Common use of Liquidity Reserve Account; Liquidity Facilities Clause in Contracts

Liquidity Reserve Account; Liquidity Facilities. (a) On the Initial Closing Date, the Issuer shall enter into the Initial Liquidity Facility and deliver a copy thereof to the Indenture Trustee. On or after the Initial Closing Date, the Issuer: (i) may deliver to the Indenture Trustee one or more additional Liquidity Facilities issued in accordance with Section 3.15 in an amount up to the Liquidity Reserve Target Amount; or (ii) shall, if the Issuer does not deliver a Liquidity Facility, or delivers a Liquidity Facility or Liquidity Facilities in an amount that is less than the Liquidity Reserve Target Amount, deposit (or cause to be deposited) in the Liquidity Reserve Account, cash in an amount necessary to cause the amount on deposit in the Liquidity Reserve Account (plus the amount of the Liquidity Facilities) to equal the Liquidity Reserve Target Amount as of such date, out of the Net Proceeds of a new Series of Additional Notes and/or from funds contributed by the Member to the Issuer as equity on or prior to such date, as applicable.