Construction Reserve Account definition

Construction Reserve Account has the meaning assigned to it in the Collateral Agency Agreement.

Construction Reserve Account means the “Construction Reserve Account” established and created in the name of the Borrower pursuant to Section 5.01.

Construction Reserve Account has the meaning set forth in the CADA.

Examples of Construction Reserve Account in a sentence

• After giving effect to such proposed Borrowing, the Construction Reserve Account shall be funded in an amount greater than or equal to the Construction Reserve Required Amount.

• Upon the establishment of the Blocked Account and the execution and delivery of the Control Agreement by all intended parties thereto, the Lender shall promptly cause the Construction Reserve Funds to be transferred into the Blocked Account, and thereafter all references herein to the Construction Reserve Account shall mean and refer to the Blocked Account.

• If, on March 1, 2007, the balance of the Construction Reserve Account is less than $150,000, the General Partner shall be obligated to make monthly deposits of $40,000 into the Construction Reserve Account until the balance of the Construction Reserve Account is no less than $150,000.

• Within 30 days of the date of this Agreement, the General Partner, on behalf of the Partnership, shall open a Construction Reserve Account with a financial banking institution.

• Each month during construction and prior to Permanent Mortgage Commencement, the Partnership shall deposit into the Construction Reserve Account, the Partnership shall deposit into the Construction Reserve Account all Cash Receipts remaining after the payment of Cash Expenses.

More Definitions of Construction Reserve Account

Construction Reserve Account has the meaning ascribed to such term in Section 4.3.

Construction Reserve Account is defined in Section 7.2. “Construction Reserve Funds” is defined in Section 2.1. “Construction Work” is defined in Section 7.1.

Construction Reserve Account is defined in Section 3.1(c).

Construction Reserve Account is defined in Section 4.01(c).

Construction Reserve Account shall have the meaning assigned to such term in the Cash Collateral and Disbursement Agreement.

Construction Reserve Account has the meaning given such term in the Amended Security Agreement.

Construction Reserve Account means the account entitled "U.S. Bank National Association as Disbursement Agent FAO Inn of the Mountain Gods Resort and Casino Construction Reserve Account" (and as further described in Recital D and on ANNEX 2 hereto) established pursuant to Section 2.2 of this Agreement at the Disbursement Agent's office located at 00 Xxxxxxxxxx Xxxxxx, St. Xxxx, Minnesota 55107-2292, which account is to be maintained by the Disbursement Agent and pledged to the Trustee pursuant to the terms of the Accounts Security Agreement. The Construction Reserve Account will initially be funded with approximately $[ ] million.