Acquisition Account as a subaccount of the Collection Account, with account number 275176002; and
Acquisition Account. There shall be deposited into the Acquisition Account moneys from proceeds of the Notes. Financed Student Loans shall be held by the Indenture Trustee or its agent or bailee and shall be pledged to the Trust Estate and accounted for as a part of the Acquisition Account. Moneys on deposit in the Acquisition Account shall be used, upon Issuer Order, solely to pay costs of issuance of the Notes and, upon receipt by the Indenture Trustee of a Student Loan Acquisition Certificate, to acquire Student Loans at a price that would permit the results of the Cash Flows provided to each Rating Agency on the Closing Date to be sustained as certified to the Indenture Trustee on each Student Loan Acquisition Certificate; provided that such price may be increased if Rating Confirmation is obtained, based on new Cash Flows containing such assumptions as the Issuer shall reasonably determine. No amounts shall be transferred from the Acquisition Account to acquire or originate Student Loans having characteristics that are materially and adversely different from the characteristics of the Financed Student Loans shown in the most recent Cash Flows provided to the Rating Agencies, which characteristics include but are not limited to loan type, federal benefits, applicable borrower benefit programs, and provisions and servicing of such Financed Student Loans required by the Act as amended through the date hereof, unless the Issuer first obtains a Rating Confirmation. Any such Issuer Order or Student Loan Acquisition Certificate shall state that such proposed use of moneys in the Acquisition Account is in compliance with the provisions of this Indenture. Amounts remaining in the Acquisition Account on May 31, 2003, after giving effect to all withdrawals from the Acquisition Account on or prior to that date, will be transferred to the Collection Account; provided, however, the transfer of those amounts may be delayed until a later date if the Issuer has received a Rating Confirmation with respect to that delay. On each Quarterly Distribution Date occurring while any LIBOR Notes are Outstanding, and thereafter on each Monthly Allocation Date, to the extent amounts on deposit in the Distribution Account and allocated to the payment of interest on the Notes, amounts on deposit in the Collection Account representing interest receipts on the Financed Student Loans, and amounts on deposit in the Capitalized Interest Account are insufficient to make the transfers required by clauses (i) ...
Acquisition Account as a subaccount of the Collection Account, with account number [_________]; and
Acquisition Account. On the Closing Date, $264,000,000 of the proceeds of the Loan and the proceeds of the sale of the Senior Notes shall be deposited into the Acquisition Account. The proceeds of each Subordinated Note Advance under the Subordinated Note shall be deposited into the Acquisition Account on each Subordinated Note Funding Date. All Net Refunded Amounts received by the Secured Party or returned Syndication Agent Fees and Originating Lender Premiums with respect to Refunded Financed Loans, as indicated in the Monthly Report, shall be deposited into the Acquisition Account. The Financed Loans shall be held by the Secured Party or an agent, bailee or custodian approved by the Creditors (which may be the Servicer) and shall be pledged as part of the Trust Estate and held as a part of the Acquisition Account. Moneys on deposit in the Acquisition Account shall be used, (i) upon receipt by the Secured Party of an Eligible Loans Acquisition Certificate, to acquire Financed Loans pursuant to the Loan Purchase Agreement and to pay the Syndication Agent Fee to the Syndication Agent on each day Financed Loans are purchased by the Issuer, and (ii) on January 6, 2011, to pay to the Senior Creditors the Amendment Consent Fee. As indicated in the related Eligible Loan Acquisition Certificate, (a) the portion of the Purchase Price for each Financed Loan acquired pursuant to the Loan Purchase Agreement equal to the related Senior Purchase Price shall be funded from amounts on deposit in the Acquisition Account in respect of the proceeds of the Loan and the proceeds of the sale of the Senior Notes and (b) the portion of the Purchase Price for each Financed Loan acquired pursuant to the Loan Purchase Agreement equal to the related Subordinated Purchase Price shall be funded from amounts on deposit in the Acquisition Account in respect of the proceeds of Subordinated Note Advances. Except in connection with the exercise of remedies pursuant to Article VI hereof, or as specifically set forth in the Loan Purchase Agreement, Financed Loans shall not be sold, transferred or otherwise disposed of by the Issuer while any Credit is Outstanding. As indicated in the related Payment Date Certificate, on each Payment Date on and after the earlier of (i) the Payment Date in July 2011 or (ii) the first Payment Date immediately following the end of the Transfer Period, the Secured Party shall transfer to the Collection Account any amounts remaining on deposit in the Acquisition Account in excess of...
Acquisition Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Acquisition Advance and such other debits and credits as shall be appropriate in connection with the Acquisition of Credit (the "Acquisition Account"). The Bank shall provide the Borrowers with a monthly statement of the Borrowers' Acquisition Account, which statement shall be considered to be correct and conclusively binding on the Borrowers unless any Borrower notifies the Bank to the contrary within 18 months after such Borrower's receipt of any such statement which it deems to be incorrect. Each Borrower hereby authorizes the Bank, if and to the extent payment owed to the Bank under the Acquisition Line of Credit is not made when due, to charge, from time to time, against any or all of any Borrower's deposit accounts with the Bank any amount so due.
Acquisition Account. To (A) deposit net proceeds from the issuance of Notes (after the payment of sales expenses pursuant to Section 2.01(b) hereof) into the Acquisition Account as described in Section 2.01 and moneys transferred to the Acquisition Account from the Collection Fund pursuant to Section 5.01(b)(iii)(C) and (E) below, (B) invest the amounts in the Acquisition Account in Permitted Investments as provided in Section 5.01(d) below, (C) withdraw and transfer as directed in writing (or orally, confirmed in writing) by the Debtor to purchase Eligible Receivables and Assets described on schedules delivered to the Trustee in which the Debtor, the Servicer or Administrator certifies in writing that the Receivables and Assets to be acquired meet the requirements of an Asset or Eligible Receivable, (D) to redeem Notes in accordance with the provisions of this Note Agreement and any supplemental Note Agreement, and (E) if on any Interest Payment Date or upon the maturity of a Note there are not sufficient moneys on deposit in the Collection Account to make the transfers required by Section 5.01(f)(iv) or (v), or both, to timely pay amounts due with respect to the Notes, then, as directed by the Debtor in writing, the Trustee shall transfer from the Acquisition Account to the Collection Account an amount of funds not exceeding the amount of any such deficiency.[IF FUNDS FROM NEW NOTES CAN BE USED TO REDEEM OLD NOTES, THIS SHOULD BE DISCLOSED-CURRENTLY IT IS NOT A PERMISSIBLE USE OF NOTE PROCEEDS] Any direction by given by the Debtor pursuant to Section 5.01(b)(i)(C) above shall state that such proposed use of moneys in the Acquisition Account is in compliance with the provisions of this Note agreement. If the Debtor determines that all or any portion of such moneys cannot be so used, then the Debtor may direct the Trustee in writing to redeem Notes in accordance with any supplemental Note Agreement.
Acquisition Account. Use or transfer cash or Cash Equivalents funded by Bank into Borrower’s account no. XXX-XXX-9826 in any way other than to fund up to Six Million Dollars ($6,000,000) of the purchase price paid by Borrower to Intrinsyc in connection with the Intrinsyc Acquisition.