General Operating Account definition

General Operating Account means a depositary account in the name of a Borrower maintained at a General Operating Account Bank.
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General Operating Account. The account, designated as such, established and maintained pursuant to Section 8.03 of the Sale and Servicing Agreement.
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General Operating Account has the meaning set forth in Section 5.1. "Indemnified Person" shall have the meaning set forth in Section 4.2.3. "Losses" means losses, claims, damages, costs, expenses, taxes, penalties or liabilities, regardless of whether a judgment has been entered (including reasonable legal fees, costs and expenses) and any costs of investigating and defending any claim, demand, cause of action or action.
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Examples of General Operating Account in a sentence

  • In 1998 or when the funds become available an additional $7.7 million will be deposited in the General Operating Account from revenue bond reserves that are no longer required by revenue bond covenants and that would otherwise be credited to the contractors including the Agency, bringing the deposits to that account under this article to $22.7 million.

  • In 1998 or when the funds become available an additional $7.7 million will be deposited in the General Operating Account from revenue bond reserves that are no longer required by revenue bond covenants and that would otherwise be credited to the contractors including the District, bringing the deposits to that account under this article to $22.7 million.

  • The Partnership shall establish on its books the following accounts, which shall be maintained so long as the Loan Obligations remain unsatisfied: a General Operating Account, a Tenant Security Deposit Account and a Reserve Account.

  • All amounts received by the Borrower Representative hereunder shall be deposited into the applicable Borrower’s Property Operating Account or General Operating Account; provided that the foregoing requirement shall not restrict any Borrower from making any Restricted Junior Payment of funds received by the Borrower Representative pursuant to Section 2.06(c)(viii) if such funds could be distributed as a Restricted Junior Payment by such Borrower pursuant to Section 5.05(m) on such date.

  • The borrower shall establish on its books the following accounts, which shall be maintained so long as the Loan Obligations remain unsatisfied: a General Operating Account, a Tenant Security Deposit Account and a Reserve Account.

  • The Trust may, from time to time, deposit, or cause to be deposited, other moneys into the General Operating Account.

  • By the time the Government loan is closed or interim construction funds are obtained, whichever occurs first, the Borrower shall provide cash from the Borrower's own funds in an amount totaling $ in the General Operating Account.

  • Property Managers shall be compensated for services under this Agreement by monthly fees to be paid out of the General Operating Account and treated as property expenses.

  • The General Operating Account must be reconciled quarterly and submitted to the City along with a rent roll as described in Section 5.8.1.2.

  • BBE may, at its sole discretion, close the abandoned account, placing any positive trade dollar balance in the BBE General Operating Account.


More Definitions of General Operating Account

General Operating Account. The account, designated as such, established and maintained pursuant to Section 5.1 of the Facility Administration Agreement.
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General Operating Account means a separate trust account maintained by the Trustee at a national banking association.
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General Operating Account has the meaning ascribed thereto in Section 3.8(a).
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General Operating Account means the account that has been set aside for the administration, maintenance of the cemetery and for services rendered in connection with its operation.
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Related to General Operating Account

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Maintenance and Operations Revenue or “M&O Revenue” means (i) those revenues which the District receives from the levy of its annual ad valorem maintenance and operations tax pursuant to Section 45.002 of the TEXAS EDUCATION CODE, or other lawful authority, and Article VII § 3 of the TEXAS CONSTITUTION, plus (ii) all State revenues to which the District is or may be entitled under the applicable provisions of the TEXAS EDUCATION CODE or any other statutory provision as well as any amendment or successor statute to these provisions, as applicable, less

  • General Account means the assets and liabilities of a protected cell company other than protected cell assets and protected cell liabilities.