Project Proceeds Account definition

Project Proceeds Account means a separate interest-bearing account established by the Authority which shall be funded by any Project Proceeds received in connection with the Project, pursuant to Section 4.2(b) of this Agreement;
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Project Proceeds Account means a deposit account (as defined in Article 9 of the UCC) of the Borrower established and maintained at the Depositary Bank, which shall be established on or prior to the Account Establishment Date and shall at all times thereafter be subject to a Blocked Account Control Agreement.
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Examples of Project Proceeds Account in a sentence

  • There shall be deposited into the Subordinated Loan Lock-up Account (i) moneys from the Project Proceeds Account in accordance with Section 4.03(d)(xxiii)(A)(4), (ii) moneys from the Equity Lock-up Account in accordance with Section 4.15(c)(i)(B) and (iii) any Subdebt Equity Cure Amounts.

  • If the amount on deposit in the Rebate Account at any time is greater than the amount required under the Tax Regulatory Agreement, the excess shall be transferred to the Project Revenue Subaccount of the Project Proceeds Account.

  • The Project Proceeds Account and the Subaccounts thereof shall be held and administered by the Security Trustee in accordance with this Agreement and in the case of the Bond Proceeds (Project Costs) Subaccount, and the Bond Proceeds (Costs of Issuance) Subaccount, the Tax Regulatory Agreement and shall form part of the Collateral, subject to Section 5.06.

  • The Ramp Up Reserve Account was funded on the Phase 2 Completion Date in an amount equal to $6,000,000 from moneys on deposit in the Project Proceeds Account (other than from the Bond Proceeds (Project Costs) Subaccount or the Bond Proceeds (Costs of Issuance) Subaccount).

  • There shall be deposited into the Equity Lock-up Account, (i) moneys from the Project Proceeds Account in accordance with Section 4.03(d)(xxiii)(B) if at such time the Restricted Payment Conditions have not been met and (ii) moneys from the Sinking Fund Account in accordance with Section 4.20(c)(ii) if the conditions set out therein are met on any Calculation Date.

  • Any amount in deposit in the O&M Reserve Account that exceeds the O&M Reserve Requirement at any time shall be transferred to the Project Revenue Subaccount of the Project Proceeds Account.

  • There shall be deposited into the Rebate Account: (i) moneys transferred to the Rebate Account from the Project Proceeds Account pursuant to Section 4.03(d)(iv) hereof; and (ii) any other moneys received by the Security Trustee that are accompanied by directions that such moneys are to be deposited into the Rebate Account.

  • The Security Trustee shall credit such amount to the Project Revenue Subaccount of the Project Proceeds Account until such time as the Security Trustee receives instructions from the Concessionaire in accordance herewith stating that such amount should be credited to another Project Account in accordance with the Funding Documents, in which case the Security Trustee shall credit such amount to the Project Account designated by the Concessionaire.

  • There shall be deposited into the HPTE Cash Flow Sharing Account moneys transferred from the Project Proceeds Account pursuant to Section 4.03(d)(xxiii)(A)(2).

  • There shall be deposited into the Subordinated Loan Prepayment Account moneys from the Project Proceeds Account in accordance with Section 4.03(d)(xxiii)(A)(3)(i).

Related to Project Proceeds Account

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

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

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Project Fund means the fund required to be established by this Resolution for the deposit of the proceeds of the Bonds.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • 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.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • 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.

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Completion Accounts has the meaning given in Paragraph 4.1, 4.2(A) or 4.2(B) (as applicable) of Part A of Schedule 8 (Completion Accounts);

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.