HIC Operating Account definition
Examples of HIC Operating Account in a sentence
Once the Borrower has performed its covenant set forth above to fund the Minimum Aggregate Balances in the HIT Operating Account and the HIC Operating Account, and so long as such Minimum Aggregate Balances are maintained, the Borrower shall be permitted to transfer, dispose of or invest all other funds in all accounts in the Cash Management System in any manner not inconsistent with the terms of this Agreement the Loan Documents or the Intercompany Loan Documents.
In addition, the Borrower and the Senior Lender shall inform the manager of the Borrower's obligation to maintain the Minimum Aggregate Balances in the HIT Operating Account and the HIC Operating Account and shall instruct such manager to permit withdrawals or transfers from such accounts only to the extent of the excess over the Minimum Aggregate Balances until after a Responsible Officer of the Senior Lender shall have certified to such manager that all of the Obligations have been paid in full.