Construction Disbursement Account definition

Construction Disbursement Account means the account so designated in Schedule 6 (Accounts).
Construction Disbursement Account means the construction disbursement 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 approximately $111.5 million of the net proceeds of the Offering will be deposited.
Construction Disbursement Account shall have the meaning assigned to such term in the Disbursement Agreement.

Examples of Construction Disbursement Account in a sentence

  • The Debtors sought declaratory relief to require U.S. Bank, in its dual roles as the Indenture Trustee and the Disbursement Agent, to disburse $11.5 million from the Construction Disbursement Account for payment of construction expenses for work performed before Hurricane Katrina.

  • After giving effect to the required disbursements from the Construction Disbursement Account, there are sufficient Available Construction Funds to pay for the anticipated costs described in Paragraphs (g) and (h) above, and any other material expenses the Issuer reasonably believes will need to be incurred by the Issuer in order to cause the Initial Operating Date to occur on or prior to [December 31, 2005].

  • On October 7, 2005, the Disbursement Agent denied the request on the ground that the Insurance Proceeds were subject to the lien of the Noteholders.57 Then, on October 17, 2005, the Debtors requested that $1.2 million of Insurance Proceeds be transferred into the Construction Disbursement Account.

  • The Disbursement Agent denied this request but allowed the Debtors access to $1.2 million of funds that remained in the Construction Disbursement Account for payment of the remediation work on the Resort.58For payment of pre-Hurricane Katrina constructions expenses, the Debtors submitted on or about October 12, 2005, Construction Disbursement Request No. 19 to the Disbursement Agent pursuant to § 4.2.2 of the Disbursement Agreement.

  • The initial payments pursuant to this Section 3.3 shall be made as promptly as practicable following the initial deposits into the Construction Disbursement Account but prorated for the partial month.


More Definitions of Construction Disbursement Account

Construction Disbursement Account means the construction disbursement account to be maintained by the Disbursement Agent and pledged to the Trustee pursuant to the terms of the Cash Collateral and Disbursement Agreement.
Construction Disbursement Account has the meaning specified in the Depositary Agreement.
Construction Disbursement Account shall have the meaning assigned to such term under subsection 2(c).
Construction Disbursement Account has the meaning set forth in Section 1.11.
Construction Disbursement Account means account number 2952754998 in the name of OpCo established at JPMorgan Chase Bank, N.A. or such other account in replacement or substitution thereof.
Construction Disbursement Account in the case of Project Linq, means account number [Redacted] in the name of Linq Borrower established as of the date hereof at JPMorgan Chase Bank, N.A. or such account in replacement or substitution thereof, and in the case of Project Octavius, means account number [Redacted] in the name of Octavius Borrower established as of the date hereof at JPMorgan Chase Bank, N.A. or such account in replacement or substitution thereof.
Construction Disbursement Account means a special account maintained with the Trustee, Account No. 33614, in the name of RIHC but under the sole dominion and control of the Trustee hereunder and subject to the terms of the Security Agreement and this Agreement.