PBGC Escrow Account definition

PBGC Escrow Account means an account established to hold a portion of the sale proceeds from any disposition of the Newtown Premises in an amount equal to the remaining PBGC Funding Waiver Obligations at the time of such sale.
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PBGC Escrow Account means an account established to hold a portion of the sale proceeds from any disposition of the Newtown Premises in an amount equal to the remaining PBGC Funding Waiver Obligations at the time of such sale. “PBGC Escrow Agent” means a bank mutually acceptable to BlueLinx and the PBGC at which the PBGC Escrow Account shall be maintained pursuant to the PBGC Escrow Agreement. “PBGC Escrow Agreement” means the escrow agreement contemplated by the PBGC Newtown Mortgage in connection with the sale of Newtown Premises that would be entered into among BlueLinx, the PBGC and the PBGC Escrow Agent with respect to the PBGC Escrow Account. “PBGC Funding Waiver Documents” means, collectively (as the same now exist or may hereafter exist upon the execution and delivery thereof and may hereafter or thereafter, as the case may be, be amended, modified, supplemented, extended, renewed, restated or replaced): (i) the PBGC Newtown Mortgage; (ii) the PBGC Funding Waiver Letter;(iii) the PBGC Escrow Agreement; and (iv)
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PBGC Escrow Account means an account established to hold a portion of the sale proceeds from any disposition of the Newtown Premises in an amount equal to the remaining PBGC Funding Waiver Obligations at the time of such sale. “PBGC Escrow Agent” means a bank mutually acceptable to BlueLinx and the PBGC at which the PBGC Escrow Account shall be maintained pursuant to the PBGC Escrow Agreement. “PBGC Escrow Agreement” means the escrow agreement contemplated by the PBGC Newtown Mortgage in connection with the sale of Newtown Premises that would be entered into among BlueLinx, the PBGC and the PBGC Escrow Agent with respect to the PBGC Escrow Account. “PBGC Funding Waiver Documents” means, collectively (as the same now exist or may hereafter exist upon the execution and delivery thereof and may hereafter or thereafter, as the case may be, be amended, modified, supplemented, extended, renewed, restated or replaced): (i) the PBGC Newtown Mortgage; (ii) the PBGC Funding Waiver Letter;(iii) the PBGC Escrow Agreement; and (iv) any agreement, document instrument executed and/or delivered by any Borrower or Guarantor in connection therewith. “PBGC Funding Waiver Letter” means the letter, dated May 8, 2014, issued by the IRS in favor of BlueLinx pursuant to which the IRS has granted the application of BlueLinx of a waiver of the minimum funding standards for the plan year ended December 31, 2012 required under the BlueLinx Plan, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated, or replaced. “PBGC Funding Waiver Obligations” means the original amount of $3,744,250, consisting of the aggregate amount of the outstanding balance (and interest that has accrued and will accrue thereon) of the minimum funding standard for the plan year of the BlueLinx Plan as set forth in the PBGC Funding Waiver Letter. “PBGC Newtown Mortgage” means the Mortgage Deed, dated as of July 8, 2014, made by BlueLinx, as mortgagor, in favor of the PBGC, as mortgagee, with respect to the Newtown Premises, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated, or replaced. “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, which is subject to the provisions of Title IV or
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Related to PBGC Escrow Account

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Accounts means any escrow account in which Escrowed Proceeds are deposited and held.

  • Adjustment Escrow Account has the meaning set forth in Section 2.4(a)(i).

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

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

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Indemnity Escrow Amount means $5,000,000.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Indemnity Escrow Agreement has the meaning set forth in Section 1.5.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C hereof.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.