Examples of Maintenance Reserve Account in a sentence
On each Calculation Date, the Administrative Agent shall calculate the difference between the Maintenance Required Amount for the related Payment Date and the amount available in the Maintenance Reserve Account as of such Payment Date (such difference, if positive, the “Additional Maintenance Reserve Amount” for such Payment Date).
Any funds then on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account related to the ACS Group Aircraft subject to such sale or other disposition shall be applied on a basis consistent with the terms of the Lease related to such ACS Group Aircraft, if any, or as otherwise provided by the relevant agreements related to such sale or other disposition.
The Trustee shall apply Available Collections to make a deposit into the Maintenance Reserve Account on each such Payment Date in accordance with Section 3.09 hereof.
To the extent that the Issuer needs to expend funds to perform maintenance on any Asset, such funds will be withdrawn first from the Maintenance Reserve Account, the Security Deposit Account or the Lessee Funded Account (as applicable) and, second, to the extent of any deficiency, from the Expense Account.
To the extent that any amount on deposit in a Lessee Funded Account, the Security Deposit Account or the Maintenance Reserve Account is retained by the ACS Group following such sale and application as provided in the preceding sentence, such amounts shall be deposited into the Collections Account.