Expense Reserve Account definition

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

Expense Reserve Account means the account of the Issuer established with National Westminster Bank plc for payment of expenses incurred by the Issuer in connection with, inter alia, the issue of the Bonds;

Expense Reserve Account means the ledger maintained by the Account Bank on behalf of the Issuers, identification number LUN1 (in the case of Lunar Funding I Limited), LUN3 (in the case of Lunar Funding III Limited), LUN4 (in the case of Lunar Funding IV Limited) and LUN5 (in the case of Lunar Funding V PLC), or such other identification number as is ascribed in the case of any Additional Issuer, which records amounts standing to the credit of the account of each of the Issuers with the Account Bank out of which Administrative Expenses will be payable from time to time.

Examples of Expense Reserve Account in a sentence

• Prior to Notice of Exclusive Control, the Collateral Manager shall, pursuant to written instructions (which may be in the form of standing instructions), direct the Collateral Agent to invest, or cause the investment of, all uninvested amounts on deposit in the Collection Account or the Expense Reserve Account in Permitted Investments.

• At any time, the Collateral Manager may direct the Collateral Agent and the Securities Intermediary to withdraw from the Expense Reserve Account and pay to (i) the Collateral Manager an amount equal to any Collateral Manager Reimbursable Expenses or (ii) the applicable Person an amount equal to any invoice received pursuant to Section 2.11(b).

• All earnings (net of losses and investment expenses) thereon shall be retained or deposited into the Collection Account or the Expense Reserve Account and shall be applied on each Payment Date pursuant to the provisions of Section 2.7 or Section 2.8(a) (as applicable).

More Definitions of Expense Reserve Account

Expense Reserve Account. A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Expense Reserve Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

Expense Reserve Account has the meaning set forth in Section 8.01(a).

Expense Reserve Account means the interest bearing account of the Issuer so entitled and held with the Account Bank.

Expense Reserve Account. An Eligible Account established in accordance with Section 8.05(d).

Expense Reserve Account means the account established pursuant to Section 10.1(b) and described in Section 10.3(e).

Expense Reserve Account means the interest-bearing account of that name held in the name of the Issuer with the Account Bank into which amounts are paid in accordance with Condition 3(c)(i) (Application of Interest Proceeds) and out of which certain Trustee Fees and Expenses and Administrative Expenses may be paid during a Due Period.

Expense Reserve Account means an interest bearing account in the name of the Issuer so entitled and held by the Account Bank.