PRINCIPAL DEPOSITS IN DESIGNATED ACCOUNT Sample Clauses

PRINCIPAL DEPOSITS IN DESIGNATED ACCOUNT. From and after the Second Amendment Effective Date, the Company shall exercise its option to cause the 1993 Trustee to redeem principal of the 1993 Bonds on the Interest Rate Adjustment Date nearest to, but not later than October 1st of each year, beginning on October 1, 1999 and continuing through October 1, 2003 (each such date being a "1993 REDEMPTION DATE"). The amount of each such redemption shall be an amount equal to the Required Annual Minimum Redemption Amount calculated as of the then current 1993 Redemption Date. The Company and the Bank agree that it is their intent that no optional redemption of the 1993 Bonds is to occur until Term Loan A has been paid and satisfied in full. On the Business Day of the first calendar month after payment in full of Term Loan A which is two (2) Business Days prior to an Interest Payment Date for the 1993 Bonds, and on the Business Day which is two (2) Business Days prior to an Interest Payment Date during each calendar month thereafter until the 1993 Bonds are paid in full, the Company shall deposit into the Designated Account, in addition to all other amounts required to be deposited into the Designated Account under the terms of this Agreement, an amount equal to one-twelfth (1/12 of) the Required Annual Minimum Redemption Amount of the 1993 Bonds that the Company will be required to redeem on the next following 1993 Redemption Date. The fact that any 1993 Redemption Date falls on or beyond the initial expiration date of the 1993 Direct-Pay Letter of Credit shall not be construed as a commitment on the part of the Bank to extend the 1993 Direct-Pay Letter of Credit beyond its original or any subsequent expiration date, and nothing herein shall be deemed or construed to be an extension of the maturity of the 1993 Bonds even if a balloon payment is required at the maturity of such 1993 Bonds."
Sample 1
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PRINCIPAL DEPOSITS IN DESIGNATED ACCOUNT. From and after the Closing Date, the Company shall exercise its option to cause the 1993 Trustee to redeem principal of the 1993 Bonds in amounts not less than the amounts shown in the following table on the Interest Rate Adjustment Date nearest to, but not later than the dates indicated in the table: MINIMUM DATE OF OPTIONAL REDEMPTION REDEMPTION October 1, 1997 $315,000 October 1, 1998 $330,000 October 1, 1999 $345,000 October 1, 2000 $365,000 October 1, 2001 $380,000 October 1, 2002 $395,000 October 1, 2003 $415,000
Sample 1
PRINCIPAL DEPOSITS IN DESIGNATED ACCOUNT. From and after the Closing Date, the Company shall exercise its option to cause the 1994 Refunding Trustee to redeem principal of the 1994 Refunding Bonds in amounts not less than the amounts shown in the following table on the Interest Rate Adjustment Date nearest to, but not later than the dates indicated in the table:
Sample 1

Related to PRINCIPAL DEPOSITS IN DESIGNATED ACCOUNT

  • Principal Depository Borrower shall maintain its principal depository and operating accounts with Bank.

  • 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.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • 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).

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Investment Account The Manager shall maintain an investment account or accounts in the Manager’s name (the “Account”) on behalf of the Principal, any other participating insurer affiliated with the Principal and/or the Ultimate Parent Company, an insurance subsidiary or affiliate of the Principal and/or the Ultimate Parent Company or a pension plan or profit-sharing plan of the Principal, its insurance subsidiaries or affiliates, (collectively, the “Participants”), and shall hold therein all debt obligations, accounts or deposits permitted by the New Hampshire Insurance Code as more fully described on Exhibit A, as may be amended from time to time, and attached hereto and incorporated herein (collectively, “Investments”), deposited in or purchased or otherwise acquired for and on behalf of the Principal and the Participants from time to time pursuant to the terms and conditions of this Agreement. All Investments in the Account shall be Short-Term Obligations.

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • 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.

  • Bank as Principal Depository To maintain the Bank or one of its affiliates as its principal depository bank, including for the maintenance of business, cash management, operating and administrative deposit accounts.

  • Designated Account Agent is authorized to make the Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

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