Rent Account definition

Rent Account means one or more Eligible Account(s) maintained in a bank acceptable to Lender in the joint names of Lender and Borrower.

Rent Account means an Eligible Account, maintained at the Rent Account Bank, in the joint names of Xxxxxx and Lender or its successors or assigns (as secured party) as may be designated by Xxxxxx.

Rent Account means the account referred to in clause 9.1 and any account which replaces it from time to time with the prior written consent of the Lender

Examples of Rent Account in a sentence

• Sixth, payments to Payee of the balance of the funds then on deposit in the Rent Account to be applied to (x) any other amounts due under the Loan Documents, (y) Accrued Interest and (z) the reduction of the outstanding principal balance of this Note until such principal balance is paid in full in whatever proportion and priority as Payee may determine.

• On or before the Closing Date, Lender shall on behalf of the Borrower establish and maintain with the Collection Account Bank an account for the remittance of prepaid Rent designated the Prepaid Rent Account (the “Prepaid Rent Account”) which shall be an Eligible Account and shall have the same title as Collection Account for the benefit of the Lenders until the Loan is paid in full.

• Lender may elect to change the financial institution in which the Central Account shall be maintained; however, Lender shall give Borrower and the bank in which the Rent Account is located not fewer than five (5) Business Days’ prior notice of such change.

• Lender has established the Escrow Accounts and the Central Account in the name of Lender as secured party and Borrower has established the Rent Account in the joint names of Lender, as secured party, and Borrower.

• On any Payment Date as of which the most recent Monthly Statement indicates that the prepaid Rent which was previously in excess of $15,000 has been reduced below $15,000, the Lender shall withdraw from the Prepaid Rent Account and transfer to the Collection Account the entire amount of funds then on deposit in the Prepaid Rent Account to be applied together with the other collections from the Mortgaged Properties pursuant to Section 2.12(b) on such Payment Date.

More Definitions of Rent Account

Rent Account means the account designated as such under the terms of this Agreement and opened and maintained by the Company pursuant to Clause 14 (Bank Accounts).

Rent Account means a depositary account in the name of a Borrower maintained at a Borrower Rent Account Bank into which tenants have been instructed to deposit rents, which may include a consolidated account across all Borrowers, provided that such consolidated account does not contain funds from any party that is not a Borrower.

Rent Account means the Borrower Rent Account, Seller 2 Rent Account and PropCo Rent Account and each of them.

Rent Account as defined in Section 2.1(b)(iv).

Rent Account means any account referred to in Clause 21.1.2 (Bank Accounts) and includes any replacement account or sub-division of that account.

Rent Account means the “Rent Account” established by the Depositary pursuant to the Depository Agreement.

Rent Account means the account on which SunMoney records the Rent payable to the Distributor