Completion Reserve Account definition

Completion Reserve Account means account no. 00000000 established and maintained by the Paying Agent pursuant to Section 2.17 in the name of the Borrower Representative and entitled “Xxxxx Fargo Bank, N.A., as Paying Agent, in trust for the Borrowers – Completion Reserve Account # 00000000” or such other account established at the Paying Agent (or any successor) as may be designated in writing from time to time by the Administrative Agent.
Sample 1Sample 2Sample 3
Completion Reserve Account means the completion reserve account to be maintained by the Disbursement Agent and pledged to the Trustee pursuant to the terms of the Cash Collateral and Disbursement Agreement, into which $5.0 million of the proceeds of the Offering will be deposited.
Sample 1
Completion Reserve Account has the meaning set forth in the Disbursement Agreement.
Sample 1Sample 2

Examples of Completion Reserve Account in a sentence

  • On the Closing Date, the Borrowers deposited with the Paying Agent funds in the amount of Three Million Dollars ($3,000,000.00) (the “Completion Reserve”), which amount was transferred to the Completion Reserve Account.

  • The Borrower may direct the Administrative Agent regarding investment of funds contained in the Completion Reserve Account in Cash Equivalents.

  • Warrants related to the Completion Reserve Account that are issued by the Borrower or any Affiliate thereof to any Lender or the Administrative Agent shall be fully exercisable within the time period described in Section 1.3.4(c) of the Disbursement Agreement.

  • The Borrower hereby grants a security interest to the Administrative Agent in the Completion Reserve Account to secure the Obligations.

  • On the Term-Conversion Date, the Completion Reserve Borrowing shall be deposited into the Completion Reserve Account.


More Definitions of Completion Reserve Account

Completion Reserve Account shall have the meaning assigned to such term under subsection 2(c).
Sample 1Sample 2
Completion Reserve Account means the segregated account of Texas Resort Owner for completion of the Project pursuant to the Senior Loan Agreement.
Sample 1Sample 2
Completion Reserve Account has the meaning given in Section 5.3(g) of the Depositary Agreement.
Sample 1Sample 2
Completion Reserve Account is defined in Section 2.21.
Sample 1
Completion Reserve Account has the meaning specified in the Depositary Agreement.
Sample 1
Completion Reserve Account means a special account maintained with the Pledged Account Bank, Account No. 122884-010, in the name of HCS but under the sole dominion and control of the Disbursement Agent as agent for the Trustee hereunder and subject to the terms of the Security Agreement, this Agreement, and a Control Agreement.
Sample 1
Completion Reserve Account has the meaning assigned to such term in the Construction Period Depositary Agreement.
Sample 1