Note Disbursement Account definition

Note Disbursement Account means a U.S. dollar-denominated and a Hong Kong dollar-denominated note disbursement account (together with any sub-accounts or related accounts, including for term deposits, established in connection therewith) established by, and in the name of, the Company with the Account Bank in accordance with the Note Disbursement and Account Agreement.

Examples of Note Disbursement Account in a sentence

  • No Advance will be made for any Direct Costs unless the work and materials and the amount of the Direct Costs thereof are set forth in the Main Project Budget as Line Items (or portions thereof) to be funded from the Borrower's Funds Account, the Construction Note Disbursement Account, the Bank Proceeds Account or, if applicable, the Bank Credit Facility.

  • Subject to the provisions of Section 5.1 and the Holdings Collateral Account Agreement, amounts on deposit in the Construction Note Disbursement Account shall, from time to time, be transferred to the Borrower's Funds Account in repayment of an advance in the amount of $37,000,000 together with interest thereon made by the Borrower to Holdings on the Closing Date.

  • Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at Xxx Xxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, a securities account numbered 0000000 in the name of Secured Party and under the sole dominion and control of Secured Party, designated as "The Bank of Nova Scotia, as Disbursement Agent under Disbursement Agreement dated February 26, 1998, Construction Note Disbursement Account fbo the Discount Note Indenture Trustee".

  • All amounts deposited into the Construction Note Disbursement Account may be invested by the Securities Intermediary in Permitted Investments in accordance with Section 5.3 and the Holdings Collateral Account Agreement.

  • Holdings shall deposit the proceeds from the sale of the Discount Notes into the Construction Note Disbursement Account.

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  • During such time as there are proceeds from the Discount Notes in the Construction Note Disbursement Account, the Holdings Collateral Agreement and the pledge agreement in favor of the Discount Notes Indenture Trustee covering the Series A Preferred Interests shall continue to be in full force and effect.

  • Accrued interest earned on any amounts in the Note Disbursement Accounts shall be credited to, and remain in, the Note Disbursement Accounts and can be transferred among Note Disbursement Accounts and otherwise applied like other Note Disbursement Account balances in accordance with this Agreement.

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  • The Construction Note Disbursement Account shall be subject to the sole dominion and control of the Disbursement Agent for the benefit of the Discount Note Indenture Trustee.

Related to Note Disbursement Account

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

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

  • Agent Account means an account in the name of the Agent designated by the Agent to the Borrower from time to time into which the Borrower shall make all payments to the Agent, for the account of the Agent or the Lenders, as the case may be, under this Agreement.

  • 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.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

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

  • Disbursement Date is defined in Section 2.6.2.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

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

  • L/C Cash Collateral Account means an interest bearing cash collateral 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.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • 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.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.