Common use of Interest Reserve Letters of Credit Clause in Contracts

Interest Reserve Letters of Credit. (a) The Co-Issuers may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts and/or the Senior Subordinated Notes Interest Reserve Accounts in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts on deposit in the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The CoIssuerCo-Issuers may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts AccountAccounts and/or the Senior Subordinated Notes Interest Reserve Accounts AccountAccounts in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any the Issuerany Co-Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts on deposit in the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The Co-Issuers Issuer may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts and/or the Senior Subordinated Notes Interest Reserve Accounts Account in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued (i) under any Class A-1 Note Purchase Agreement for or (ii) on and after the benefit 2021 Springing Amendments Implementation Date, an Eligible Letter of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicableCredit, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-the Issuer (or the respective Manager on its behalf) instructs the Trustee (or the Control Party, in the case of an Interest Reserve Letter of Credit) to withdraw funds from the applicable Senior Notes Interest Reserve Account Accounts or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts the aggregate amount on deposit in the applicable Senior Notes Interest Reserve Accounts or the Senior Subordinated Notes Interest Reserve Accounts (with the Manager instructing the Trustee in writing as to the Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account from which such amounts shall be withdrawn), on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The Co-Issuers Issuer may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts Account and/or the Senior Subordinated Notes Interest Reserve Accounts Account in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the TrusteeTrustee and the Control Party, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-the Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts the aggregate amount on deposit in the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Accounts (with the Manager instructing the Trustee in writing as to the Senior Notes Interest Reserve Account or Senior Subordinated Notes Interest Reserve Account from which such amounts shall be withdrawn), on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The Co-Issuers Issuer may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts and/or the Senior Subordinated Notes Interest Reserve Accounts Account in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-the Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account Accounts or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts the aggregate amount on deposit in the applicable Senior Notes Interest Reserve Accounts or the Senior Subordinated Notes Interest Reserve Accounts (with the Manager instructing the Trustee in writing as to the Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account from which such amounts shall be withdrawn), on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The Any of the Co-Issuers may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts Account and/or the Senior Subordinated Notes Interest Reserve Accounts Account in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of Trustee and either the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-the Master Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts the aggregate amount on deposit in the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account (with the Manager instructing the Trustee in writing as to the Senior Notes Interest Reserve Account or Senior Subordinated Notes Interest Reserve Account from which such amounts shall be withdrawn), on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.

Interest Reserve Letters of Credit. (a) The Co-Issuers Issuer may, in lieu of funding (or as partial replacement for funding) the Senior Notes Interest Reserve Accounts Account and/or the Senior Subordinated Notes Interest Reserve Accounts Account in the amounts required hereunder, maintain one or more Interest Reserve Letters of Credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable, each in a face amount equal to the amounts required to be funded in respect of such account(s) had such Interest Reserve Letter of Credit not been issued. Where on any Quarterly Calculation Date any Co-the Issuer (or the respective Manager on its behalf) instructs the Trustee to withdraw funds from the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, for allocation or payment on the following Quarterly Payment Date, such funds shall be drawn first, from amounts on deposit in the applicable Senior Notes Interest Reserve Account or the applicable Senior Subordinated Notes Interest Reserve Account Account, as applicable, on such Quarterly Calculation Date and second, from amounts available to be drawn under any applicable Interest Reserve Letter of Credit.