Operating Account definition

Operating Account. Is defined in Section 7-3.

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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).

Examples of Operating Account in a sentence

To the extent amounts held in the Collection Account or after Notice of Exclusive Control has been provided, the Operating Account, and paid in accordance with Section 2.08 are insufficient to pay the Servicer Termination Expenses, Borrower (and to the extent Borrower fails to so pay, the Lenders based on their Pro Rata Share) agree to pay the Servicer Termination Expenses within ten (10) Business Days of receipt of an invoice therefor.
The Borrower shall (i) provide the Administrative Agent with (x) “online” access to each Collection Account, and (y) “view-only” access to the Operating Account, and (ii) procure that such access shall remain in effect until repayment in full of the Obligations and termination of this Agreement.
On the Advance Date of each Revolving Loan Advance, upon satisfaction of the applicable conditions set forth in Article III, (x) each Revolving Lender shall make available to the Revolving Administrative Agent, in same day funds, an amount equal to such ▇▇▇▇▇▇’s Pro Rata Share of such Revolving Loan Advance, and (y) the Revolving Administrative Agent shall promptly deposit such amounts into the Operating Account.
The Administrative Agent has been granted (x) “online” access to each Collection Account, and (y) “view-only” access to the Operating Account.
On the Advance Date of each Delayed Draw Term Advance, upon satisfaction of the applicable conditions set forth in Article III, (x) each Lender shall make available to the Administrative Agent, in same day funds, an amount equal to such Lender’s Pro Rata Share of such Delayed Draw Term Advance, and (y) the Administrative Agent shall promptly deposit such amounts into the Operating Account.

More Definitions of Operating Account

Operating Account means a trust account established and administered under section 15B of the Financial Administration and Audit Act 1985.

Operating Account is defined in Section 1.3(a), and maintained in accordance with the terms of ▇▇▇▇▇ Fargo’s Commercial Account Agreement in effect for demand deposit accounts.

Operating Account shall have the meaning set forth in Section 5.4.1.1.

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

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

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

Operating Account means the account or set of accounts maintained by Contractor and Operator to record Petroleum Costs and Remuneration.