Revenue Account Sample Clauses
Revenue Account. (a) The following amounts shall be deposited into the Revenue Account directly, or if received by CE Generation or any Assignor, as soon as practicable upon receipt, in either case in accordance with this Section 3.1(a):
(i) all Available Cash Flow (other than Available Cash Flow required to be deposited in the Redemption Account pursuant to Section 3.5(a)) received by the Assignors;
(ii) all proceeds received by CE Genera tion in connection with a sale of all or any portion of its ownership interest in any Assignor (other than proceeds required to be deposited in the Redemption Account pursuant to Section 3.5(a));
(iii) all proceeds received by the Assignors in connection with a sale of all or any portion of their respective ownership interests in the Project Companies or their right to receive Available Cash Flow (other than proceeds required to be deposited in the Redemption Account pursuant to Section 3.5(a));
(iv) to the extent the Debt Service Reserve Account is fully funded or the Monies on deposit in or credited to such Account, together with any Debt Service Reserve Letter of Credit, equals the Debt Service Reserve Requirement, any income from the investment of Monies on deposit in or credited to any of the Accounts pursuant to Section 3.7; and
(v) all other Monies required to be transferred to the Revenue Account from any other Account as contemplated under this Agreement or as provided in Section 7 of the Intercreditor Agreement. If any of the foregoing amounts required to be deposited with the Depositary Bank in accordance with the terms of this Agreement are received by CE Generation, any Assignor or any Affiliate thereof, CE Generation or such Assignor shall or shall cause any such Affiliate to hold such payments in trust for the Collateral Agent and shall promptly remit such payments to the Depositary Bank for deposit in the Revenue Account in the form received (with any necessary endorsements).
(b) In the event the Depositary Bank receives Monies without adequate instruction with respect to the source or proper Account in which such Monies are to be deposited, the Depositary Bank shall deposit such Monies into the Revenue Account and segregate such Monies from all other Monies on deposit in or credited to the Revenue Account and notify CE Generation and the Assignors of the receipt and source of such Monies. Upon receipt of written instructions from CE Generation, the Depositary Bank shall transfer such Monies from the Revenue Account to th...
Revenue Account. The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Revenue Account” (account number 0000000) (the “Revenue Account”). Except as otherwise set forth in this Agreement, the Borrower shall (and the Borrower shall cause each Project Company to) deposit in the Revenue Account all cash amounts held by or paid to the Borrower (and each Project Company), including without limitation, (i) any and all distributions and other payments to which the Borrower is entitled under the Borrower LLC Agreement, (ii) all Project Revenues paid to the Borrower or any Project Company under any Project Documents or otherwise, (iii) all proceeds of any equity contribution funded by all Affiliated Participants, (iv) all proceeds of any business interruption insurance received by the Borrower or any Project Company or otherwise in respect of the Projects, and (v) transfers from other Collateral Accounts in accordance with this Section 6; provided, however, that (x) all Government Grant proceeds received from the Governmental Authority shall be deposited in the Government Grant Proceeds Account pursuant to Section 6(g), (y) all proceeds of insurance (other than proceeds of business interruption insurance) shall be deposited in the Loss Proceeds Account pursuant to Section 6(f), and (z) all proceeds paid to the Borrower or any Project Company related to the Permitted Transmission Line Transfer shall be deposited in the Gen Lead Account pursuant to Section 6(j). So long as no Event of Default has occurred and is continuing or will occur upon giving effect to the application described below, funds in the Revenue Account shall be applied by internal account transfer by the Securities Intermediary at the direction of the Security Agent and the Borrower, in each case at the following times and in the following order of priority:
Revenue Account. The Borrower and each other Loan Party acknowledges and confirms that, on or before the Effective Date and pursuant to the terms of this Agreement, Timberlands II has established and will maintain one or more accounts or InvestLine Related Loan Party Subaccounts at one or more Account Bank for the benefit of the Administrative Agent, as first priority secured party for the benefit of the Lender Parties, to serve as the “Revenue Account” (said account or accounts and any account or accounts replacing the same in accordance with this Agreement, collectively, the “Revenue Account”). Timberlands II shall cause and direct all amounts that are payable to it under the Master Stumpage Agreement from the harvesting of Timber to the Revenue Account. CatchMark TRS Subsidiary shall pay or credit directly into the Revenue Account, as and when due, all amounts owing by it to Timberlands II pursuant to the Master Stumpage Agreement. Each of the Borrower, CatchMark TRS Subsidiary and each other Loan Party acknowledges and confirms that, pursuant to the terms of this Agreement and the Master Stumpage Agreement, each of Timberlands II and CatchMark TRS Subsidiary and the other Loan Parties has and will give proper notice of the Revenue Account to the parties to the Master Stumpage Agreement.
