Distribution Suspense Account Clause Samples

Distribution Suspense Account. (a) On any Monthly Date on which all of the conditions set forth in clause (b) of this Section 3.9 (the "Distribution Conditions") are satisfied, upon delivery to the Collateral Agent, the Administrative Agent, the Trustee and the VEPCO L/C Agent of an Officer's Certificate of the Partnership certifying as such three (3) Business Days prior to such Monthly Date, the Administrative Agent shall transfer Monies from the Distribution Suspense Account to the Distribution Account in accordance with clause (b) of this Section 3.9 in an amount equal to the lesser of (i) the Monies on deposit in or credited to the Distribution Suspense Account and (ii) the Account Balance Amount less the Account Reserve Requirement. (b) Subject to Section 3.9(c), the transfer of Monies on any Monthly Date from the Distribution Suspense Account to the Distribution Account as described in clause (a) of this Section 3.9 is subject to the following conditions (the "Distribution Conditions"): (i) all required transfers and payments described in clauses (i) through (viii) of Section 3.2(b) shall have been completed; (ii) immediately after giving effect to the proposed transfer of Monies to the Distribution Account, the Account Balance Amount shall be greater than or equal to the Account Reserve Requirement; provided that this Distribution Condition shall apply only if such Monthly Date is not a Scheduled Payment Date for the Bonds; (iii) no Default or Event of Default shall have occurred and be continuing or shall result from such transfer of Monies to the Distribution Account; (iv) if the Test Period consists entirely of the Two-Thirds PPA Period and/or the 100% PPA Period, (A) the Senior Debt Service Coverage Ratio shall be greater than or equal to the Required Ratio for the six-month period (or, with respect to the Monthly Dates that occur within six months after the Commercial Operation Date, the period commencing on the Commercial Operation Date and ending on such Monthly Date) preceding such Monthly Date, and (B) the Projected Senior Debt Service Coverage Ratio shall be greater than or equal to the Required Ratio for the six-month period succeeding such Monthly Date; (v) if a portion of the Test Period consists of the 100% PPA Period and/or the Two-Thirds PPA Period and a portion of the Test Period consists of the One-Third PPA Period and/or the Merchant Period: (A) for the portion of the Test Period which consists of the 100% PPA Period and/or the Two-Thirds PPA Period, (1) the Se...

Distribution Suspense Account. The Collateral Agent shall cause all monies on deposit in the Distribution Suspense Account to be applied for the following purposes in the following order of priority, the requirements of each numbered item to be fully satisfied for any fiscal period before application of any monies to any succeeding numbered item for such fiscal period: (a) On the 15th day of each February, May, August and November (each, a “Distribution Date”), in the event that all of the conditions precedent set forth in Section 7.10(a) of the Common Agreement are not satisfied, to the Project Revenue Account, all monies then on deposit in the Distribution Suspense Account. (b) On each Distribution Date, provided that all of the conditions precedent set forth in Section 7.10(a) of the Common Agreement are satisfied, at the direction of the Borrower, the Collateral Agent shall cause a portion of the monies then on deposit in the Distribution Suspense Account to be disbursed to the Borrower or as the Borrower may direct to make any Restricted Payment; provided, however, that at the same time as the Collateral Agent shall cause any monies on deposit in the Distribution Suspense Account to be disbursed to make any Restricted Payment, the Collateral Agent shall cause monies on deposit in the Distribution Suspense Account in an amount equal to the Prepayment Amount to be applied to the voluntary prepayment of the DOE-Guaranteed Loan in accordance with clause (v) of the definition of “Distribution Preconditions” and pursuant to Section 3.4.3(a)(v) of this Common Agreement. (c) For purposes of applying paragraph (a) or paragraph (b) of this Section A.14, satisfaction or nonsatisfaction of all of the conditions precedent set forth in Section 7.10(a) of the Common Agreement shall be determined as of both (i) the first day of the then current calendar quarter and (ii) the applicable Distribution Date, except that satisfaction or nonsatisfaction of the condition precedent set forth in clause (iv) of the definition of “Distribution Preconditions” shall be determined only as of the last day of the preceding calendar quarter. Unless all of the conditions precedent set forth in Section 7.10(a) of the Common Agreement are satisfied on all such applicable dates, all monies then on deposit in the Distribution Suspense Account shall be transferred to the Project Revenue Account on the applicable Distribution Date.

Distribution Suspense Account. All monies at any time deposited in any account required hereby shall be disbursed, allocated and applied solely for the uses and purposes provided herein.

Distribution Suspense Account. There is hereby created and established a special, segregated and irrevocable account of the Borrower entitled the “[***]” for the benefit of [***] as Collateral Agent (the “Distribution Suspense Account”) to be maintained with the Depositary Bank, having account number [***]. No payments shall be made out of such account except for the purposes and on the terms herein stated.

Distribution Suspense Account. On any Funding Date on which any of the conditions precedent to Restricted Payments in Section 3.08(b) have ------- not been satisfied, the Collateral Agent shall transfer all monies held in the Distribution Account to the Distribution Suspension Account. On any Business Day thereafter on which the conditions to Restricted Payments set forth in Section 3.08(b) are satisfied, upon delivery to the Trustee and the Collateral Agent of ------- a certificate of a Responsible Officer of the Issuer certifying that all such conditions to Restricted Payments are now satisfied, the Collateral Agent shall withdraw and transfer all monies in the Distribution Suspense Account to the Distribution Account and then to such Persons as may be directed in writing by the Issuer. The Collateral Agent may conclusively rely on such certificate of a Responsible Officer of the Issuer certifying that all conditions for disbursement from the Distribution Account have been met. At any time that funds in the Revenue Account are not sufficient to pay any amounts which are due and payable and required to be paid with proceeds of the Revenue Account, then funds in the Distribution Suspense Account shall be transferred to the Revenue Account for distribution as provided therein.

Distribution Suspense Account. 17 SECTION 3.10. Loss Proceeds Account................................... 17 SECTION 3.11. Redemption Account...................................... 20 SECTION 3.12.

Distribution Suspense Account. 36 SECTION 3.10 Proceeds Account........................................... 39 SECTION 3.11

Distribution Suspense Account. 24 -- Section 3.10. Loss Proceeds Account............................... 25 -- Section 3.11. Redemption Account.................................. 31 -- Section 3.12. Investment of Accounts.............................. 32 -- Section 3.13. Disposition of Accounts upon Retirement of Senior Secured Notes................................ 33 -- Section 3.14. Account Balance Statements.......................... 33 -- Section 3.15. Events of Default................................... 34 -- Section 3.16. Accounts Maintained as UCC "Securities Accounts".... 34 -- Section 3.17. Stipulation Reserve Account......................... 35 -- Page ---- Article 4 --------- Collateral Agent ----------------

Distribution Suspense Account. A securities account entitled the “Solyndra Fab 2 LLC—Distribution Suspense Account Subject to the Security Interest of U.S. Bank National Association as the Collateral Agent” (the “Distribution Suspense Account”) is established and will be maintained at the Collateral Agent’s Office.