Clearing Accounts definition

Clearing Accounts means the Eligible Accounts maintained at the Clearing Account Bank by the Individual Borrowers or Operating Lessees in the name of the Account Representative for the benefit of Lender. There shall be one Clearing Account or subaccount of a Clearing Account for each Property.

Clearing Accounts means those certain clearing accounts into which all credit card deposits and other amounts hereunder which are not contemplated to be deposited into the Property Accounts are transferred directly and from which all amounts on deposit are transferred to the Cash Management Account and which Clearing Accounts shall be Eligible Accounts.

Clearing Accounts shall have the meanings set forth in Section 6.1.

Examples of Clearing Accounts in a sentence

• It should also be noted that, to the extent the Tokens are listed for sale on a Token Trading Platform, such platform may internally provide for the formation and/or management of Token Clearing Accounts.

• At all times, Purchaser shall be the sole beneficial owner of the funds in the Payment Clearing Accounts received in connection with the Mortgage Loans and Seller's possession or control of any such funds shall be solely in Seller's capacity as collecting agent for Purchaser.

• The Clearing Accounts, the Deposit Account and all other Accounts will be under the sole control and dominion of Lender, and none of any Borrower, Operating Lessee or any Manager shall have any right of withdrawal therefrom.

• The MPF Provider shall have the right to rely on any executed Consent to Sale or Consent to Transfer in dealing with the Owner Bank and the Assisting Bank specified therein, including, without limitation, in debiting and crediting their respective Clearing Accounts.

• It is understood and agreed that the directions to the MPF Provider set forth in Section 6.1(b) hereof regarding debiting and crediting the Owner Bank’s and Assisting Bank’s Clearing Accounts with respect to the Serviced Mortgages require the MPF Provider to send general ledger entries to the Owner Bank’s and Assisting Bank’s respective general ledgers by means of electronic file reports to reflect the Owner Bank’s interests in, and the Selling PFI’s obligations with respect to, the Serviced Mortgages.

More Definitions of Clearing Accounts

Clearing Accounts means the accounts set forth on Part C of Schedule III, or such other accounts approved by the Administrative Agent, such approval not to be unreasonably withheld.

Clearing Accounts means those certain clearing accounts into which all Gross Income from Operations are transferred directly and from which all amounts on deposit are transferred to the Concentration Account (in the case of the BofA Clearing Accounts) and the Cash Management Account (in the case of all Clearing Accounts other than the BofA Clearing Accounts), which Clearing Accounts shall be Eligible Accounts.

Clearing Accounts shall have the meaning set forth in Section 2.7.1(a) hereof.

Clearing Accounts means the Eligible Accounts maintained at the Clearing Account Bank by the Individual Borrowers or a TRS Lessee in their respective names and shall include the Clearing Accounts, the Aggregate DACA Accounts and the Sub-DACA Accounts, each as defined in that certain Cash Management Agreement, dated as of February 27, 2015.

Clearing Accounts those certain accounts established pursuant to the Clearing Account Agreements.

Clearing Accounts. 4.1 "Clearing Banks" - 4.1 "Condemnation" - 8.3.1 "Deemed Approval Procedure" - 6.12.2 "Deposit Account" - 4.1 "Disclosure Document" - 10.1.2 "Early Termination Period" - 3.5 "Environmental Laws" - 5.1.32 "Equipment" - Mortgage "Event of Default" - 9.1 "Exchange Act" - 10.1.2 "Funds" - 4.10 "Grid" - 2.1.2 "Ground Lease" - Mortgage "Ground Rent Escrow Fund" - 4.6 "Guaranty" - 2.1.2 "Hazardous Substances" - 5.1.32 "Improvements" - Mortgage "Indemnified Liabilities" - 6.18 "Indemnified Party" - 6.18 "Insurance Premiums" - 8.1.2 "Insured Casualty" - 8.2.2 "Issuer" - 10.1.3 "Late Payment Charge" - 3.4.3 "Lender's Consultant" - 6.10.2 "Liabilities" - 10.1.3 "Licenses" - 5.1.22 "Loan" - 2.1 "LTV Ratio" - 2.6 "Master Deposit Account" - 4.1 "Master Account Agreement" - 4.1 "Mortgage" - Definition of "Loan Documents" "Note" - 2.1.2 "Oakridge Guarantor" - 4.13 "Oakridge Guaranty" - 4.13 "Oakridge Option Fund" - 4.13 "Operating Budget" - 6.9.5 "Operating Expense Reserve Fund" - 4.7.1

Clearing Accounts means, collectively, those eight (8) accounts established pursuant to the Clearing Accounts Agreement into which the Borrowers or Manager must deposit all Receipts received by it with respect to the Property pursuant to the terms of this Agreement. The Clearing Bank will disburse the funds in the Clearing Accounts in accordance with the terms of the Clearing Accounts Agreement.