PACC Operating Account definition

PACC Operating Account means unsecured accounts of PACC maintained in accordance with the provisions of Section 5.10 of the Common Security Agreement and Section 6.21 of this Agreement.
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Examples of PACC Operating Account in a sentence

  • The Company shall cause the Project Companies to distribute to the Company, through the declaration of a dividend, all Cash in excess of $20,000,000 at any time held by any of the Project Companies in the PACC Operating Account to the extent that doing so would not result in a breach of applicable law.

  • The Borrower shall cause the Project Companies to distribute to the Borrower, through the declaration of a dividend, all cash in excess of $20,000,000 at any time held in the aggregate by one or more of the Project Companies in the PACC Operating Account to the extent that doing so would not result in a breach of any Requirement of Law.

  • The Company shall cause the Project Companies to distribute to the Company, through the declaration of a dividend, all Cash in excess of $20,000,000 at any time held in the aggregate by one or more of the Project Companies in the PACC Operating Account to the extent that doing so would not result in a breach of applicable law.