Pledged Loan Payments Account definition

Pledged Loan Payments Account means that bank account established with the Escrow Agent by Borrower, identified as the Pledged Loan Payments Account on Schedule 1 to the Deposit Account Control Agreement. This account is a non interest bearing account pledged in favor of the Lender pursuant and subject to the Deposit Account Control Agreement. The Pledged Loan Payment Accounts receives the deposits of all Pledged Loan Payments.
Sample 1

Examples of Pledged Loan Payments Account in a sentence

  • Lender hereby instructs and authorizes Escrow Agent to transfer all funds on deposit in the Pledged Loan Payments Account to the Cash Collateral Account on the Business Day immediately following the later of the Loan Deposit Date or the Loan Payment Date occurring during each calendar month in accordance with Section 2.3 of the Escrow Agreement.

  • The Pledged Accounts will be assigned the federal tax identification numbers of [TAX IDENTIFICATION NUMBER] for the Pledged Loan Payments Account and [TAX IDENTIFICATION NUMBER] for the Cash Collateral Account, which numbers are also set forth on Schedule 1 hereto.

  • A poll conducted in November, 2010 by a national firm asked participants to rate the honesty and ethical standards of people in 22 different professions.

  • Borrower may not make any assignment or transfer of, or grant any security or other interest in, the Pledged Loan Payments Account or Cash Collateral Account or any interest therein, or any of its rights under this Agreement.

  • Based on its inspection, the FDA issued a Form 483 (a form used by the FDA to document and communicate deficiencies in a company’s manufacturing quality-control system), stating that it had found “ten inspectional observations,” or deficiencies, at the Taiwan facility.

  • For these elections, only the national Identity card or ePassport which has the ID number is needed to register, and every intending voter has to update their voters’ registration information with their ID details.

  • Borrower agrees that once a loan is pledged as a Pledged Loan pursuant to an Itemization of Collateral, if Borrower, or any other party acting by, or at the direction of Borrower, receives any Pledged Loan Payments (including Pledged Loan Impounds), Borrower will immediately remit, or cause such others to immediately remit, such Pledged Loan Payments and/or Pledged Loan Impounds, as applicable, to Escrow Agent for deposit into the Pledged Loan Payments Account.

Related to Pledged Loan Payments Account

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

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Note Account As defined in the Indenture.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

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

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

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Principal Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

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

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

  • Collection Accounts As defined in Section 3.10(a).

  • Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

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

  • Surplus Account has the meaning assigned to it in Section 3.02(a).