Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account Sample Clauses

Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account. Closing Expense Account 128 Section 8.4 Custodial Account 133 Section 8.5 Acquisition of Collateral Loans and Eligible Investments 135
Sample 1Sample 2
AutoNDA by SimpleDocs
Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account. Closing Expense Account 125 Section 8.4 Custodial Account 130 Section 8.5 Acquisition of Collateral Loans and Eligible Investments 131 Section 8.6 Release of Security Interest in Sold Collateral Loans and Eligible Investments; Release of Security Interests Upon Termination 132 Section 8.7 Method of Collateral Transfer 132 Section 8.8 Continuing Liability of the Borrower 134 Section 8.9 Reports 134 ARTICLE IX APPLICATION OF MONIES 136 Section 9.1 Disbursements of Funds from Payment Account 136 ARTICLE X SALE OF COLLATERAL LOANS; ELIGIBILITY CRITERIA; CONDITIONS TO SALES AND PURCHASES 139 Section 10.1 Sale of Collateral Loans 139 Section 10.2 Eligibility Criteria 142 Section 10.3 Conditions Applicable to all Sale and Purchase Transactions 143 TABLE OF CONTENTS (continued) Page ARTICLE XI CHANGE IN CIRCUMSTANCES 143 Section 11.1 Basis for Determining Interest Rate Inadequate or Unfair 143 Section 11.2 Illegality 143 Section 11.3 Increased Cost and Reduced Return 143 Section 11.4 Taxes 145 Section 11.5 Replacement of Lenders 149 ARTICLE XII MISCELLANEOUS 151 Section 12.1 Notices 151 Section 12.2 No Waivers 152 Section 12.3 Expenses; Indemnification 152 Section 12.4 Sharing of Set-Offs 153 Section 12.5 Amendments and Waivers 154 Section 12.6 Successors and Assigns 155 Section 12.7 Collateral; QP Status 158 Section 12.8 Governing Law; Submission to Jurisdiction 158 Section 12.9 Marshalling; Recapture 159 Section 12.10 Counterparts; Integration; Effectiveness 159 Section 12.11 Waiver of Jury Trial 159 Section 12.12 Survival 159 Section 12.13 Domicile of Loans 159 Section 12.14 Limitation of Liability 160 Section 12.15 Recourse; Non-Petition 160 Section 12.16 Confidentiality 160 Section 12.17 Special Provisions Applicable to CP Lenders 161 Section 12.18 Direction of Collateral Agent 163 Section 12.19 Borrowings/Loans Made in the Ordinary Course of Business 163 Section 12.20 Acknowledgement and Consent to Bail-In of EEA Financial Institutions 163 Section 12.21 PATRIOT Act 164 ARTICLE XIII ASSIGNMENT OF CORPORATE SERVICES AGREEMENT AND SALE AND CONTRIBUTION AGREEMENT 164 Section 13.1 Assignment of Corporate Services Agreement and Sale and Contribution Agreement 164 ARTICLE XIV THE DOCUMENT CUSTODIAN 167 Section 14.1 The Document Custodian 167 Section 14.2 Document Custodian Compensation 169 Section 14.3 Limitation on Liability 169 Section 14.4 Document Custodian Resignation 170 Section 14.5 Release of Documents 171 TABLE OF CONTENTS (continued) Page Section 14.6 Ret...
Sample 1
Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account. Closing Expense Account 118 Section 8.4 Custodial Account 122 Section 8.5 Acquisition of Collateral Loans and Eligible Investments 124 Section 8.6 Release of Security Interest in Sold Collateral Loans and Eligible Investments; Release of Security Interests Upon Termination 124 Section 8.7 Method of Collateral Transfer 125 Section 8.8 Continuing Liability of the Borrower 126 Section 8.9 Reports 126 ARTICLE IX APPLICATION OF MONIES 128 Section 9.1 Disbursements of Funds from Payment Account 128
Sample 1

