Proceeds Account definition

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.

Proceeds Account means a bank account of the Issuer held with a reputable bank, into which the Net Proceeds 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.

Proceeds Account means a bank account of the Issuer held with a reputable bank, into which the Net Proceeds will be transferred and which has been pledged in favour of the Security Agent and the Bondholders (represented by the Security Agent) under the Proceeds Account Pledge Agreement.

Examples of Proceeds Account in a sentence

• Furthermore, as and when required pursuant to Section 3.05(d), the Certificate Administrator shall transfer monies from the Excess Liquidation Proceeds Account to the Distribution Account.

• Each account that constitutes the Excess Liquidation Proceeds Account shall be an Eligible Account (or a separately identified sub-account of the Distribution Account, provided that for all purposes of this Agreement (including the obligations of the Certificate Administrator hereunder) such account shall be considered to be and shall be required to be treated as separate and distinct from the Distribution Account).

• The Certificate Administrator shall also deposit in the Excess Liquidation Proceeds Account from its own funds any amounts required to be deposited by the Certificate Administrator pursuant to Section 3.06 in connection with losses incurred with respect to Permitted Investments of funds held in the Excess Liquidation Proceeds Account.

• Each account that constitutes the Excess Liquidation Proceeds Account shall be an Eligible Account.

• Funds other than Loss Proceeds shall be disbursed prior to disbursement of such Loss Proceeds, and at all times the undisbursed balance of such proceeds remaining in the Loss Proceeds Account, together with any additional funds irrevocably and unconditionally deposited therein or irrevocably and unconditionally committed for that purpose, shall be at least sufficient in the reasonable judgment of Lender to pay for the cost of completion of the restoration free and clear of all Liens or claims for Lien.

More Definitions of Proceeds Account

Proceeds Account has the meaning set forth in Section 10(c).

Proceeds Account is defined in Section 7.1.10.

Proceeds Account has the meaning set forth in Section 2.04(b)(ii).

Proceeds Account has the meaning set forth in the Accounts Agreement.

Proceeds Account means the account by that name established pursuant to Section 3.03. “Regulations” means temporary and permanent regulations promulgated under the Tax Code. “Resolution” or “Bond Resolution” means this Resolution.

Proceeds Account means that certain account maintained with the Agent, established by the Borrower Agent for the purpose of depositing proceeds in connection with the issuance and sale of the Convertible Senior Debentures, unless such account offers inferior interest rates or fees than a comparable account with another reputable banking institution, and in such case the Borrower Agent may designate such comparable account as the “Proceeds Account”.

Proceeds Account means, with respect to each Locality, its account by that name established under Section 4 of this Proceeds Agreement.