Draw Account definition

Draw 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.
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Draw Account means the account created and maintained as such by the Trustee pursuant to Section 6.1(d) hereof.
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Draw Account shall have the meaning assigned to such term in the Disbursement Agreement.
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Examples of Draw Account in a sentence

  • We reserve the right to temporarily suspend the Bill Payment Service in the event that there are insufficient funds in your Draw Account to pay your scheduled bill payments.

  • Draw Account refers to the account that funds will be withdrawn from.

  • If the transfer funds are not available in the Draw Account for any reason, the entire transaction will be either canceled or reversed from the applicable account(s).

  • Concurrently with the execution and delivery of this Agreement, the Borrowers shall enter into an Account Control Agreement pursuant to which the account bank thereunder shall establish and maintain a separate Draw Account for each Project.

  • The Borrowers shall cause the Draw Account for a Project to be maintained at all times until such Draw Account is permitted to be closed in accordance with Section 4.5. From time to time, the Disbursement Agent shall deposit De Minimus Draws in the applicable Draw Accounts pursuant to Section 4.2, provided that in no event shall a De Minimus Draw be so deposited if it, when combined with any amounts remaining in both Draw Accounts, would exceed $5,000,000 in the aggregate.

  • Subject to the terms of the Account Control Agreement, the Borrowers, and, if the Borrowers provide appropriate instruction therefor to the account bank, the Construction Manager shall be permitted from time to time to draw checks on and otherwise withdraw amounts on deposit in a Draw Account to pay Permitted Fund Uses, including without limitation, Project Costs for the related Project.

  • Each Borrower shall have the right from time to time, no more frequently than monthly, to submit to the Disbursement Agent a written request for the disbursement of funds from the Loan Proceeds Account to the Draw Account for such Borrower’s Project (“De Minimus Draw Request”).

  • If Guarantor elects to proceed under clause (a) of this Paragraph, then Guarantor shall have the right, so long as it is diligently performing its obligations under this Guaranty, to draw any remaining funds in the Company Account, the Loan Proceeds Account, the Construction Disbursement Account and the Draw Account in accordance with the terms of the Loan Documents as if it were the Borrower thereunder and no Event of Default existed.

  • The amount of the Reserve Draw Account deposited in the Collection Account on the related Transfer Date to be treated as Class B Available Funds....................................................

  • The Collateral Agent shall hold all CA- Held Collateral in the Draw Account subject to the Collateral Agent's Security Interest and pursuant to the terms of this Agreement, the Margin Funding Facility Agreement and the Master Security Agreement.


More Definitions of Draw Account

Draw Account means account number #-###-####-####, in the name of the Borrower, established as of the date hereof at the applicable Account Bank, or such account in replacement or substitution thereof.
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Draw Account means an account established and maintained by the Purchaser at the Escrow Agent or any other account designated by the Purchaser to be used to fund purchases of Policies pursuant to Section 7.4.
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Related to Draw Account

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

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

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

  • 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.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.