Special Loan Account definition

Special Loan Account means the demand deposit account established pursuant to Section 3.8 hereof ("Special Loan Account").
Sample 1
Special Loan Account means the account opened and maintained by the Assignor with the Security Account Bank under account number *** pursuant to and in accordance with this Deed.
Sample 1
Special Loan Account means a deposit account established by the Borrower -------------------- with the Lender which is subject to the Lender's rights (i) to debit and apply all or any part of the Available Balance to payment of interest, fees, expenses and other amounts to which the Lender may be entitled from time to time, without the consent or approval of the Borrower being required, or (ii) to debit and apply all or any part of the Available Balance to reduce the principal balance of the Revolving Loan from time to time, without the consent or approval of the Borrower being required.
Sample 1

Examples of Special Loan Account in a sentence

  • The Borrower shall notify the Bank if any Account includes any sales or other similar tax and the Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Special Loan Account therefor.

  • If you do not receive an email within three business days, log into your OSAP application and complete your MSFAA through the link provided.Next Steps:Once all required documents have been submitted, your school will confirm your enrolment before your funding can be disbursed to you.

  • Upon receipt of written instructions from the Bank after an Event of Default, the Borrower shall direct (by instruction on invoices and otherwise) all Account Debtors to make payments to a designated post office box under the control of the Bank, which payments shall be deposited directly into the Special Loan Account.

  • The Borrower shall notify the Bank if any Account includes any sales or other similar tax and the Bank may at Bank's option either disburse amounts to Borrower from the Special Loan Accounts for payment to the taxing authority if the Special Loan Account contains sufficient amounts to pay or remit any such taxes directly to the taxing authority and make Advances or charge the Special Loan Account therefor.

  • The Borrower shall establish and maintain with the Bank, during the term of the Loan, a demand deposit account (the "Special Loan Account") into which the Borrower shall deposit, as received, all proceeds from the sale of Inventory and collection of Accounts and other Collateral in the form of checks, drafts, cash or the like, and all such proceeds shall constitute Collateral.

  • Unless the Bank shall agree to other arrangements, the Borrower shall direct (by instruction on invoices and otherwise) all Account Debtors to make payments to a designated post office box under the control of the Bank, which payments shall be deposited directly into the Special Loan Account.

  • Upon the occurrence of an Event of Default and demand by Bank, the Borrower shall establish and maintain with the Bank, during the term of the Loan, a demand deposit account (the "Special Loan Account").

  • We hereby acknowledge the acceptance of the Notice of Assignment relating to the Special Loan Account (account no.: ***) and hereby agree to comply with the terms in the said notice.

  • Borrower shall notify Bank if any Account includes any --------- sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Special Loan Account therefor.

  • Until an Event of Default has occurred, all collected funds remaining on deposit in the lockbox deposit account after application of funds in accordance with the preceding sentence shall be deposited into the Special Loan Account.


More Definitions of Special Loan Account

Special Loan Account means the demand deposit account established pursuant to Section 3.8 hereof ("SPECIAL LOAN ACCOUNT").
Sample 1

Related to Special Loan Account

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Loan Account has the meaning set forth in Section 2.10.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Note Account As defined in the Indenture.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Special Agent Advances shall have the meaning set forth in Section 12.11 hereof.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Custodian Account means an account subject to a Custodian Agreement.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under its sole dominion and control.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Agent Account means an account in the name of the Agent designated by the Agent to the Borrower from time to time into which the Borrower shall make all payments to the Agent, for the account of the Agent or the Lenders, as the case may be, under this Agreement.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Lender’s Account means the account identified in Schedule L-1.

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;