Net Proceeds Account definition

Net Proceeds Account shall have the meaning set forth in Section 6.4(b)(ii) hereof.

Net Proceeds Account means the Net Proceeds Account of the Project Fund established by Section 7.1.

Net Proceeds Account means a deposit or securities account established to hold Net Proceeds from any Asset Sale (including the Air Medical Segment Sale) pending reinvestment pursuant to Section 2.10(c) or 2.10(d), as applicable, with respect to which the Borrower has entered into a customary account control agreement, in favor of the Collateral Agent and in form and substance reasonably satisfactory to it, providing for “control” (as defined in Sections 9-104 or 8-106 of the UCC, as applicable).

Examples of Net Proceeds Account in a sentence

• Amounts on deposit in the Net Proceeds Account shall not be commingled with any other account or fund established under this Indenture.

• The Trustee shall hold any such Net Proceeds paid to or for the benefit of the Authority in the Net Proceeds Account subject to further instructions of the Authority.

• No sale or investment proceeds of any Bonds and no Pledged Revenues may be deposited to the Net Proceeds Account.

• Notwithstanding the above, the Issuer may apply any Acquisition Net Proceeds standing to the credit to the Acquisition Net Proceeds Account towards a redemption or repurchase of Bonds, provided that such redemption or repurchase is made in connection with a redemption of the Bonds in full and that the Issuer confirms that such redemption or repurchase is permitted or consented to under the Super Senior RCF.

• As conditions precedent to each disbursement from the Project Fund and the Net Proceeds Account, the Authority will file or cause to be filed with the Trustee an executed copy of a requisition in substantially the form of [Exhibit B to the Development Agreement], except that with respect to the payment or reimbursement of costs of issuing the Bonds, the Authority will file with the Trustee a requisition signed by the Developer and the Authority.

More Definitions of Net Proceeds Account

Net Proceeds Account means the net proceeds account to be established by the Collateral Agent for the purpose of holding Net Proceeds in the circumstances contemplated in Section 3.2(a)(2) and Section 8.1(d)(3). The Net Proceeds Account shall be a segregated account established in the name of the Collateral Agent for the benefit of the Lenders.

Net Proceeds Account means the net proceeds account to be established by the Collateral Agent for the purpose of holding Net Proceeds in the circumstances contemplated in Section 3.2(a)(2).

Net Proceeds Account has the meaning set forth in Section 6.8(a).

Net Proceeds Account means the Account established by the Borrower with the Lender into which all Net Proceeds will be deposited and which shall be released only in accordance with Section 4.21 and/or Section 4.22 of this Agreement, as applicable.

Net Proceeds Account means, as of any particular date, the cumulative Net Proceeds as of and through such date less the sum of (a) the cumulative Seaboard Losses, if any, applied against the Net Proceeds Account as of and through such date by Seaboard in accordance with, and as adjusted by, Section 3.4, plus (b) the cumulative Net Proceeds Settled as of and through the day immediately prior to such date.

Net Proceeds Account means an interest bearing deposit account in the name of the Principal Borrower with the Bank and charged to the Bank (such charge to be in form and substance satisfactory to the Bank, acting reasonably) into which certain Net Proceeds are to be paid pursuant to this Agreement;

Net Proceeds Account means a bank account held with Cariparma – Crédit Agricole and opened by the Issuer for the purposes of Condition 5.5 (Use of Net Proceeds).