Related to Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Debt Service Reserve Account Borrower shall fund and maintain a debt service reserve in the Debt Service Reserve Account, in an amount equal to twelve (12) monthly payments of principal and interest on the Term Loan as determined from time to time by the Lender (the “Debt Service Reserve Amount”). Beginning with the first fiscal year end after the Effective Date, and at each fiscal year end thereafter, until such time as the balance in the Debt Service Reserve Account is equal to or greater than the Debt Service Reserve Amount, one hundred percent (100%) of Excess Cash Flow shall be deposited in the Debt Service Reserve Account by Borrower within 120 days of each fiscal year end. The balance held in the Debt Service Reserve Account shall earn interest at the rate determined by the Lender from time to time. If at any time after the Debt Service Reserve Amount has been fully funded by the Borrower the balance in the Debt Service Reserve Account is less than sixty-seven percent (67.0%) of the applicable Debt Service Reserve Amount, the Borrower shall, within sixty (60) days after receipt of notice from the Lender as provided herein, deposit in the Debt Service Reserve Account an amount sufficient to restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount; provided, however, Borrower shall not be required to make a deposit in the Debt Service Reserve Account to the extent that such a deposit would exceed one hundred percent (100%) of Excess Cash Flow, calculated based upon unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement for the month ending immediately prior to receipt of notice from the Lender. In the event that Borrower is not required to fully restore the balance in the Debt Service Reserve Account pursuant to the foregoing sentence, Borrower shall at the earliest possible date thereafter, to the extent of Excess Cash Flow determined on unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement or audited financial statements required by Section 5.01(c)(i) of this Agreement, as applicable, deposit in the Debt Service Reserve Account such additional amounts as will restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount. As and when any of the Loan Obligations are past due, after any applicable grace periods have expired, under any Loan Document, Lender, in its sole discretion, may withdraw from the Debt Service Reserve Account the amount of the then past due Loan Obligations and apply such amounts to the payment of the past due Loan Obligations. Notwithstanding the foregoing sentence, if an Event of Default has occurred and is continuing under the Loan Documents, the Lender may, after any applicable grace periods have expired, withdraw amounts in the Debt Service Reserve Account, in its sole discretion, and apply such amounts to the payment of the Loan Obligations in such order and manner as Lender shall determine in its sole discretion. Withdrawals by the Lender of any amounts from the Debt Service Reserve Account to pay any Loan Obligations as provided in this Section 2.14 may be made without the requirement of any consent by or notice to the Borrower, provided that Lender shall provide to Borrower notice that such withdrawal was made within a reasonable time thereafter. Borrower recognizes and acknowledges that its obligation to pay the Loan Obligations are absolute and unconditional and it is not dependent upon sufficient deposits in the Debt Service Reserve Account being available to make payment on any Loan Obligations, and nothing herein shall be construed to negate or modify the Borrower’s absolute and unconditional obligation to pay the Loan Obligations in accordance with the terms and conditions of this Agreement and the Loan Documents. Borrower shall execute and deliver to the Lender any and all deposit account control agreements the Lender may reasonably request in accordance with the terms and conditions of the Loan Documents, and take all actions and deliver all documents the Lender may reasonably request or require to perfect the Lender’s security interest in the Debt Service Reserve Account, in accordance with the terms and conditions of the Loan Documents.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • 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.

  • Yield Supplement Account On the Closing Date, the Seller will deposit the Yield Supplement Account Deposit to the Yield Supplement Account from the net proceeds of the sale of the Notes. The Yield Supplement Account shall be the property of the Issuer subject to the rights of the Indenture Trustee for the benefit of the Securityholders.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Collateral Account (a) Secured Party is hereby authorized to establish and maintain as a blocked account under the sole dominion and control of Secured Party, a restricted Deposit Account designated as “Quidel Corporation Collateral Account”. All amounts at any time held in the Collateral Account shall be beneficially owned by Grantors but shall be held in the name of Secured Party hereunder, for the benefit of Beneficiaries, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Grantors shall have no right to withdraw, transfer or, except as expressly set forth herein or in the Credit Agreement, otherwise receive any funds deposited into the Collateral Account. Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or Government Authority, as may now or hereafter be in effect. All deposits of funds in the Collateral Account shall be made by wire transfer (or, if applicable, by intra-bank transfer from another account of a Grantor) of immediately available funds, in each case addressed in accordance with instructions of Secured Party. Each Grantor shall, promptly after initiating a transfer of funds to the Collateral Account, give notice to Secured Party by telefacsimile or E-mail (if and when confirmed by telephone) of the date, amount and method of delivery of such deposit. Cash held by Secured Party in the Collateral Account shall not be invested by Secured Party but instead shall be maintained as a cash deposit in the Collateral Account pending application thereof as elsewhere provided in this Agreement or in the Credit Agreement. To the extent permitted under Regulation Q of the Board of Governors of the Federal Reserve System, any cash held in the Collateral Account shall bear interest at the standard rate paid by Secured Party to its customers for deposits of like amounts and terms. Subject to Secured Party’s rights hereunder, any interest earned on deposits of cash in the Collateral Account shall be deposited directly in, and held in, the Collateral Account.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

Time is Money Join Law Insider Premium to draft better contracts faster.