Reserve Account Requirement definition

Reserve Account Requirement means on any Payment Date, an amount equal to $15,178,692.88; provided, however, that on any Payment Date (after taking into account all distributions from the 2014-A SUBI Collection Account on such date) on which the Note Balance is zero, the “Reserve Account Requirement” shall be an amount equal to $0.

Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.

Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance and (y) the initial Class B Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date and (y) the Class B Note Balance on such Distribution Date, before giving effect to the payment of principal on such Distribution Date.

Examples of Reserve Account Requirement in a sentence

• The Borrower shall maintain each of the Senior Bonds Debt Service Reserve Account and the TIFIA Loans Debt Service Reserve Account in an amount equal to the Senior Bonds Debt Service Reserve Account Requirement and the TIFIA Loans Debt Service Reserve Account Requirement respectively, in accordance with the provisions of the Master Trust Indenture.

• Flow of Funds), the City shall maintain the WIFIA Reserve Account in an amount equal to the WIFIA Reserve Account Requirement.

• The Transportation Enterprise shall fund the TIFIA Loans Debt Service Reserve Account to the TIFIA Loan Debt Service Reserve Account Requirement by the Substantial Completion Date for the X.X. 00 Xxxxxxx Xxxxx Project–Phase 1 from the Pledged Revenues Account pursuant to Section 3.03(c) hereof, from the proceeds of Additional Obligations or from other available moneys.

• The Borrower shall maintain the Senior Bonds Debt Service Reserve Account in an amount equal to the Senior Bonds Debt Service Reserve Account Requirement, the TIFIA Loans Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, and the Junior Bonds Debt Service Reserve Account in an amount equal to the Junior Bonds Debt Service Reserve Account Requirement, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

• Any Supplemental Indenture providing for the issuance of Bonds may provide that the Reserve Account Requirement set forth therein may be satisfied by a surety bond, letter of credit or other instrument.

More Definitions of Reserve Account Requirement

Reserve Account Requirement means the least of: (i) Maximum Annual Debt Service on the Bonds as of the date of issuance, (ii) 125% of average Annual Debt Service on the Bonds as of the date of issuance, and (iii) 10% of the proceeds of the Bonds; provided, however, that such amount shall be reduced by the amount of any transfers made pursuant to Section 6.7(c); and provided further that as a result of (1) an optional redemption pursuant to Section 4.3 of this Indenture or (2) an extraordinary optional redemption pursuant to Section 4.4 of this Indenture, the Reserve Account Requirement shall be reduced by a percentage equal to the pro rata principal amount of Bonds redeemed by such redemption divided by the total principal amount of the Outstanding Bonds prior to such redemption. As of the Delivery Date, the Reserve Account Requirement is $ which is an amount equal to the Reserve Account Requirement defined above.

Reserve Account Requirement means, on any Payment Date, an amount equal to 0.50% of the aggregate Securitization Value of the 2020-B Leases and 2020-B Vehicles as of the Cutoff Date; provided, however, that on any Payment Date (after taking into account all distributions from the 2020-B SUBI Collection Account on such date) on which the Note Balance is zero, the “Reserve Account Requirement” shall be an amount equal to $0.

Reserve Account Requirement means on any Payment Date, an amount equal to $21,158,498.40.

Reserve Account Requirement means, (a) on any Payment Date on or prior to the payment in full of the Class A-2 Notes, an amount equal to at least 0.65% of the aggregate Securitization Value of the 2022-A Leases and 2022-A Vehicles as of the Cutoff Date, and (b) on any Payment Date following the payment in full of the Class A-2 Notes, an amount equal to at least 0.50% of the aggregate Securitization Value of the 2022-A Leases and 2022-A Vehicles as of the Cutoff Date; provided, however, that on any Payment Date (after taking into account all distributions from the 2022-A Series Collection Account on such date) on which the Note Balance is zero, the “Reserve Account Requirement” shall be an amount equal to $0.

Reserve Account Requirement means, with respect to a Series of Bonds, the amount, if any, prescribed by the Supplemental Resolution authorizing such Series of Bonds.

Reserve Account Requirement means as of the date of any calculation, the least of (a) 10% of the original aggregate principal amount of the Bonds (excluding Bonds refunded with the proceeds of subsequently issued Bonds), (b) Maximum Annual Debt Service, and (c) 125% of Average Annual Debt Service.

Reserve Account Requirement means on any Payment Date, an amount equal to 0.50% of the aggregate Securitization Value of the 2019-B Leases and 2019-B Vehicles as of the Cutoff Date; provided, however, that on any Payment Date (after taking into account all distributions from the 2019-B SUBI Collection Account on such date) on which the Note Balance is zero, the “Reserve Account Requirement” shall be an amount equal to $0.