Owner Bank Account definition

Owner Bank Account means a bank account identified by Owner to Manager as the account to which all Owner Proceeds are to be deposited in the name of the Owner.
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Owner Bank Account shall be the Collection Account as in the Senior Facility Agreement, which is the account the Owner has designated to the Manager as the account to which all payments from the Manager to the Owner under the terms of this Agreement are to be deposited.
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Examples of Owner Bank Account in a sentence

  • The Manager shall be entitled to withhold such Management Fee and all other amounts due to Manager under this Agreement from amounts required to be deposited into the Owner Bank Account.

  • When Manager receives Indemnification Proceeds, Manager shall retain for its own account, and shall not be required to deposit into the Owner Bank Account, Indemnification Proceeds to the extent Manager has not been reimbursed for the costs incurred by Manager to which such Indemnification Proceeds apply, and shall, within seven (7) days after receipt, deposit the balance of such Indemnification Proceeds into the Owner Bank Account.

  • When the Manager receives Indemnification Proceeds, the Manager shall retain for its own account such Indemnification Proceeds to the extent the Manager has not been reimbursed for the costs incurred by the Manager to which such Indemnification Proceeds apply, and shall, within seven (7) days after receipt, deposit the balance, if any, of such Indemnification Proceeds into the Owner Bank Account.

  • So long as no Manager Default or Termination Right Event has occurred and is then continuing, the Manager shall be entitled to withhold such Management Fee from amounts required to be deposited into the Owner Bank Account, such withholding to be accomplished as described in Clause 6.2; otherwise the Owner shall pay the Management Fee to the Manager within fifteen (15) Business Days of the end of the calendar month for which the Management Fee accrued.

  • The Manager acknowledges the existence of, and consents to, such assignment and agrees that all payments of any kind payable hereunder to the Owner shall be paid, until further notice by the Lender’s Security Agent, directly to the Owner Bank Account.

  • The Manager shall, within seven (7) days after receipt, deposit into the Owner Bank Account any Indemnification Proceeds to which the Owner or any of its successors and assigns is entitled.

  • If (a) the Pre-Adjustment Owner Proceeds less the Estimated Manager Fee distributed for such calendar month pursuant to Clause 5.3 exceed (b) the Owner Proceeds less the Manager Fee as such amounts are finally determined for such month, then Manager shall remit the difference to the Owner Bank Account.

  • The Manager shall retain for its own account, and shall not be required to deposit into the Owner Bank Account, Indemnification Proceeds to which the Manager is entitled, to the extent the Manager has not been reimbursed therefor.

  • Subject to Clause 5.7, Manager shall, no later than seven (7) days after the last day of each week, distribute cash from its trust account and deposit into the Owner Bank Account equal to the Pre-Adjustment Owner Proceeds for such week, less, in the case of the distribution made for the last week of the calendar month, the Estimated Manager Fee.

  • So long as no Event of Manager Default hereunder has occurred and so long as the Manager has not been terminated pursuant to the terms of this Agreement, the Manager shall be entitled to withhold such Sales Fee from amounts required to be deposited into the Owner Bank Account, such withholding to be accomplished as described in Section 6.2; otherwise the Owner shall pay the Sales Fee to the Manager within ten (10) days following receipt by the Owner of an invoice for such Sales Fee from the Manager.