Project Escrow Account definition

Project Escrow Account has the meaning set forth in Section 11.2(a).
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Project Escrow Account means any deposit account established in the name of the Borrower to hold funds, and only such funds, in escrow for a particular customer to cover costs of repairing and replacing infrastructure and other improvements on the customer’s property.
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Project Escrow Account means an account maintained by the Concessionaire/Licensee/Project Company for the entire remaining tenure of the Concession/License/Right of Way, wherein every month a portion from the total proceeds of revenue receipts of the Infrastructure Project shall be deposited by way of remittance from the Project Collection Account. The amounts standing to the credit of the Project Escrow Account shall be solely utilized for the routine and periodic maintenance of the Infrastructure Project.
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Examples of Project Escrow Account in a sentence

  • At such time as either CAW or MCWD is in breach of its obligation to make all or any portion of its Product Water Contract Payments, such Party's rights to receive any disbursement from the Project Escrow Account shall be suspended.

  • As set forth in Section 11.2, as Product Contract Water Payments are made, the Escrow Agent shall cause to be disbursed to the respective Parties in accordance with the terms of the Project Escrow Account Agreement those O&M Costs which are to be reimbursed to the Party.

  • CAW shall make the CAW Product Water Contract Payments, as and when required by this Section 11.3, by remitting such payments directly to the Project Escrow Account.

  • On each Payment Period Payment Date, in addition to the CAW Debt Service Allocation, CAW shall pay to the Project Escrow Account an amount (each such payment, a “CAW Reserve Fund Payment”) equal to the then applicable Reserve Percentage of the concurrently paid CAW Debt Service Allocation.

  • MCWD shall pay the Project Escrow Account MCWD's Proportional Share of O&M Costs as calculated pursuant to Section 11.6 for each Payment Period.

  • All accounts under the Project Escrow Account Agreement shall be interest bearing accounts and any interest earned on funds paid into such accounts shall be retained in such accounts and applied against future payments from such accounts.

  • The Sukuk Murabahah is secured by the assignment of the contract Concession Payments and the Project Escrow Account, and a negative pledge on all assets of ESSB.

  • In addition, upon commencement of the Product Water Contract Payments, the CAW Reserve Fund Payments and the MCWD Reserve Fund Payments, if applicable, shall be deposited into the Reserve Fund Payments Account pursuant to the terms of the Project Escrow Account Agreement.

  • Replacements shall be paid for from the Reserve Fund Payments Account (each, a “Reserve Fund Expenditure”), and the Project Escrow Account Agreement shall provide, as follows: If the Replacement is anticipated by the Replacement Budget for the current Calendar Year, MCWD or MCWRA, as applicable, shall cause the Replacement to be paid from the Reserve Fund Payments Account.

  • MCWD, MCWRA and CAW shall enter into a mutually acceptable escrow agreement (the “Project Escrow Account Agreement”) to establish an escrow account (the “Project Escrow Account”) with a mutually acceptable third- party escrow agent (the “Escrow Agent”) that will disburse the proceeds of the Product Water Contract Payments from the Project Escrow Account in a manner which reflects the provisions of Section 11.2(b) herein.


More Definitions of Project Escrow Account

Project Escrow Account. As such term is defined in Section 4.1(f). ---------------------- --------------
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Project Escrow Account has the meaning assigned in the Cash Management Agreement.
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Project Escrow Account means the account maintained by the Escrow Agent into which Five Hundred Thousand Dollars ($500,000) of an Investing Member’s Capital Contribution shall be deposited upon subscription and which shall be disbursed to or at the direction of the Company upon satisfaction of the condition(s) outlined in the Offering Memorandum. Funds deposited in the Project Escrow Account by an Investing Member shall be treated as a Capital Contribution to the Company by that Investing Member.
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Related to Project Escrow Account

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

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • 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.

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

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

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

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

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

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Project Funds means funds disbursed by the State Water Board to the Recipient for purposes of this Agreement.

  • 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.

  • 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).

  • 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.

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

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

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

  • Indemnity Escrow Amount means $3,000,000.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Completion Accounts means the consolidated balance sheet of the Target Group as at the close of business on the date of Completion and a consolidated profit and loss account of the Target Group for the period from the Last Accounts Date up to and including the date of Completion, which shall be prepared in accordance with Schedule 5.

  • Escrow Payments With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document.