Operating Account definition

Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

Operating Account shall have the meaning set forth in Section 2.7(a).

Operating Account has the meaning set forth in Section 2.09(b).

Examples of Operating Account in a sentence

• Troon shall disburse the funds in the Operating Account for the purposes set forth in Articles 8.2, 8.4, and 8.5 below.

• If after payment of the Management Fee and all Golf Resort Expenses, and provided there are sufficient funds available in the Operating Account to satisfy the daily working capital needs of the Golf Resort, then any excess funds in the Operating Account shall be disbursed by Troon to the City.

• In addition to the Operating Account, Troon shall establish a payroll account, which shall be under the sole ownership and control of Troon or its designee.

• Upon the expiration or earlier termination of this Agreement, all funds remaining in the Operating Account after payment of the Golf Resort Expenses and the Management Fee shall be disbursed by Troon to the City.

• The Partnership shall establish on its books the following accounts, which shall be maintained so long as the Loan Obligations remain unsatisfied: a General Operating Account, a Tenant Security Deposit Account and a Reserve Account.

More Definitions of Operating Account

Operating Account. Is defined in Section 7-3.

Operating Account. Defined in Section 7.3(a)(iii).

Operating Account is defined in Section 1.3(a), and maintained in accordance with the terms of Xxxxx Fargo’s Commercial Account Agreement in effect for demand deposit accounts.

Operating Account means the account that you normally use for the day-to-day cash needs of your business, and may be either or both of a Canadian dollar and a U.S. dollar account.

Operating Account has the meaning given to such term in Section 3 hereof.

Operating Account means the account books and other accounting records maintained separately by the Contractor for the Petroleum Activities.

Operating Account shall have the meaning set forth in Section 5.4.1.1.