Financing Account means: (a) the Credit Account if the Financing Agreement provides for a Credit only; (b) the Grant Account if the Financing Agreement provides for a Grant only; or (c) the Credit Account in respect of the Credit and the Grant Account in respect of the Grant if the Financing Agreement provides for a Credit and a Grant.
Financing Account means a non-budgetary account (i.e., its transactions are excluded from the budget totals) that records all of the cash flows resulting from post–1991 direct loans or loan guarantees. It disburses loans, collects repayments and fees, makes claim payments, holds balances, borrows from Treasury, earns or pays interest, and receives the subsidy cost payment from the credit program account. There is at least one financing account associated with each program account. Separate financing accounts are required for direct loan cash flows and for loan guarantee cash flows. Financing account schedules are printed in the Budget Appendix together with the program account.
Financing Account means, as the context may require, the Credit Account, if this Agreement is a Development Credit Agreement, or the Grant Account, if this Agreement is a Development Grant Agreement;
Examples of Financing Account in a sentence
If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date.
More Definitions of Financing Account
Financing Account means the account opened by the Bank in its books in the name of the Recipient to which the Financing is credited in accordance with Section 3.01 (a).
Financing Account means, collectively, the Loan Account and the account opened by the Bank in its books in the name of the Borrower to which the amount of the Concessional Portion of the Financing is credited.”
Financing Account means the deposit account referred to in paragraph 3 of Schedule 6 to this Agreement;
Financing Account means an account established by the corporation for the purpose of tracking the amounts paid and payable under a pre-authorized payment agreement. (« compte de paiement »)
Financing Account means a special purpose bank account established by the Corporation or any Corporation Subsidiary specifically to receive and hold the funds contemplated by Section 1.2(c) and maintained by the Corporation or the applicable Corporation Subsidiary following the Closing to ensure that the funds deposited therein are used in accordance with the Finance Account Agreement.
Financing Account means the Credit Accounts for each of Credit A and Credit B (each as defined in the Financing Agreement).”