ALLOCATIONS FROM ACCOUNTS Sample Clauses

The "Allocations from Accounts" clause defines how funds or assets held in specific accounts are distributed among parties. Typically, this clause outlines the timing, method, and priority of distributions, such as periodic payments to investors or covering certain expenses before profits are shared. Its core practical function is to ensure transparency and fairness in the management and disbursement of account-held resources, preventing disputes over entitlements and clarifying the process for all involved parties.
ALLOCATIONS FROM ACCOUNTS. 13 Section 5.1 Allocations From the Revenue Account......................................13 Section 5.2 Allocations from Operating Account........................................15 Section 5.3 Allocations From the Debt Service Account.................................15 Section 5.4 Allocations From the Extraordinary Proceeds Account.......................15 Section 5.5 Allocations from the Insurance Proceeds Account...........................16 Section 5.6 Allocations From the Replacement Capital Expenditure Pre-Funding Account..16 Section 5.7 Allocations From the Debt Service Reserve Account.........................17 Section 5.8 Allocations From the Prepayment Account...................................17 Section 5.9 Payments To Secured Parties...............................................17 Section 5.10 Defaults..................................................................17
View SourceView Similar (2)
ALLOCATIONS FROM ACCOUNTS. Section 5.1 Allocations from the Collection Account. (i) On the Restructuring Effective Date and each anniversary thereof, the Collateral Agent shall transfer an amount on deposit in the Collection Account, equal to the fee specified in the Collateral Agent Fee Side Letter with respect to the next year to the account specified in the Collateral Agent Fee Side Letter. (ii) On each Determination Date for which, and on each other date that a weekly shortfall notice is given as permitted by Section 3.2 and that is no more than three (3) Business Days after which, the Collateral Agent shall have received a Shortfall Notice or weekly shortfall notice with regard to either Borrower Subsidiary, the Collateral Agent shall, to the extent funds are available in the Collection Account, transfer an amount sufficient to cover such Subsidiary Account Shortfall to the relevant Subsidiary Revenue Account or, if the amount on deposit in the Collection Account is not sufficient to cover 100% of the amount of such Subsidiary Account Shortfall, the Collateral Agent shall transfer 100% of the amount on deposit in the Collection Account to the relevant Subsidiary Revenue Account. (b) On each Determination Date for which, and on each other date that a weekly shortfall notice is given as permitted by Section 3.2 and that is no more than three (3) Business Days after which, the Collateral Agent shall have received a Shortfall Notice or weekly shortfall notice with regard to both Borrower Subsidiaries, the Collateral Agent shall transfer an amount sufficient to cover each Subsidiary Account Shortfall to each Borrower Subsidiary's Subsidiary Revenue Account or, if the amount on deposit in the Collection Account is not sufficient to cover 100% of the aggregate amount of the Subsidiary Account Shortfalls, the Collateral Agent shall transfer each Borrower Subsidiary's Pro Rata Share of the amount on deposit in the Collection Account into its Subsidiary Revenue Account. (c) On each date that is the second Determination Date immediately following each Quarterly Payment Date with respect to which Holdco shall have delivered a Debt Service Non-Compliance Notice, the Collateral Agent (after making any pending withdrawals required under the foregoing subsections 5.1(a) and (b)) shall: first, transfer the Debt Service Coverage Compliance Prepayment Amount(s) to the relevant Subsidiary Prepayment Account, or, if the amount on deposit in the Collection Account is less than the Debt Service Cover...
View Source
ALLOCATIONS FROM ACCOUNTS. Section 4.01 Allocations From the Dollar Disbursement Account............................. 16 Section 4.02 Allocations From the Dollar Revenue Account.................................. 17 Section 4.03 Allocations from the Dollar Construction Account............................. 18 Section 4.04 Allocations From the Dollar Loss Proceeds Account............................ 18 Section 4.05 Payments To Secured Parties................................................
View Source
ALLOCATIONS FROM ACCOUNTS 
View Source

Related to ALLOCATIONS FROM ACCOUNTS

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.

