Contribution Account Sample Clauses
A Contribution Account clause establishes a dedicated account where contributions, such as funds or assets, are deposited for a specific purpose, often related to a joint venture, partnership, or project. This clause typically outlines who is responsible for making contributions, the timing and method of deposits, and how the account will be managed or accessed. By clearly defining the procedures and responsibilities related to the contribution account, the clause ensures transparency and accountability, helping to prevent disputes over funding and resource allocation.
Contribution Account. In accordance with this Indenture and the Securities Account Control Agreement, the Trustee shall, on or prior to the ClosingRefinancing Date, establish with the corporate trust department of the Custodian a single segregated non-interest bearing account, which shall be subject to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties, which shall be designated as the “Contribution Account”, which account shall held in the name of “ABPCI Direct Lending Fund CLO VI Ltd”, and which shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. At any time during or after the Reinvestment Period, any Holder or beneficial owner of a Subordinated Note may, upon written notice to the Trustee and the Collateral Manager, (i) make a contribution of Cash, Eligible Investments or Collateral Obligations to the Issuer or (ii) solely in the case of Holders of Certificated Notes, by notice given in accordance with this Indenture at least 10 Business Days prior to a Payment Date, designate any portion of Interest Proceeds or Principal Proceeds that would otherwise be distributed on its Subordinated Notes in accordance with the Priority of Payments as a contribution to the Issuer (each, a “Contribution” and each such Holder, a “Contributor”); provided that each Contribution shall be no less than $500,000 (taken together with all Contributions made on the same Business Day); provided, further, that the total number of Contributions made pursuant to clause (i) and clause (ii) shall not in the aggregate exceed three Contributions (treating all Contributions made on the same Business Day as single Contribution) (except with the consent of a Majority of the Controlling Class). The Collateral Manager, on behalf of the Issuer, may accept or reject any Contribution in its sole discretion and shall notify the Trustee in writing of any such acceptance. Each accepted Contribution will be deposited into the Contribution Account. If a Contribution is accepted, the Collateral Manager on behalf of the Issuer will apply such Contribution to a Permitted Use as directed by the Contributor at the time such Contribution is made (or, if no direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion). No Contribution or portion thereof shall be returned to the Contributor at any time (other than returns on such Subordinated Notes by operation of the Priority of...
Contribution Account. In accordance with this Indenture and the Securities Account Control Agreement, the Issuer shall, prior to the Closing Date, cause the Collateral Trustee to establish at the Custodian a single, segregated non‑interest bearing account held in the name of the Issuer, subject to the lien of the Collateral Trustee, which shall be designated as the Contribution Account, which shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. Each Cash Contribution will be received into the Contribution Account, and the Collateral Manager, on behalf of the Issuer, will apply such Contribution to the Permitted Use directed by the applicable Contributor at the time such Contribution is made (or, if no such direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion). No Contribution or any portion thereof will be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account will be deposited in the Interest Collection Subaccount as Interest Proceeds.
Contribution Account. The Collateral Trustee shall, prior to the Closing Date, establish a segregated, non-interest bearing account held in the name of the Issuer subject to the lien of the Collateral Trustee for the benefit of the Secured Parties, which shall be designated as the "
Contribution Account. At any time during or after the Reinvestment Period, any Holder of Interests may, by delivery of a written notice to the Collateral Trustee substantially in the form of Exhibit F hereto (a "Contribution Notice") at least three Business Days prior to the date such Holder proposes to make such Contribution, and with the prior written consent of the Portfolio Manager, make a contribution of Cash, Eligible Investments and/or Collateral Obligations (each, a "Contribution" and each such Holder, a "Contributor") to the Issuer for any purpose (including, without limitation, any Permitted Use). Each accepted Contribution shall be received into the Contribution Account and applied by the Portfolio Manager, on behalf of the Issuer, to a Permitted Use as directed by the Contributor in the related Contribution Notice or, if no direction is given by the Contributor, at the Portfolio Manager's sole discretion. No Contribution or any portion thereof shall be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account shall be deposited in the Collection Account as Interest Proceeds. For the avoidance of doubt, Contributions shall not increase any rights held by any Holder.
Contribution Account. In accordance with this Indenture and the Securities Account Control Agreement, the Issuer shall, prior toon the Closing Date, cause caused the Collateral Agent to establish at the Custodian a single, segregated non-interest bearing account held in the name of the Issuer, subject to the lien of this Indenture, which shall beis designated as the Contribution Account, which shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. Each Cash Contribution will be received into the Contribution Account, and the Collateral Manager, on behalf of the Issuer, will apply such Contribution to the Permitted Use directed by the applicable Contributor at the time such Contribution is made, so long as the Collateral Manager consents to such Permitted Use or Permitted Uses (or, if no such direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion) and will not in any event be subsequently applied to any other Permitted Use. No Contribution or any portion thereof will be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account will be deposited in the Interest Collection Subaccount as Interest Proceeds.
Contribution Account. A Participant’s rights to his Section 401(k) Contribution Account shall be nonforfeitable at all times.
Contribution Account. The term “
Contribution Account. In accordance with this Indenture and the Account Agreement, the Trustee shall, on or prior to the Closing Date, establish at the Custodian a single, segregated non-interest bearing account, which will be held in the name of U.S. Bank National Association, as Trustee, for the benefit of the Secured Parties, which will be designated as the “Contribution Account” and which will be held by the Custodian in accordance with the Account Agreement. In addition, the proceeds of an additional issuance of Subordinated Notes and/or Junior Mezzanine Notes may be deposited in the Contribution Account for application to a Permitted Use, at the direction of the Collateral Manager. At any time any Holder of Subordinated Notes (other than a Benefit Plan Investor) may, upon written notice substantially in the form of Exhibit G (each such notice, a “Contribution Notice”) to the Trustee and the Collateral Manager and with the consent of the Collateral Manager, (i) make a contribution of Cash to the Issuer or (ii) solely in the case of Holders of Subordinated Notes in the form of Certificated Notes or the holders of 100% of
Contribution Account. The Company shall maintain for accounting -------------------- purposes the following memorandum account ("Contribution Account") for each Member. The initial balance of such account shall be the Member's Initial Capital Contributions set forth in Section 3.1. The balance of such account shall be increased by, and as of the date of, each additional Capital Contribution made by such Member. The balance of the Contribution Account of each Member shall be decreased by any Distributions to such Member under Sections 6.4(b) and 10.5.
Contribution Account. The Trustee has established at the Custodian a single, segregated non-interest bearing trust account which shall be held in the name of the Trustee for the benefit of the Secured Parties, which shall be designated as the “Contribution Account,” and which shall be maintained by the Issuer with the Custodian in accordance with the Securities Account Control Agreement. At any time during the Reinvestment Period, any Holder of Interests may, but shall not be required to, (A) make contributions of Cash, Eligible Investments and Collateral Obligations, in each case, in an amount equal to not less than $500,000 (each, a “Contribution” and, each such Holder, a “Contributor”), to the Issuer for any purpose (including, without limitation, any Permitted Use and/or to make any Cure Contribution) or (B) return to the Trustee any portion of Interest Proceeds or Principal Proceeds that was distributed on such Interests in accordance with the Priority of Distributions. Each Contribution shall be received into the Contribution Account, and the Portfolio Manager, on behalf of the Issuer, shall apply such Contribution as directed by the applicable Contributor at the time such Contribution is made (or, if no such direction is given by the Contributor, at the direction of the Portfolio Manager in its sole discretion). No Contribution or any portion thereof shall be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account shall be deposited in the Interest Collection Account as Interest Proceeds.