Borrower Operating Account definition

Borrower Operating Account means the account of the Borrower specified on Schedule H hereto.

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

Borrower Operating Account means the account of the Borrower which is identified by account number 4229995642 and ABA number 000000000.

Examples of Borrower Operating Account in a sentence

• On the first day of each month, Upper Tier Borrower shall transfer funds from Upper Tier Borrower Operating Account to the Restricted Account in the amount to which the Class A Lenders are entitled under Sections 10.2(a) and 10.2(b) of this Agreement and any portion of the Excess Spread required to be applied toward the Total Top Loss Shortfall under Section 1.3(f) of this Agreement for the applicable month.

• Upper Tier Borrower shall cause each Small Business Borrower to remit all payments with respect to each Small Business Loan solely to Upper Tier Borrower Operating Account and shall deposit all collections received by Upper Tier Borrower or any Affiliate of Upper Tier Borrower in respect of a Small Business Loan into Upper Tier Borrower Operating Account within two (2) Business Days of receipt thereof.

• Upon receipt of all such funds, the Administrative Agent, the Class A Lender, the Class B Lenders, and the Class C Lender, as applicable, shall be deemed to have authorized the release of such funds from Upper Tier Borrower Operating Account to originate the Small Business Loans.

• On or before the Effective Date, Upper Tier Borrower shall establish (and at all times thereafter shall maintain) with Upper Tier Borrower Account Bank Upper Tier Borrower Operating Account.

• Not later than 12:00 noon Mountain Time on the proposed Funding Date and no earlier than the Business Day before the proposed Funding Date the Class A Lender and the Class B Lenders, as applicable, shall transfer to Upper Tier Borrower Operating Account, by wire transfer in same day funds, the amount of their respective shares of such Upper Tier Borrowing.

More Definitions of Borrower Operating Account

Borrower Operating Account means the Borrower Operating Account established under the Collateral Account Pledge Agreement into which proceeds of the Loans hereunder will be deposited, unless directed to the Borrower Construction Account by the Administrative Agent.

Borrower Operating Account means an account specified to Lender by Borrower in writing from time to time as Borrower's operating account.

Borrower Operating Account means the deposit account maintained by Account Bank in the name of the Borrower in accordance with the terms of this Agreement, the Borrower Security Agreement and the Borrower Operating Account Control Agreement.

Borrower Operating Account means the account with SMBC in the name of Borrower to be created pursuant to and in accordance with the Account Control Agreement.

Borrower Operating Account shall have the meaning set forth in Section 2.6.1(a)(v).

Borrower Operating Account means an account of the Borrower (if the Borrower owns any Borrowing Base Properties) or any Borrowing Base Subsidiary maintained at a bank or other financial institution reasonably acceptable to the Administrative Agent for the purpose of receiving Operating Lease Rents and other revenue, income and other payments and profits due to the Borrower or such Borrowing Base Subsidiary, as the case may be, pursuant to an Operating Lease or otherwise with respect to a Borrowing Base Property.

Borrower Operating Account has the meaning specified in the -------------------------- Multistate Security Agreement.