Revenue Account. After the Conversion Date:
Revenue Account. Subject to Sections 8.2(a) and 8.2(b), the Company shall deposit into the Revenue Account all Project Revenues of the Company and its Subsidiaries received after the Conversion Date.
Revenue Account withdrawals
8.3.1 to pay the proper and reasonable operating expenses (including costs of insuring, repairing and maintaining the Vessel) of the Vessel, including amounts properly due to the Manager under the Management Agreement, the Supervisors under the Supervision Agreement and Mitsui under the Corporate Management Agreement, the proper and reasonable expenses of administering the affairs of the Borrower and the Taxes of the Borrower;
8.3.2 to transfer to the Dry Docking Reserve Account, first time three (3) months after the Delivery Date and at three (3) Monthly intervals thereafter up to and including the date upon which the Vessel completes each such scheduled dry docking, an amount equal to 1/ 20 of the total Dry Docking Reserve Account Payments in respect of such next scheduled dry docking;
8.3.3 to transfer to the Retention Account on the next following Retention Date all or part of the Retention Amount for such Retention Date;
8.3.4 to pay any other amounts payable under the Security Documents (including payments to the Swap Providers under any of the Swap Agreements and in case of partial payments the Swap Providers will be paid pro-rata);
8.3.5 to transfer to the Debt Service Reserve Account all or part of the DSRA Amount if any remains unpaid; and
8.3.6 to transfer any surplus to the Distribution Account unless at any relevant time a Dividend Restriction Event has occurred which is continuing unremedied or unwaived in which case any surplus shall be transferred to the Dividend Lock-Up Account, Provided that where such Dividend Restriction Event has ceased to be continuing and in circumstances where there is no Potential Event of Default or Event of Default which is continuing unremedied or unwaived such surplus may be transferred from the Dividend Lock-Up Account to the Distribution Account.
Revenue Account. Subject to Section 8.2, the Company shall deposit, and shall direct others (including all of its Subsidiaries) to pay or deposit, all Project Revenues directly into the Revenue Account as required by Article VIII.
Revenue Account. (a) The Borrower shall establish and maintain with Malayan Banking Berhad at all times the Revenue Account, which shall be in the name of the Borrower.
(b) At all times after the first Utilisation Date, the Borrower shall ensure the payment into the Revenue Account of all cash amounts received by the Borrower other than:
(i) the proceeds of any sale, lease, transfer or other disposal under paragraph (b) of the definition of Permitted Disposals; or
(ii) the proceeds of any Financial Indebtedness incurred by the Borrower that comes under paragraph (b) of the definition of Permitted Financial Indebtedness.
(c) The Borrower shall withdraw such amounts from the Revenue Account and apply such amounts towards the mandatory prepayments required pursuant to Clause 7.2 (Mandatory prepayment — Redemption), Clause 7.3 (Mandatory prepayment — Sale Proceeds), Clause 7.4 (Mandatory prepayment — Funding Source), and Clause 7.5 (Mandatory prepayment - Receipts).
(d) Save as expressly permitted in paragraph (c) above, the Borrower shall not withdraw any funds from the Revenue Account provided that, after moneys are paid into the Revenue Account in accordance with paragraph (b) above, the Borrower may withdraw amounts from the Revenue Account solely for application towards the following items (and in the following order and only if the stipulated conditions are satisfied):
(i) first, in or towards payment to the Lender for application of any unpaid fees, costs and expenses of the Lender under the Transaction Documents in accordance with this Agreement (which, for the avoidance of doubt, shall not include the Upfront Fee);
(ii) second, in or towards payment to the Lender for application of any interest and principal due but unpaid under the Facility, in accordance with this Agreement;
(iii) third, in or towards payment of any and all payments then due but unpaid to the Hedge Counterparty under or in respect of the Permitted Hedging Agreements (if any);
(iv) fourth, on each Quarter Date falling after the Closing Date:
(A) 65 per cent. of the moneys remaining in the Revenue Account shall be applied towards prepayment of the Loan in the manner set out in Clause 7.7 (Application of Proceeds); and
(B) 35 per cent. of the moneys remaining in the Revenue Account (the “Excess Cash”) may, subject to satisfaction of the conditions set out in Clause 19.25 (Dividends), be used by the Borrower to declare or pay dividends or make distributions to its shareholders.
(e) The Borrower shall no...
Revenue Account. (a) Except as otherwise provided in Section 4.2(b), the following amounts shall be deposited into the Revenue Account directly, or if received by the Borrower, as soon as practicable upon receipt, in either case in accordance with this Section 4.2(a):
(i) all Project Revenues; and
(ii) all other amounts required to be transferred to the Revenue Account from any other Account as contemplated under this Agreement.
Revenue Account. Guarantor shall take all actions as --------------- may be necessary to cause all revenues received by Guarantor from the Project to be deposited in the Revenue Account in accordance with Section 3.1. of the Depositary Agreement.