Examples of Income Account in a sentence

Upon the occurrence and during the continuation of an Event of Default, the Seller shall have no right to direct withdrawal or application of funds in the Income Account and the Escrow Account unless authorized to do so in writing by the Agent.
The Agent may cause all amounts on deposit in the Income Account to be paid to it or its designee for application as provided in Section 18.4. The Agent or its designee shall direct payments from the Escrow Account for the purposes for which such funds are deposited into the Escrow Account and shall comply with all Legal Requirements applicable to the operation of the Income Account and the Escrow Account, including any Agency guidelines with respect thereto.
Subject to Section 8.3, amounts on deposit in the Income Account shall be used by the Seller to pay its fees as Servicer while it serves in such capacity, and may be used to pay to the Agent amounts due under this Agreement for Margin Deficit or Price Differential and for any other lawful purpose.

More Definitions of Income Account

Income Account means an account referred to in paragraph 5 of Part A of Schedule 3 to this Agreement;

Income Account means the Account by that name created and established by Section 4.1 hereof.

Income Account shall have the meaning specified in Section 5 of this Agreement.

Income Account means a demand deposit account established by the Seller with a bank satisfactory to the Administrative Agent under the provisions of Section 8, which shall be subject to the control of the Administrative Agent.

Income Account means a demand deposit account established by the Seller with a bank satisfactory to the Agent under the provisions of Section 8, which shall be subject to the control of the Agent.

Income Account shall have the meaning specified in Section 4 of this Agreement.

Income Account means an Account set up by the Service Provider to receive the Service Provider’s Income, which will be transferred to this account from the Revenue Account.