Deposit Earnings Sample Clauses

Deposit Earnings. Each of the Administrative Agent, the Tranche A Fronting Bank, the Issuing Bank, the Swingline Lender and each Tranche A Lender hereby acknowledges and agrees that each Tranche A Lender is funding its Tranche A Credit-Linked Deposit to the Administrative Agent for application in the manner contemplated by this Section and by Sections 2.02(f), 2.04(f) and 2.22(e) and that the Administrative Agent has agreed to invest the Tranche A Credit-Linked Deposits so as to earn a return (except during periods when such Tranche A Credit-Linked Deposits are used to cover unreimbursed L/C Disbursements or Tranche A Loans that have not been repaid when due (at stated maturity, by acceleration or otherwise)) for the Tranche A Lenders equal at any time to (i) the LIBO Rate for the Interest Period in effect for the Tranche A Credit-Linked Deposits at such time minus (ii) 10 basis points; provided that, in the event that the Borrower shall revoke any notice reducing or terminating the Tranche A Funding Amounts pursuant to Section 2.09(b) or any notice of prepayment of the Tranche A Loans pursuant to Section 2.12(c), the Administrative Agent shall use commercially reasonable efforts to invest the Tranche A Credit-Linked Deposits that are affected thereby in a manner that is consistent with its policies relating to such deposits. Such interest will be paid to the Tranche A Lenders by the Administrative Agent in arrears on each day on which fees are due and payable to the Tranche A Lenders under Section 2.05(d). If on any payment date for the Tranche A Credit-Linked Deposits the Adjusted LIBO Rate for the period then ended would exceed the LIBO Rate for such period (as a result of the imposition of Statutory Reserves), then on such payment date the Borrower will pay to the Administrative Agent in immediately available funds, for distribution to the Tranche A Lenders in accordance with their Tranche A Funding Amounts, an amount equal to the additional interest that would have accrued on the Tranche A Credit-Linked Deposits during such Interest Period had the Adjusted LIBO Rate been employed.
Sample 1
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Deposit Earnings. Each of the Administrative Agent, each Fronting Bank and each Bank hereby acknowledges and agrees that each Bank is funding its Credit-Linked Deposit to the Administrative Agent for application in the manner contemplated by Sections 2.05(f) and that the Administrative Agent and the Borrower have mutually agreed to invest the Credit-Linked Deposits on deposit in the Credit-Linked Deposit Account so as to earn a return (the “Return on Deposits”) (subject to Section 8.01) for the Banks equal at any time to (i) for Dollar denominated Credit-Linked Deposits, (w) the Adjusted LIBO Rate in effect for the Credit-Linked Deposits at such time minus (x) 15 basis points or (ii) for Euro denominated deposits, (y) the EURIBOR in effect for the Credit-Linked Deposits at such time minus (z) 15 basis points; provided that, in the event that the Borrower shall revoke any notice of prepayment and termination pursuant to Section 2.10(b), the Administrative Agent shall use commercially reasonable efforts to invest the Credit-Linked Deposits that are affected thereby in a manner that is consistent with its policies relating to such deposits. Such interest will be paid to the Banks by the Administrative Agent in arrears on each day on which fees are due and payable to the Banks under Section 2.11(a) (and amounts earned in Euros shall be converted to Dollars by the Administrative Agent (in accordance with Section 1.03) any time fees are payable pursuant to Section 2.11(a)). All such interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day) and shall be calculated based on the daily amounts of the Credit-Linked Deposits of the Banks during the applicable period. The applicable Adjusted LIBO Rate or EURIBOR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
Sample 1
Deposit Earnings. Each of the Paying Agent, the Fronting Bank and each Tranche A Lender hereby acknowledges and agrees that each Tranche A Lender is funding its Tranche A Credit-Linked Deposit to the Paying Agent for application in the manner contemplated by Sections 2.05(f) and 2.09(h) and that the Paying Agent has agreed to invest the Tranche A Credit-Linked Deposits so as to earn a return (except during periods when such Tranche A Credit-Linked Deposits are used to cover unreimbursed LC Disbursements or Tranche A Loans that have not been repaid when due (at stated maturity, by acceleration or otherwise), and subject to Section 2.13) for the Tranche A Lenders equal at any time to (i) the LIBO Rate for the Interest Period in effect for the Tranche A Credit-Linked Deposits at such time minus (ii) 10 basis points; provided that, in the event that the Borrower shall revoke any notice of prepayment pursuant to Section 2.10(c), the Paying Agent shall use commercially reasonable efforts to invest the Tranche A Credit-Linked Deposits that are affected thereby in a manner that is consistent with its policies relating to such deposits. Such interest will be paid to the Tranche A Lenders by the Paying Agent in arrears on each day on which fees are due and payable to the Tranche A Lenders under Section 2.11(a).
Sample 1

Related to Deposit Earnings

  • Investment Earnings The Servicer will receive investment earnings (net of losses and investment expenses) on funds in the Bank Accounts as additional compensation for the servicing of the Receivables. The Servicer will direct the Indenture Trustee to withdraw the investment earnings and distribute them to the Servicer on each Payment Date.

