Reserve Ledger Sample Clauses
A Reserve Ledger clause establishes a formal record-keeping mechanism for tracking funds set aside as reserves under an agreement. This ledger details the amounts deposited, withdrawn, and the current balance of the reserve, ensuring transparency and accountability in the management of these funds. By maintaining a clear and up-to-date ledger, the clause helps prevent disputes over reserve balances and provides both parties with a reliable reference for financial transactions related to the reserve.
Reserve Ledger. The Cash Manager shall ensure that:
(a) any amounts (or part thereof) borrowed by the Guarantor under the Intercompany Loan Agreement that are specifically required to be credited to the Reserve Fund, shall be credited to the Reserve Ledger;
(b) amounts shall be credited to the Reserve Ledger in accordance with the Pre- Acceleration Revenue Priority of Payments; and
(c) amounts shall be debited to the Reserve Ledger on each Guarantor Payment Date in order to be applied in accordance with the Pre-Acceleration Revenue Priority of Payments or, as applicable, the Guarantee Priority of Payments.
Reserve Ledger. (a) On each Interest Payment Date, the Cash Manager shall determine the First Reserve Fund Required Amount and the First Reserve Fund Additional Required Amount.
(b) On each Interest Payment Date, the Cash Manager shall determine the Second Reserve Fund Required Amount which shall apply for the period from but excluding that Interest Payment Date to and including the next following Interest Payment Date.
(c) A First Reserve Tranche (if any) drawn down on a relevant Closing Date by Funding pursuant to a Start-Up Loan Agreement or otherwise an amount withdrawn from the Funding Reserve Fund if so agreed by Funding, the Seller and the Security Trustee will be credited to the First Reserve Ledger.
Reserve Ledger. (a) On each Interest Payment Date, the Cash Manager shall determine the First Reserve Fund Required Amount and the First Reserve Fund Additional Required Amount.
(b) A First Reserve Tranche (if any) drawn down on a relevant Closing Date by Funding pursuant to a Start-Up Loan Agreement or otherwise an amount withdrawn from the Funding Reserve Fund if so agreed by Funding, the Seller and the Security Trustee will be credited to the First Reserve Ledger.
Reserve Ledger. The Cash Manager shall ensure that:
(a) any Term Advances (or part thereof) borrowed by the LLP under the Intercompany Loan Agreement that are specifically required to be credited to the Reserve Fund, shall be credited to the Reserve Ledger;
(b) any Cash Capital Contributions to the Reserve Fund at the direction of the Seller shall be credited to the Reserve Ledger;
(c) amounts shall be credited to the Reserve Ledger in accordance with the Pre-Acceleration Revenue Priority of Payments; and
(d) amounts shall be debited to the Reserve Ledger on each LLP Payment Date in order to be applied in accordance with the Pre-Acceleration Revenue Priority of Payments or, as applicable, the Guarantee Priority of Payments.
Reserve Ledger. (a) Amounts shall be credited to the Funding 2 Reserve Ledger on any Monthly Payment Date in accordance with the Funding 2 Priority of Payments.
(b) Amounts shall be debited to the Funding 2 Reserve Ledger in order to be applied to fund any applicable reserves and the payment of expenses in connection with the issuance of notes and the making of Loan Tranches to Funding 2 and on each Monthly Payment Date in order to be applied in accordance with the Funding 2 Priority of Payments.
Reserve Ledger. (a) A tranche (if any) drawn down on a Closing Date by Funding 1 pursuant to the Funding 1 Start-Up Loan Agreement or any New Funding 1 Start-Up Loan Agreement for the purposes of funding the Funding 1 Reserve Fund (or any other similar reserve fund) will be credited to the Funding 1 Reserve Ledger.
(b) Amounts shall be credited to the Funding 1 Reserve Ledger in accordance with the relevant Funding 1 Priority of Payments.
(c) Amounts shall be debited to the Funding 1 Reserve Ledger on each Funding 1 Payment Date in order to be applied in accordance with the order of priority of payments set out in Schedule 4 to the Funding 1 Deed of Charge.