Deficiency Account definition

Deficiency Account has the meaning set forth in the Mortgage Loan Agreement “Deficiency Collateral” has the meaning set forth in Section 2.1.12(b) hereof. “Design Drawings” means the drawings and outline specifications that illustrate and describe the refinement of the design of the Required Improvements, establishing the scope, relationships, forms, size, materials, systems and appearance of the Required Improvements by means of plans, sections and elevations, typical construction details and equipment layouts. “Design Professionals” means, collectively, all architects, engineers, consultants, and similar professionals retained by or on behalf of Borrower or Mortgage Borrower or their respective Affiliates in connection with the design of the Project (including the Architect), all of which shall be licensed professionals in the State (if so required by the Legal Requirements) and shall be subject to approval by Lender prior to such engagement in connection with the Project, not to be unreasonably withheld, conditioned or delayed. Lender has approved the Design Professions listed on Schedule IV. “Determination Date” means, with respect to any determination of the Applicable Rate Index applicable to an Interest Accrual Period, the date that is two (2) U.S. Government Securities Business Days preceding the first day of the applicable Interest Accrual Period. “Downgraded Counterparty” means a counterparty to an Interest Rate Cap Agreement, or the guarantor of such counterparty’s obligations under an Interest Rate Cap Agreement that has a long-term unsecured debt rating of “A-“ or lower by S&P and “A3” or lower from Moody’s. “Draw Request” has the meaning set forth in Section 2.1.5(a) hereof. “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority; (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

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Deficiency Account. Deficiency Cash Collateral" - 3.7(a)(iii) "Deficiency Letter of Credit" - 3.7(a)(iii) "Event of Default" - 8.1 "Lead Lender" - 9.14(b)(i) "Loan" - 2.1 "Line Item Component" - 3.6(a)(i) "Other Loans" - 9.29

Deficiency Account. The interest-bearing account established and maintained by Administrative Agent at Citibank, N.A., which shall be entitled “Citibank, N.A., as administrative agent for certain secured lenders of Metropolitan Pier and Exposition Authority Deficiency Account” and into which all Deficiency Deposits shall be made.

Examples of Deficiency Account in a sentence

In order to provide everyone with a better understanding of the meaning, the following definitions are offered: SURPLUS REVENUE: (Sometimes referred to as Excess and Deficiency Account).
If the Trustee establishes a new Pre-Funding Period Interest Deficiency Account, it shall transfer all cash and investments from the non-qualifying Pre-Funding Period Interest Deficiency Account into the new Pre-Funding Period Interest Deficiency Account.
All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Pre-Funding Period Interest Deficiency Account shall be deemed to be on deposit therein and available for distribution.
Initially, the Pre-Funding Period Interest Deficiency Account will be established with U.S. Bank National Association.
The Pre-Funding Period Interest Deficiency Account shall be an Eligible Deposit Account; provided that, if at any time such account is not an Eligible Deposit Account, then the Trustee shall, within five (5) Business Days, notify the Issuers and the Surety Provider and establish a new Pre-Funding Period Interest Deficiency Account that is an Eligible Deposit Account.
Until expended or applied as provided herein, any amounts in the Deficiency Account, together with any interest thereon, shall constitute additional security for the Obligations.
USF shall instruct in writing the institution maintaining the DSCR Deficiency Account to invest funds on deposit in the DSCR Deficiency Account from time to time in Permitted Investments (by standing instruction or otherwise); provided, however, that any such investment shall mature or be payable or redeemable upon demand not later than the Business Day prior to the Payment Date following the date on which such funds were received and such funds shall be available for withdrawal on such Payment Date.
Subject to the foregoing, if on any Determination Date after the occurrence of a DSCR Deficiency Event such DSCR Deficiency Event no longer exists, on the Related Payment Date the Administrator shall instruct the Trustee to, and the Trustee shall, upon receipt of written instructions from the Administrator, withdraw from the DSCR Deficiency Account an amount equal to the Available DSCR Deficiency Account Amount for such Payment Date for payment at the direction of the Issuers.
The DSCR Deficiency Account shall be an Eligible Deposit Account; provided that, if at any time such account is not an Eligible Deposit Account, then the Trustee shall, within five (5) Business Days, notify the Issuers and the Surety Provider and establish a new DSCR Deficiency Account that is an Eligible Deposit Account.
The Request for Advance shall also include a request for any disbursements from the Deficiency Account, with supporting documentation describing in reasonable detail the basis for any such disbursements.

More Definitions of Deficiency Account

Deficiency Account has the meaning set forth in the Mortgage Loan Agreement.

Deficiency Account has the meaning set forth in Section 4.5(b) hereof.

Deficiency Account means the account by that name in the Common Bond Fund created and established by Section 402 of the Basic Resolution;