Guaranty Reserve definition

Guaranty Reserve shall have the meaning described in Section 9.2.1(a)((ii)(A) of the Development Agreement.
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Guaranty Reserve shall have the meaning described in Section 9.2.1(a)((ii)(A).
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Guaranty Reserve means a reserve against Availability equal at any time to the lesser of the IBMCC Obligations or $22,000,000.
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Examples of Guaranty Reserve in a sentence

  • Payment hereunder is expressly limited to monies constituting the guarantor's Guaranty Reserve Fund as established in accordance with the regulations governing the Federal Family Education Loan Program as found in 34 CFR 682.410(a)(1) or as provided under Title IV, Part B, Section 432(o) of the Higher Education Act of 1965, as amended.

  • Additions to the Lender Guaranty Reserve shall be established concurrently with the issuance of each Lender Guaranty.

  • This fund consists of the Insurance Reserve and the Guaranty Reserve for the respective discharge of potential future liabilities arising from insurance or from guaranties issued under Section 234(b) of the FAA.

  • Failure to return this form will delay your final admission to the AIFS Partnership Program.

  • Payment hereunder is expressly limited to monies constituting the guarantor’s Guaranty Reserve Fund as established in accordance with the regulations governing the Federal Family Education Loan Program as found in 34 CFR 682.410(a)(1) or as provided under Title IV, Part B, Section 432(o) of the Higher Education Act of 1965, as amended.

  • That the Commission guarantees, and said Commission is hereby required, to use the funds on deposit in the Revenue Bond Guaranty Reserve Account to meet amortization payments as guaranteed under this Act as the same become due, in the event, and to the extent, the issuer of the bonds is unable to meet such payments in accordance with the terms of the bond indenture when called on to do so by the trustee of the bondholders.

  • That the Authority guarantees, and said Authority is hereby required, to use the funds on deposit in the Bond Guaranty Reserve Account to meet amor- tization payments as guaranteed under this Act as the same become due, in the event, and to the extent, the Developer is unable to meet such payments in accordance with the terms of the bond indenture when called on to do so by the trustee of the bondholders.

  • That single reserve may, on and after the date of enactment of the International Security and Development Coopera- tion Act of 1985, be referred to as the ‘‘Guaranty Reserve Fund.’’ Funds provided for necessary expenses to carry out the provisions of section 23 of the Arms Export Control Act and of section 503 of the Foreign Assistance Act of 1961, as amended, may be used to pay claims on the Guaranty Reserve Fund to the extent that funds in the Guaranty Reserve Fund are inadequate for that purpose.

  • Funding MechanismAIF is capitalized through the use of an ADFA guaranty backed first by $10 million from its Bond Guaranty Reserve Account and second by an Arkansas income tax credit allocation of $60 million on a contingent basis.

  • Funds provided for necessary expenses to carry out the provisions of section 2763 of this title and of section 2311 of this title may be used to pay claims on the Guaranty Reserve Fund to the extent that funds in the Guaranty Reserve Fund are inadequate for that purpose.


More Definitions of Guaranty Reserve

Guaranty Reserve means, at any time, an amount equal to the lesser of (a) $13,000,000, and (b) the sum of (i) the outstanding principal under the Bridge Note, together with all accrued and unpaid interest and fees thereon, and all other amounts then due and payable in respect of the Bridge Note, plus (ii) the outstanding principal amount under the Certificate, together with all accrued and unpaid yield and fees thereon, and all other amounts then due and payable in respect of the Certificate.
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Guaranty Reserve means (i) at any time that no Default or Event of Default exists, all or any portion of the amount in excess of $3,000,000 of total obligations that are guaranteed by a Loan Party pursuant to SECTION 12.3(iii) that the Administrative Agent, in its sole discretion, determines should constitute the Guaranty Reserve, and (ii) at any time that a Default or Event of Default exists, all or any portion of the total obligations that are guaranteed by a Loan Party pursuant to SECTION 12.3(iii) that the Administrative Agent, in its sole discretion, determines should constitute the Guaranty Reserve.
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Related to Guaranty Reserve

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Guaranty fund means the fund established by a local entity under Section 11-42-701.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • L/C Cash Collateral Account means an account of the Borrower to be maintained with the Administrative Agent, in the name of the Administrative Agent and under the sole control and dominion of the Administrative Agent and subject to the terms of this Agreement.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Interest Reserve Account As defined in Section 3.4(d).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • 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.

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.