Casualty Account definition

Casualty Account has the meaning stated in Section 10.7(b).

Casualty Account has the meaning stated in Section 10.8(b).

Casualty Account shall have the meaning set forth for such term in SECTION [2.2(a)] of the Amended Security Deposit Agreement.

Examples of Casualty Account in a sentence

• All Casualty Proceeds and Condemnation Awards (both as defined in the Indenture, and which are collectively defined in the Indenture as "Available Proceeds") shall be remitted and paid to the Trustee by the Lessee, the Lessor or ADESA, as applicable, for deposit in the Casualty Account (as defined and established under the Indenture) for disbursement, all as provided for in Section 6.3 of the Indenture.

• Any proceeds or other amounts received by the Collateral Trustee, whether pursuant to an insurance policy, as a requisition payment or otherwise, in connection with the occurrence with respect to any Vessel of a casualty or certain other events specified in the Indenture, will be deposited into the Casualty Account and invested in Permitted Investments until such funds are disbursed by the Collateral Trustee in accordance with the Indentures, the Collateral Agreement and the related Security Documents.

• Within the Risk Management Revolving Fund, there is hereby created the Property and Casualty Account, the Motor Vehicle Liability Account and the General Tort Liability Account.

• Any interest or other earnings accrued on any balances in the Casualty Account, or on any investment thereof, shall be credited to and accumulated in the Casualty Account and thereafter be applied without differentiation from other funds in the Casualty Account.

• If, notwithstanding such instructions, the Borrower should receive any such payment, the Borrower shall hold such payment in trust for the Collateral Agent and shall promptly deliver such payment to the Collateral Agent for deposit into the Casualty Account in the exact form received with any necessary endorsement.

More Definitions of Casualty Account

Casualty Account means the account established pursuant to Section 301 of the ICF Indenture.

Casualty Account. The account established pursuant to Section 301 of the ICF Indenture.

Casualty Account means the account established and maintained by the Collateral Trustee into which any insurance proceeds or other payments in connection with the occurrence of a Total Loss to any Vessel then subject to an Initial Charter that has not reached its first optional termination date shall be deposited in accordance with the related Mortgage.

Casualty Account means the casualty account of the Borrower maintained pursuant to Article IV hereof by the Collateral Agent with Citibank's office at 100 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Account No.30000000, ABA No. 02100008-9, FBO A/C 103561 Northeast, Attention: Oxxxxx Xxxxx.

Casualty Account means the account established and maintained by the Collateral Agent pursuant to Section 3.1(f).

Casualty Account means the account established and maintained by

Casualty Account means the account established and maintained by the Collateral Trustee into which any insurance proceeds or other payments in connection with the occurrence of a Total Loss to any Vessel shall be deposited in accordance with the related Mortgage.