Rental Property Operating Account definition

Rental Property Operating Account means the segregated account or accounts established by the Sellers and the SFR Subsidiary at the Rental Property Operating Account Bank exclusively for the benefit of the Sellers and the SFR Subsidiary (and, with respect to Security Deposits, Tenants to the extent required under applicable law) into which (i) Income received with respect to the Contributed Rental Properties (other than Security Deposits), (ii) all taxes and insurance escrow amounts Contributed Rental Properties and (iii) all Security Deposits with respect to the Contributed Rental Properties, will be deposited and held, and which shall be subject to the Rental Property Operating Account Control Agreement.

Examples of Rental Property Operating Account in a sentence

  • One Business Day prior to each Payment Date, the Property Manager shall cause the Bank to remit all amounts in the Rental Property Operating Account and REO Liquidation Account into the Collection Account.

  • Each Seller shall not and shall cause each Seller Party Subsidiary to not pledge, transfer or convey any security interest in the Collection Account, Rental Property Operating Account or the REO Liquidation Account to any Person without the express written consent of Buyer.

  • Each Seller shall not and shall cause each Seller Party Subsidiary to not pledge, transfer or convey any security interest in the Rental Property Operating Account or the REO Liquidation Account to any Person without the express written consent of Administrative Agent.

  • One (1) Business Day prior to each Payment Date, the Property Manager shall remit all amounts in the Rental Property Operating Account and REO Liquidation Account into the Collection Account.

Related to Rental Property Operating Account

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • 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.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Hotel Property for any hotel means the Real Property and the Personal Property for such hotel.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

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

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • Release Property has the meaning set forth in Section 2.5.

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Individual development account means a contract between an account holder and a fiduciary organization, for the deposit of funds into a financial institution by the account holder, and the deposit of matching funds into the financial institution by the fiduciary organization, to allow the account holder to accumulate assets for use toward achieving a specific purpose approved by the fiduciary organization.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • School operating purposes means the purposes included in the operation costs of the district as prescribed in sections 7 and 18 and purposes authorized under section 1211 of the revised school code, MCL 380.1211.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Real Property Assets means, as of any time, the real property assets (including interests in participating mortgages in which the Borrower’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by the Borrower, EQR and the Consolidated Subsidiaries of either or both at such time.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 2 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Operating Area means those areas on-shore in India in which company or its affiliated company may from time to time be entitled to execute such services/operations.

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).