Operating Bank Account definition

Operating Bank Account means that certain bank account or accounts in which the City deposits the revenues it receives from the PFC and the Airport System.
Operating Bank Account means the Bank Accounts in the name of Owner for the payment of Operating Costs and any other costs to be paid pursuant to this Agreement and the deposit of monies related to the Property, which accounts shall be (i) separate and distinct from any other accounts, reserves or deposits required by this Agreement, and (ii) interest bearing accounts if such an account is reasonably available (all interest earned shall be retained in the Operating Bank Account).
Operating Bank Account for the Province, means a bank account used only for amounts accredited to the Provincial Fund;

Examples of Operating Bank Account in a sentence

  • Payment will automatically be withdrawn from the General Operating Bank Account following the monthly statement date.

  • For Licensed Facilities not using an armoured car service, the deposit must be made within three (3) banking days of the end of the Event to the Bingo Revenue Operating Bank Account in compliance with Subsection 8.1.4 b).

  • Home Energy Efficiency Programme Scotland (HEEPS): 1068 households have received energy efficiency measures through the HEEPs programme, equating to £6.2 million of investment in energy efficiency, which will result in lower energy consumption.

  • The Board will, where necessary, make use of other services that the Bank offers.The Business Manager will ensure that sufficient funds are in the Operating Bank Account to cover the value of payments made.Where necessary, arrangements are to be made to transfer funds from the Business Saver Account into the Operating Bank Account to cover such payments.

  • Currently the Board has its banking arrangements with ASB, Timaru Branch.Procedure:All receipts and payments will be processed through one Operating Bank Account.

  • The cost of any expenditures provided for in this Section 8.5 shall be paid for first from the Operating Bank Account and, if sufficient funds are not available, Manager shall request such necessary amounts from Owner.

  • The smart safe is in Village Hall and is a depository for cash and coins for the Operating Bank Account only.

  • Only the PHCC’s Cheque / Operating Bank Account is to be used for receipting of all monies.The PHCC makes payments from the PHCC Operating Bank Account via EFT, cheque or cash for Petty Cash purchases.Bank accounts are to be reconciled monthly or in accordance with banking cycle defined by the Finance and Audit Sub Committee.Bank Statements are to be signed by the Treasurer and presented to the Finance and Audit Committee, for report to the PHCC Board.

  • Expenditures made by Manager in connection with an emergency shall be paid from the Operating Bank Account.

  • The Plainfield Board of Education currently maintains separate checking accounts for Payroll Account, Payroll Agency Account, Food Service Account, Difference Card Account, Flex Account, Student Activity Accounts and the main Current Operating Bank Account.


More Definitions of Operating Bank Account

Operating Bank Account means a Bank Account of an Operating Bank Account Subsidiary that is listed on Amended Schedule 8.29(a) to Amendment No. 6.
Operating Bank Account means the Bank Account maintained by and in the name of the Company for the payment of Operating Costs and the deposit of monies related to the business, which account shall be separate and distinct from any other accounts, reserves or deposits required by this Agreement. The Operating Bank Account shall be an interest bearing account if such an account is reasonably available and all interest earned shall be retained in the Operating Bank Account.
Operating Bank Account means the Euroaccount held by the Issuer with the Account Bank pursuant to the Account Bank Agreement (or such replacement account as the Trustee may approve from time to time);
Operating Bank Account means the account with the Bank established by Owner pursuant to Section 3.3 and designated on Schedule 1.3, or such other account as may be designated by Owner to Servicer and including bank lock boxes established by Owner and assigned to such account(s).

Related to Operating Bank Account

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • 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.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Sellers in a written notice to the Purchaser at least five Business Days before the Closing.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Direct Account : means any Account which is not an ISA Account.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.