Debt Service Reserve Account. If at any time during the Term of the Agreement, the Borrower financial statements show a negative EBITDA for any six (6) month period, the Borrower shall immediately and without further notice or demand from the Bank establish and fund an account with the Bank (“Debt Service Reserve Account”), and shall maintain in such Debt Service Reserve Account an amount equal to six (6) months of interest payable on the principal amount outstanding under the Facility for the six (6) month period prior to the establishment of the Debt Service Reserve Account. Such Debt Service Reserve Account shall be thereafter maintained for the remainder of the Term of the Agreement. If at any time the Bank utilizes amounts from the Debt Service Reserve Account to pay any of the Borrower’s obligations pursuant to this Agreement or any Credit Document, then the Borrower shall promptly replenish such amounts in the Debt Service Reserve Account to the amount first stated above in this Section 9.22.
Debt Service Reserve Account. (a) The Trustee agrees to open and maintain (other than with respect to funding) the Debt Service Reserve Account at all times. All amounts contained in the Debt Service Reserve Account are to be held in trust by the Trustee.
Debt Service Reserve Account. The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Debt Service Reserve Account” (account number 0000000) (the “Debt Service Reserve Account”). Unless an Event of Default exists and is continuing, Administrative Agent, as beneficiary under the Debt Service Reserve LC, shall make a draw under the Debt Service Reserve LC to the to the extent necessary in the event that the amounts on deposit in the Revenue Account are at any applicable time insufficient for the purpose set forth in Sections 6(b)(3) and (4). All proceeds of Drawing Payments in respect of the Debt Service Reserve LC shall be deposited in the Debt Service Reserve Account. Funds on deposit in the Debt Service Reserve Account shall be used as and to the extent necessary in the event that the amounts on deposit in the Revenue Account are at any applicable time insufficient for the purpose set forth in Section 6(b)(3) and (4). In the event that upon the repayment of any Debt Service Reserve LC Loan and reinstatement of the Stated Amount of the Debt Service Reserve LC, the effect of which is that the aggregate sum of such reinstated Stated Amount and amount of funds on deposit in the Debt Service Reserve Account exceeds the Debt Service Reserve Requirement, then such excess amount shall be transferred to the Revenue Account to be applied pursuant to Section 6(b). Funds on deposit in the Debt Service Reserve Account may be transferred at Borrower’s request to be applied as an Optional Prepayment in connection with an AIMCO Prepayment.
Debt Service Reserve Account. At any time the Debt Service Reserve Account is not fully funded with the DSRA Required Balance within five (5) Business Days of any drawdown of such Project Account.
Debt Service Reserve Account. The Borrower shall establish and maintain the Debt Service Reserve Account in accordance with the Collateral Account Agreement and shall ensure that, at all times beginning on March 31, 2006, the amounts on deposit in the Debt Service Reserve Account is at least equal to the Debt Service Reserve Requirement as defined and provided for under the Collateral Account Agreement, unless prior consent in writing is received from OPIC under the Collateral Account Agreement to make withdrawals from the Debt Service Reserve Account in reduction of the amounts on deposit below the Debt Service Reserve Requirement.”
Debt Service Reserve Account. Unless the Agent (acting on the instructions of the Majority Lenders) otherwise agrees in writing, the Borrower shall not be entitled to withdraw any moneys from the Debt Service Reserve Account at any time during the Security Period other than pursuant to Clause 19.2.9.
Debt Service Reserve Account withdrawals Without prejudice to the rights of the Lender Finance Parties under clause 9.1.18 (particularly, without limitation, the right of the Lender Finance Parties to use the amounts standing to the credit of the Debt Service Reserve Account to service any Loan repayments which have become due), the Borrower shall not be entitled to withdraw any moneys from the Debt Service Reserve Account at any time from the date of this Agreement and so long as moneys are owing under the Security Documents save that, unless and until a Potential Event of Default or an Event of Default shall occur (which is continuing unremedied or unwaived) and the Agent shall direct to the contrary in accordance with the Security Documents, the Borrower may withdraw moneys from the Debt Service Reserve Account provided that a DSRA Letter of Credit is issued in an amount sufficient to constitute security at least of an equivalent Dollar for Dollar value as the amount withdrawn (and subject to the other provisions of this Agreement in relation to the DSRA Letter of Credit). In the event that the credit rating of an L/C Issuer falls below the Minimum Credit Rating applicable to it as described in clause 9.1.20, the Borrower shall immediately credit the Debt Service Reserve Account with an amount equal to the amount covered by the DSRA Letter of Credit provided by such L/C Issuer until the conditions set out in clauses 9.1.18 and 9.1.20 have been satisfied in full, and clause 9.1.18 shall apply as if the reference in such clause to “the date falling twenty seven (27) months after the Delivery Date” were a reference to the date the Borrower so credited the Debt Service Reserve Account and, to the extent that the Borrower is in breach of its obligations to so credit the Debt Service Reserve Account, the Lender Finance Parties shall immediately be entitled in their absolute discretion to make a demand under the DSRA Letter of Credit for the full amount in respect of which such DSRA Letter of Credit has issued.
Debt Service Reserve Account. The Owner Lessor shall establish and, so long as any Lessor Notes and Bonds remain outstanding, maintain with the Security Agent the Debt Service Reserve Account (the "DEBT SERVICE RESERVE ACCOUNT"). On the Closing Date and on any date on which a payment is made pursuant to Section 6.9 of the Participation Agreement, the Debt Service Reserve Amount on such date of determination will be 100% of the projected debt service on the Lessor Notes for the succeeding six-month period, and may be satisfied by one or a combination of the following: (i) cash or (ii) a letter of credit issued by a bank or trust company that constitutes Acceptable Credit Support. The Security Agent is hereby authorized to withdraw funds from the Debt Service Reserve Account or draw on such letter of credit to make any payments, to the extent the amounts on deposit in the Note Accounts are insufficient, due to the Noteholders in the manner provided in Article III hereof. Withdrawal of funds from the Debt Service Reserve Account or a draw on such letter of credit issued pursuant to this Section 5.4 following a Lease Event of Default resulting from failure to pay any Basic Lease Rent or Supplemental Lease Rent when due, shall be deemed to be an exercise by the Owner Lessor of its rights under Section 7.2 hereof (other than clause (i) of the last proviso of the last sentence of Section 7.2). Any deposit made by the Owner Lessor into the Debt Service Reserve Account and any reinstatement of the Debt Service Reserve Letter of Credit other than in connection with the payment by the Facility Lessee of the related overdue Rent shall be deemed to be an exercise by the Owner Lessor of its rights under Section 7.2 hereof for purposes of clause (i) of the last proviso of the last sentence of Section 7.2.
Debt Service Reserve Account. Maintain a balance in the Debt Service Reserve Account of not less than the aggregate amount necessary to pay Debt Service;
Debt Service Reserve Account. (a) The Borrower shall, prior to the Utilisation Date, open, and at all times maintain in its own name, the Debt Service Reserve Account.