Interest Deposit Account definition

Interest Deposit Account means, on or prior to the 1995 Trust Termination Date, the Interest Deposit Account as defined in 1995 Pooling and Servicing Agreement and, after the 1995 Trust Termination Date, the Interest Deposit Account as defined in the Pooling and Servicing Agreement.
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Interest Deposit Account. “Interest Deposit” and “Required Interest Deposit” shall have the meaning as set forth in Section 7 of Article 14.
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Interest Deposit Account shall have the meaning specified in the Interest Deposit Agreement.
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Examples of Interest Deposit Account in a sentence

  • The Lender shall be secured in the Interest Deposit Account, and upon the occurrence and continuance of an Event of Default, the Lender may apply the money in the Interest Deposit Account to any outstanding balance on the Loan.

  • The Borrower may only withdraw funds from the Interest Deposit Account for the payment of interest from and after September 1, 2009, and then only if the Project is substantially completed and a certificate of occupancy has been issued and has a 50% or greater lease-up.

  • The funds designated as Interest Reserve II will be available for disbursement on and after September 1, 2009, subject to Borrower’s compliance with the terms and conditions of this Agreement, including without limitation this Section 1.3 and Section 3.3. The Interest Deposit Account is an interest bearing account or fund on deposit with the Lender.

  • In addition, on each Navistar Interest Transfer Date, the Servicer shall direct the Indenture Trustee to withdraw from the Interest Deposit Account and deposit in the Collections Account an amount equal to the Navistar Finance Charges for the immediately preceding Due Period.

  • In addition, on each NITC Interest Transfer Date related to a Due Period commencing after the 1990 Trust Termination Date, the Servicer shall direct the Master Trust Trustee to withdraw from the Interest Deposit Account and deposit in the Collections Account an amount equal to the NITC Finance Charges for the immediately preceding Due Period.

  • To the extent the Pledgor keeps the Excess Deposit on deposit at the Bank, the Bank reserves the right to transfer the Excess Deposit from the Deposit Account into the Accrued Interest Deposit Account, which Accrued Interest Deposit Account shall earn interest at a rate to be determined by the Bank (and, for as long as such Excess Deposit shall be maintained at the Bank, shall be Collateral hereunder).

  • The Servicer at all times shall maintain accurate records reflecting each transaction in the Interest Deposit Account.

  • Effective as of the 1995 Trust Termination Date, after the transfer of the amounts on deposit (including investments) in the Interest Deposit Account related to the 1995 Interest Deposit Agreement into the 2011 Indenture Trustee pursuant to Section 3.01, the 1995 Interest Deposit Agreement is hereby terminated.

  • Accrued Interest, whether in the Deposit Account or in the Accrued Interest Deposit Account, are proceeds of the Deposit Account and shall be Collateral hereunder.

  • The Bank reserves the right to transfer the Accrued Interest from the Deposit Account into a separate deposit account at the Bank ("Accrued Interest Deposit Account"), which Accrued Interest Deposit Account shall earn interest at a rate to be determined by the Bank.


More Definitions of Interest Deposit Account

Interest Deposit Account means the bank account created and regulated by the Interest Deposit Agreement.
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Related to Interest Deposit Account

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • 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.

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

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Interest Reserve Account As defined in Section 3.4(d).

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

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Direct Account : means any Account which is not an ISA Account.

  • Agent Account means such account of the Administrative Agent in New York, New York as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

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

  • Investment Account As defined in Section 3.12(a).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.