Interim Management Account definition

Interim Management Account means a dedicated interest-bearing account to be established by Owner concurrent with execution of this Agreement and funded with fees collected from the initial sale or conveyance of Conservation Credits in an amount determined
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Interim Management Account means a dedicated interest-bearing account established by the Owner before the first Conservation Credit is sold. The Owner shall make an initial deposit to the Account in an amount equal to the total annual expenses required for the first-year maintenance of the Conservation Bank. The Account also shall be funded in an amount determined by the Parties as set forth in Exhibit “I.” This Account shall be used as a contingency to fund performance of the required management actions on the Conservation Bank Property until the Endowment Fund has accrued its Target Amount. Once the Target Amount for the Endowment Fund has been met, the Interim Management Account may be terminated, and all funds in the Account transferred to the Endowment Fund. Notwithstanding the foregoing, the Owner may retain any interest that accrued on the Interim Management Account prior to its termination. The creation of the Interim Management Account, which includes the initial funding of the Account, is a condition for the establishment of the Conservation Bank contemplated by this Agreement.
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Examples of Interim Management Account in a sentence

  • Adequate funding for responding to changed circumstances at the Zayante Sandhills Conservation Bank has been addressed through the inclusion of a contingency fund for such purposes (i.e., the Interim Management Account), and is also factored into the conservation credit purchase price.

Related to Interim Management Account

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Management Accounts Date means 30 September 2017;

  • 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.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

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

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • 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.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

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

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Collection Accounts As defined in Section 3.10(a).

  • 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.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Collateral Management Fee means each of the Senior Management Fee, the Subordinated Management Fee and the Incentive Collateral Management Fee.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Concentration Accounts has the meaning ascribed to it in Annex C.