  • Account Allocations In the event that any of the Sellers is unable for any reason to transfer Receivables to the Trust in accordance with the provisions of this Agreement, including by reason of the application of the provisions of Section 9.02 or any order of any Governmental Authority (a “Transfer Restriction Event”), then, in any such event, (a) the Sellers and the Servicer agree (except as prohibited by any such order) to allocate and pay to the Trust, after the date of such inability, all Collections, including Collections of Receivables transferred to the Trust prior to the occurrence of such event, and all amounts which would have constituted Collections but for such Seller’s inability to transfer Receivables (up to an aggregate amount equal to the amount of Receivables transferred to the Trust by such Seller in the Trust on such date), (b) the Sellers and the Servicer agree that such amounts will be applied as Collections in accordance with Article IV and the terms of each Supplement and (c) for so long as the allocation and application of all Collections and all amounts that would have constituted Collections are made in accordance with clauses (a) and (b) above, Principal Receivables and all amounts which would have constituted Principal Receivables but for such Seller’s inability to transfer Receivables to the Trust which are written off as uncollectible in accordance with this Agreement shall continue to be allocated in accordance with Article IV and the terms of each Supplement. For the purpose of the immediately preceding sentence, the Sellers and the Servicer shall treat the first received Collections with respect to the Accounts as allocable to the Trust until the Trust shall have been allocated and paid Collections in an amount equal to the aggregate amount of Principal Receivables in the Trust as of the date of the occurrence of such event. If any of the Sellers or the Servicer is unable pursuant to any Requirements of Law to allocate Collections as described above, the Sellers and the Servicer agree that, after the occurrence of such event, payments on each Account with respect to the principal balance of such Account shall be allocated first to the oldest principal balance of such Account and shall have such payments applied as Collections in accordance with Article IV and the terms of each Supplement. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables which have been conveyed to the Trust shall continue to be a part of the Trust notwithstanding any cessation of the transfer of additional Principal Receivables to the Trust and Collections with respect thereto shall continue to be allocated and paid in accordance with Article IV and the terms of each Supplement.

  • User Accounts End User shall ensure that only Authorized Users can access the Services. User accounts may not be shared among individuals or used to provide access to the Services to individuals who are not the individual associated with the corresponding user account.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Master Servicer shall withdraw from the Master Servicer Collection Account (i) any expenses recoverable by the Trustee, the Master Servicer or the Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14. (c) In addition, on or before each Distribution Account Deposit Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans. (d) No later than 3:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all Available Funds on deposit in the Master Servicer Collection Account with respect to the related Distribution Date to the Trustee for deposit in the Distribution Account.

  • Operating Accounts (a) Maintain all of Borrower’s Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent, which Control Agreement must be in such form and substances as is reasonably acceptable to Collateral Agent (it being agreed and understood that the Control Agreements that Collateral Agent is entering into with respect to Borrower’s Collateral Accounts maintained with Bank of America on the Effective Date are not in such form and substance as is not reasonably satisfactory to Collateral Agent). (b) Borrower shall provide Collateral Agent five (5) days’ prior written notice before Borrower or any of its Subsidiaries establishes any Collateral Account. In addition, for each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution at or with which such Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder prior to the establishment of such Collateral Account, which Control Agreement must be in such form and substance as is reasonably satisfactory to Collateral Agent and may not be terminated without prior written consent of Collateral Agent. The provisions of the previous sentence and subsection (a) above shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates and (ii) BofA Credit Card Account so long as such account is maintained exclusively for the purpose of securitizing Borrower’s Indebtedness described in clause (g) of the definition of Permitted Indebtedness and the balance in such account does not exceed Three Hundred One Thousand Dollars ($301,000.00). (c) Neither Borrower nor any of its Subsidiaries shall maintain any Collateral Accounts except Collateral Accounts maintained in accordance with Sections 6.6(a) and (b); provided, however, Borrower may continue to maintain its Collateral Accounts, set forth on the Perfection Certificates on the Effective Date, with Bank of America; provided, further, that Borrower shall close all of its Collateral Accounts maintained with Bank of America on the Effective Date (other than the BofA Credit Card Account) and deliver to Collateral Agent evidence (in such form and substance as is reasonably acceptable to Collateral Agent) of closure of all of such Collateral Accounts within thirty (30) days after the Effective Date.