Initial Payment Account definition
Initial Payment Account means each bank account (or "Account") of the Borrower identified in the Blocked Account Agreement at the time the Blocked Account Agreement is executed.
Initial Payment Account means the first Payment Account established pursuant to this Agreement.
Examples of Initial Payment Account in a sentence
The Initial Payment Account shall have been established, and the Lender shall have received the Blocked Account Agreement.
Unless the Lender otherwise directs, the Initial Payment Account shall be the only Payment Account for purposes of this Agreement.