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 shall have the meaning set forth in Section 2.7(a).

Operating Account. Is defined in Section 7-3.

Examples of Operating Account in a sentence

• Upon the effective date thereof as set forth in the Buydown Availability Request, all Transactions may revert to the applicable Asset Value as set forth in the Pricing Letter and Buyer may return such previously applied amounts to the Operating Account in its sole discretion.

• The Omnibus Account and Operating Account are obligations of the UBS AG, Stamford Branch only, and are not obligations of UBS AG generally or of any of its other affiliates.

• Unless otherwise agreed by Agent and Borrower, any Advance requested by Xxxxxxxx and made by Agent or the Lenders hereunder shall be made to the Operating Account.

• Within thirty (30) days of the Closing Date, the Borrower, the Collection Account Bank, and the Agent shall enter into Control Agreements with respect to the Collection Account and the Operating Account, which Control Agreements shall be in form and substance reasonably satisfactory to the Agent.

• In the event the Takeout Price is less than the Repurchase Price, the Buyer shall withdraw funds from the Operating Account and Warehouse Accounts such that no deficiency exists.

More Definitions of Operating Account

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 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.

Operating Account. Is defined in Section 8.3.

Operating Account has the meaning set forth in Section 2(e).

Operating Account means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.

Operating Account has the meaning given to such term in Section 3 hereof.

Operating Account means the account established pursuant to Section 9(d) of the Agreement.