Class N Reserve Account definition

Class N Reserve Account. The account designated as such, established and maintained pursuant to Section 8.2(a) of the Indenture.
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Class N Reserve Account. The trust account created and maintained by the Indenture Trustee at the Account Holder, which shall be denominated “Computershare Trust Company, N.A., as Indenture Trustee for Computershare Trust Company, N.A., as Indenture Trustee for the benefit of the Holders of Carvana Auto Receivables Trust 2022-P1 Asset-Backed Class N Notes.” The Reserve Account shall be an Eligible Deposit Account.
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Examples of Class N Reserve Account in a sentence

  • All income or other gain (net of losses and investment expenses) from investments of monies deposited in the Collection Account, the Reserve Account or the Class N Reserve Account shall be withdrawn (or caused to be withdrawn) by the Indenture Trustee from such accounts and distributed as provided herein to the Depositor.

  • The Collection Account, the Note Distribution Account, the Reserve Account and the Class N Reserve Account, collectively.

  • The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Initial Deposit and the Class N Reserve Account Initial Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • If the Indenture Trustee collects any money or property pursuant to this Article V, it shall, or shall direct the Paying Agent to, pay out such money or property together with all Available Funds and all amounts on deposit in the Collection Account, the Note Distribution Account, the Reserve Account and the Class N Reserve Account in accordance with, and in the order of priority set forth in, Section 2.7(f) hereof.

  • On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate.

  • The Indenture Trustee shall establish, initially with itself, the Class N Reserve Account in the name of the Indenture Trustee for the benefit of the Class N Noteholders.

  • On or before the Closing Date, the Depositor shall deposit the Class N Reserve Account Initial Deposit into the Class N Reserve Account from the net proceeds of the sale of the Notes.

  • The Indenture Trustee shall establish with the Account Holder the Class N Reserve Account in the name of the Indenture Trustee for the benefit of the Class N Noteholders.

  • The Indenture Trustee shall, at such time as there are no Class N Notes Outstanding and all sums due to the Indenture Trustee in connection with, and reasonably attributable (as determined by the Administrator) to, such Class N Notes pursuant to Section 6.7 have been paid, release any remaining portion of the Collateral that secured the Class N Notes from the Lien of this Indenture and release to the Depositor any funds then on deposit in the Class N Reserve Account, including Investment Earnings.

  • The Collection Account, the Note Distribution Account, the Reserve Account and the Class N Reserve Account shall be Eligible Deposit Accounts initially established with Wells Fargo Bank, National Association, as the Account Holder.

Related to Class N Reserve Account

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.