Designated Proceeds Account definition

Designated Proceeds Account means the account of Company held with Citibank, N.A. from time to time, the proceeds of which have been designated by Company to be used for the satisfaction in whole or in part of (a) the Repurchase Obligation or (b) the refinancing of any Indebtedness under Section 6.1(c), in each case with any excess proceeds remaining in such account following the Company’s satisfaction of such Indebtedness or portion thereof being refinanced, to be paid to the Company upon its written request to the Administrative Agent; provided that the Company is in pro forma compliance with the covenants set forth in Section 6.7 immediately prior to and immediately following such payment to it.
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Designated Proceeds Account means the account of Company held with Citibank, N.A., the proceeds of which have been designated to be used for the satisfaction in whole or in part of the Repurchase Obligation (with any excess proceeds remaining in such account following the Company's satisfaction in part of the Repurchase Obligation in an amount equal to not less than $300.0 million to be paid to Company upon its written request to the Administrative Agent; provided that Company is in pro forma compliance with the covenants set forth in Section 6.7 immediately prior to and immediately following such payment to it).
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Designated Proceeds Account means the account of Company held with (a) Bank of America, N.A. and (b) any other financial institution to the extent that such account is subject to a control agreement in favor of the Collateral Agent, in each case from time to time, the proceeds of which have been designated by Company to be used in the case of clause (a) for the refinancing in whole or in part of the Senior Secured Notes and otherwise for the refinancing in whole or in part of any Indebtedness under Section 6.1(c), in each case with any excess proceeds remaining in such account following the Company’s satisfaction of such Indebtedness or portion thereof being refinanced, to be paid to the Company upon its written request to the Administrative Agent; provided that the Company is in pro forma compliance with the covenants set forth in Section 6.7 immediately prior to and immediately following such payment to it.
Sample 1

Examples of Designated Proceeds Account in a sentence

  • The proposed Trail may pass through or in close proximity to the Town.

Related to Designated Proceeds Account

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Excess Liquidation Proceeds Account The segregated account (or the sub-account of the Distribution Account) created and maintained by the Certificate Administrator on behalf of the Trustee pursuant to Section 3.04(d) for the benefit of the Certificateholders, which shall be entitled “Xxxxx Fargo Bank, National Association [or the name of any successor Certificate Administrator], as Certificate Administrator on behalf of Wilmington Trust, National Association [or name of any successor Trustee], as Trustee, for the benefit of the registered holders of WFRBS Commercial Mortgage Trust 2014-C22, Commercial Mortgage Pass-Through Certificates, Series 2014-C22, Excess Liquidation Proceeds Account”.

  • Escrowed Proceeds shall include any interest earned on the amounts held in escrow.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Excluded Proceeds means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Holding Account means an account:

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Series Account means any deposit, securities, trust, escrow or similar account maintained for the benefit of the Investor Certificateholders of any Series or Class, as specified in any Supplement.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.