Release Account definition

Release Account. As defined in the Property Management Agreement.

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Release Account. The segregated account established and maintained by the Indenture Trustee on behalf of the Noteholders and the Issuers for the deposit of cash proceeds from the sale of any Property or Mortgage Loan.

Release Account means an account established for an inmate in which a percentage of the inmate’s income is deposited, in accordance with s. DOC 309.466 so that the inmate has suffi- cient funds when released from the institution to purchase release clothing, out−of−state transportation, and other items and services needed on release.

Examples of Release Account in a sentence

The Release Account and the amounts on deposit therein will be pledged to the Indenture Trustee under the Indenture.
Any proceeds of such sale, transfer or other disposition shall not constitute part of the Collateral and shall not be deposited in the Collection Account or the Release Account.
The Property Manager may direct any institution maintaining the Release Account to invest the funds held therein in one or more specific Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, not later than the Business Day immediately preceding the day such amounts are required to be distributed pursuant to this Agreement, which may be in the form of a standing direction.
Notwithstanding the foregoing, during the continuance of an Early Amortization Period, all amounts on deposit in the Release Account will be transferred as Unscheduled Proceeds into the Collection Account and applied as Unscheduled Principal Payments, after payment of Collateral Pool Expenses in accordance with Section 2.11(b) of the Indenture, on the Payment Date following the occurrence of such Early Amortization Period.
The funds held in the Release Account may be held as cash or invested in Permitted Investments in accordance with the provisions of Section 3.06(b).
The Special Servicer shall remit to the Property Manager for deposit in the Collection Account or Release Account, as applicable, upon receipt, all REO Revenues, Insurance Proceeds and Liquidation Proceeds received in respect of an REO Property.
All such Permitted Investments in the Collection Account and the Release Account shall be held to maturity, unless payable on demand.
The funds held in the Release Account may be held as cash or invested in Permitted Investments in accordance with the provisions of Section 3.05(a).
Any investment of funds in the Collection Account and the Release Account shall be made in the name of the applicable Issuer for the benefit of the Indenture Trustee (in its capacity as such).
Except as provided in Section 5.03(a), the Property Manager shall have no liability for any investment of funds in the Collection Account, the Release Account or Servicing Account.

More Definitions of Release Account

Release Account. The segregated account established and maintained by the Indenture Trustee on behalf of the Noteholders and the IssuersAs defined in Section 3.04(b).

Release Account. As defined in Section 3.02(f).

Release Account. As defined in Section 3.04(b) . “Release Parcel ”: With respect to the Post-Closing Properties identified as ▇▇▇▇▇▇▇’▇ Food Market (1055 Sugarbush Drive) and ▇▇▇▇▇▇▇’▇ Food Market (3540 Burbank Road), an undeveloped portion of each such property that (i) was not considered in determining the purchase price thereof paid by the Originator with respect thereto and (ii) is subject to an option 26 US-DOCS\ 96557504.7 102826315.7

Release Account means the segregated account established and maintained by and in the name of the Indenture Trustee pursuant to the Indenture for the deposit and retention of (i) the Release Price received from the sale or release of any Released Property (other than any Release Price obtained in connection with a Senior Class A Release Event, Liquidation Proceeds with respect to Defaulted Assets, or any Series Collateral Release Prices) net of applicable taxes withheld therefrom or otherwise payable by the Issuer with respect thereto and (ii) Excess Proceeds, net of applicable taxes withheld therefrom or otherwise payable by the Issuer with respect to such Excess Proceeds.

Release Account. The segregated account established and maintained by the Indenture Trustee on behalf of the Noteholders and the IssuersAs defined in Section 3.04(b). “Release Parcel”: With respect to the Post-Closing Properties identified as ▇▇▇▇▇▇▇’▇ Food Market (1055 Sugarbush Drive) and Buehler’s Food Market (3540 Burbank Road), an undeveloped portion of each such property that (i) was not considered in determining the purchase price thereof paid by the Originator with respect thereto and (ii) is subject to an option on the part of the related Tenant permitting such Tenant to subdivide and reacquire such undeveloped portion for a nominal amount. “Release Price”: As defined in Section 7.01(b).