Payee Deposit definition

Payee Deposit means, collectively, (a) any amounts in Sterling deposited by the Payee with the LC Bank to secure the obligations of the Payee under the LC Issuance Documents and (b) the amounts deposited by the Payer with the LC Bank pursuant to Section 5.01(s).
Sample 1

Examples of Payee Deposit in a sentence

  • Unless Overlandlord or Sublandlord elects otherwise, all installations, alterations, additions or improvements in or to the Subleased Premises shall be the property of Overlandlord and shall remain upon, and be surrendered with, the Subleased Premises at the end of the Term or sooner termination of this Sublease.

  • Finance, IM/IT and Administration The Finance, Information Management and Information Technology and Administration branch is responsible for financial management, information management and technology, and office administration support including translation and travel services.

  • Maximum LC Amount; Release of Payee Deposit 56 Section 3.01 Voluntary Reduction of Maximum LC Amount 56 Section 3.02 Mandatory Posting of Payer Deposit 56 Section 3.03 Increase of Maximum LC Amount 58 Section 3.04 Release of Payee Deposit 58 Section 3.05 FX True Up 58 Article IV.

  • Often living areas are a half story above the entryand the garage and family rooms are a half story below.

  • The expiry of justified claims from the rectification of defects under the limitation of time is put on hold for the period re- quired to rectify the defect up to its successful rectification.

  • The amount of each remaining quarterly increase in the Payer Deposit required pursuant to this clause shall be ratably reduced by the amount of the Payee Deposit released to the Payee pursuant to Section 3.04 as a result of (x) any voluntary reduction of the Maximum LC Amount pursuant to Section 3.01 or (y) any increase in Payer Deposit as a result of any mandatory posting of Payer Deposit pursuant to Sections 3.02(a), 3.02(b) and 3.02(c), in each case that results in a prepayment of Term B Loans.

  • In order to allocate the Payee Deposit to one or more Tranches on the Closing Date for purposes of calculating the LC Fee, the Payer shall notify the Payee of such Allocation Request on or prior to the Closing Date by telephone.

  • The Payer shall have paid the Payee an amount in Sterling equal to the Dollar equivalent of one and a half percent (1.5%) of 102% of the Maximum LC Amount in HN\1118344.20 effect on the Closing Date (calculated by reference to the Fixed Exchange Rate), which amount shall be deposited by the Payee with the LC Bank on the Closing Date and shall constitute a portion of the Payee Deposit.

Related to Payee Deposit

  • Cash Deposit means a cash security deposit in U.S. dollars held by AT&T-21STATE.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $3,807,950.53.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

  • Additional Deposit shall have the meaning set forth in Section 2.2.2.

  • Capitalized Interest Account Initial Deposit means $1,022,277.35 deposited on the Closing Date.

  • Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • Earnest Money Deposit (EMD) means the refundable amount to be submitted by the Bidder along with RFP documents to NMRC

  • the Deposit means 10% of the Purchase Price;

  • Full Deposit will consist of data that reflects the state of the registry as of 00:00:00 UTC (Coordinated Universal Time) on the day that such Full Deposit is submitted to Escrow Agent.

  • Savings deposit means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the bank during any specified period.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Term deposit means a deposit received by the bank for a fixed period withdrawable only after the expiry of the fixed period and includes deposits such as Recurring / Double Benefit Deposits / Short Deposits / Fixed Deposits /Monthly Income Certificate / Quarterly Income Certificate etc.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Xxxxxxx Money Deposit shall have the meaning set forth in Section 2.5(a).

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Direct Deposit Disbursement Requests for the Closing Disbursement(s) to be deposited into an account at Xxxxx Fargo Bank, N.A. must specify the amount and applicable account. Each account included in any such Disbursement Request must be listed below. Name on Deposit Account: Xxxxx Fargo Bank, N.A. Deposit Account Number: Further Credit Information/Instructions: Disbursements of Loan Proceeds Subsequent to Loan Closing/Origination Subsequent Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Subsequent Disbursement Authorizer”) to disburse Loan proceeds after the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Subsequent Disbursement”): Individual’s Name Title 1.

  • Escrow Deposit shall have the meaning set forth in Section 2.2(a).

  • Initial Reserve Account Deposit means $3,000,000.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Qualifying Deposit means the aggregate balance of all Deposit Accounts in the Bank of (i) an Eligible Account Holder at the close of business on the Eligibility Record Date, provided such aggregate balance is not less than $50, and (ii) a Supplemental Eligible Account Holder at the close of business on the Supplemental Eligibility Record Date, provided such aggregate balance is not less than $50.

  • Holding Account means an account:

  • Imposition Deposits are defined in Section 7(a).