  • Revenue Account The Borrower and each other Loan Party acknowledges and confirms that, on or before the Effective Date and pursuant to the terms of this Agreement, Timberlands II has established and will maintain one or more accounts or InvestLine Related Loan Party Subaccounts at one or more Account Bank for the benefit of the Administrative Agent, as first priority secured party for the benefit of the Lender Parties, to serve as the “Revenue Account” (said account or accounts and any account or accounts replacing the same in accordance with this Agreement, collectively, the “Revenue Account”). Timberlands II shall cause and direct all amounts that are payable to it under the Master Stumpage Agreement from the harvesting of Timber to the Revenue Account. CatchMark TRS Subsidiary shall pay or credit directly into the Revenue Account, as and when due, all amounts owing by it to Timberlands II pursuant to the Master Stumpage Agreement. Each of the Borrower, CatchMark TRS Subsidiary and each other Loan Party acknowledges and confirms that, pursuant to the terms of this Agreement and the Master Stumpage Agreement, each of Timberlands II and CatchMark TRS Subsidiary and the other Loan Parties has and will give proper notice of the Revenue Account to the parties to the Master Stumpage Agreement.

  • Investment Earnings and Supplemental Servicing Fees The Servicer shall be entitled to receive all Investment Earnings and Supplemental Servicing Fees when and as paid without any obligation to the Owner Trustee, the Indenture Trustee or the Depositor in respect thereof. The Servicer will have no obligation to deposit any such amount in any account established hereunder. To the extent that any such amount shall be held in any account held by the Indenture Trustee or the Owner Trustee, or otherwise established hereunder, such amount will be withdrawn therefrom and paid to the Servicer upon presentation of a certificate signed by a Responsible Officer of the Servicer setting forth, in reasonable detail, the amount of such Investment Earnings or Supplemental Servicing Fees.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Spread Account (a) On the Closing Date, the Seller shall deposit the applicable Spread Account Deposit into the Spread Account.

  • Excess Reserve Fund Account; Distribution Account (a) The Securities Administrator shall establish and maintain the Excess Reserve Fund Account, on behalf of the Class X Certificateholders, to receive that portion of the distributions on the Class X Interest up to an amount equal to any Basis Risk Payments and to pay to the LIBOR Certificateholders any Basis Risk Carry Forward Amounts (prior to using any Net Swap Receipts). For the avoidance of doubt, any Basis Risk Carry Forward Amounts shall be paid to the LIBOR Certificates first from the Excess Reserve Fund Account and then from the Supplemental Interest Trust. On each Distribution Date on which there exists a Basis Risk Carry Forward Amount on any Class of LIBOR Certificates, the Securities Administrator shall (1) withdraw from the Distribution Account and deposit in the Excess Reserve Fund Account, as set forth in Section 4.02(a)(iii)(L), the lesser of the Class X Distributable Amount (to the extent remaining after the distributions specified in Sections 4.02(a)(iii)(A)-(K) and without regard to the reduction in clause (iii) of the definition thereof for any Basis Risk Carry Forward Amounts or any Defaulted Swap Termination Payment) and the aggregate Basis Risk Carry Forward Amount and (2) withdraw from the Excess Reserve Fund Account amounts necessary to pay to such Class or Classes of LIBOR Certificates the applicable Basis Risk Carry Forward Amounts. Such payments, along with payments from the Supplemental Interest Trust, shall be allocated to those Classes based upon the amount of Basis Risk Carry Forward Amount owed to each such Class and shall be paid in the priority set forth in Section 4.02(a)(iii)(M). In the event that the Class Certificate Balance of any Class of Certificates is reduced because of Applied Realized Loss Amounts, the applicable Certificateholders will not be entitled to receive Basis Risk Carry Forward Amounts on the written down amounts on such Distribution Date or any future Distribution Dates (except to the extent such Class Certificate Balance is increased as a result of any Subsequent Recoveries), even if funds are otherwise available for distribution. The Securities Administrator shall account for the Excess Reserve Fund Account as an asset of a grantor trust under subpart E, Part I of subchapter J of the Code and not as an asset of any Trust REMIC created pursuant to this Agreement. The beneficial owners of the Excess Reserve Fund Account are the Class X Certificateholders. Any Basis Risk Carry Forward Amounts distributed by the Securities Administrator to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Securities Administrator, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates. In addition, the Securities Administrator shall account for the rights of Holders of each Class of LIBOR Certificates to receive payments of Basis Risk Carry Forward Amounts from the Excess Reserve Fund Account (along with payments of Basis Risk Carry Forward Amounts and without duplication, Upper-Tier Carry Forward Amounts from the Supplemental Interest Trust) as rights in a separate limited recourse interest rate cap contract written by the Class X Certificateholders in favor of Holders of each such Class. Notwithstanding any provision contained in this Agreement, the Securities Administrator shall not be required to make any payments from the Excess Reserve Fund Account except as expressly set forth in this Section 3.27(a).

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust (the “Collection Account”), entitled “Collection Account, Aurora Loan Services LLC, as Master Servicer, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2005-5.” The Collection Account shall relate solely to the Certificates issued by the Trust Fund hereunder, and funds in such Collection Account shall not be commingled with any other monies.

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