At no time shall any funds be deposited into or held within the TD Operating Account.
No later than the 30th Day immediately succeeding the Agreement Date, the TD Operating Account shall be closed.
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.
Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.
Billing Account is the checking account from which all Service fees will be automatically debited.
Project Account means the account referred to in Section 3.04 (a) of this Agreement;
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.