Operating Account definition

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.
Operating Account. Is defined in Section 7-3.
Operating Account has the meaning set forth in Section 2.09(b).

Examples of Operating Account in a sentence

  • It is acknowledged that while the funds are on deposit in the Trust Operating Account awaiting distribution, the Company will not earn any interest or dividends.

  • In accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account and to transfer the total proceeds of the Trust to the Trust Operating Account at J.X. Xxxxxx Cxxxx Bank, N.A. to await distribution to the Public Shareholders.


More Definitions of Operating Account

Operating Account shall have the meaning set forth in Section 2.7(a).
Operating Account. Defined in Section 7.3(a)(iii).
Operating Account shall have the meaning set forth in Section 5.4.1.1.
Operating Account is defined in Section 1.3(a), and maintained in accordance with the terms of Xxxxx Fargo’s Commercial Account Agreement in effect for demand deposit accounts.
Operating Account has the meaning given to such term in Section 3 hereof.
Operating Account means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.
Operating Account means the account that you normally use for the day-to-day cash needs of your business, and may be either or both of a Canadian dollar and a U.S. dollar account.