Operation Account definition

Operation Account means the separate account maintained by the Administrator for the payment of Company-Owned Litigation Administrative Expenses and from which distributions to Members will be made in accordance with Article IV and the Plan.
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Operation Account means the Albany Water Board Operation Account established by, and held in the custody of, the Board pursuant to Section 4.2(A)(2) of the Financing Agreement.
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Examples of Operation Account in a sentence

  • Assessments collected by the Association shall be deposited into at least two (2) separate accounts with a responsible financial institution, which accounts shall be clearly designated as (i) the Current Operation Account and (ii) the Reserve Account.

  • Special Assessments may be levied in addition to Regular Assessments for (i) constructing capital Improvements, (ii) correcting an inadequacy in the Current Operation Account, (iii) defraying, in whole or in part, the cost of any construction, reconstruction, unexpected repair or replacement of Improvements in the Common Area, or (iv) paying for such other matters as the Board may deem appropriate for the Project.

  • The Board shall deposit those portions of the assessments collected for current maintenance and operation into the Current Operation Account and shall deposit those portions of the assessments collected as reserves for replacement and deferred maintenance of major components which the Association is obligated to repair, restore, replace or maintain into the Reserve Account.

  • All other costs properly payable by the Association shall be paid from the Current Operation Account.

  • If all or any portion of the Common Area is taken for any public or quasi-public use under any statute, by right of eminent domain or by purchase in lieu of eminent domain, the entire award shall be deposited into the Current Operation Account until distributed.

  • Notwithstanding the provisions of Section 8.3 (h), the Operator shall be entitled to pledge and assign its rights under the Tax Account and the Costs of Operation Account in favour of any Lender providing financing in connection with the Project.

  • MSC shall also fund into the Costs of Operation Account such other amounts and on such other dates as may be specified by Operator in a request for funds, made in consultation with MSC, delivered to MSC at least forty-five (45) days in advance of the specified funding date.

  • Following termination of such access, Collateral Agent shall have exclusive control over the Vivitar Operation Account and the Vivitar Payroll Account and all funds deposited into such Deposit Accounts will be automatically transferred on a daily basis to Administrative Agent’s Account for application to the Obligations in accordance with Section 2.13(d).

  • Vivitar Corporation shall be permitted to access funds deposited into the Vivitar Operation Account and the Vivitar Payroll Account until such time as Collateral Agent elects to terminate such access.

  • Owner will transfer adequate funds from the Master Account to the Operation Account for smooth and efficient functioning of Hotel.

Related to Operation Account

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Administration Account As defined in Section 7.02.

  • Concentration Account has the meaning provided in Section 6.13(c).