from time to time as Borrower’s operating account.
Borrower Operating Account means the account with SMBC in the name of Borrower to be created pursuant to and in accordance with the Account Control Agreement.
Borrower Operating Account means the deposit account maintained by Account Bank in the name of the Borrower in accordance with the terms of this Agreement, the Borrower Security Agreement and the Borrower Operating Account Control Agreement.
Borrower Operating Account shall have the meaning set forth in Section 2.6.1(a)(v).
Borrower Operating Account means the Cash Collateral Account identified as the “Borrower Operating Account” in Section 7.16(a) and any replacement Cash Collateral Account with a Deposit Bank that is, or whose holding company is, rated at least BBB- by S&P and at least Baa3 by ▇▇▇▇▇’▇ requested by the Borrower and reasonably acceptable to the Administrative Agent and the Collateral Agent.
Borrower Operating Account means that certain bank account maintained by Borrower with Amegy Bank, ABA #113011258 to Account #3669696.