Surplus Subaccount Sample Clauses

Surplus Subaccount. All amounts transferred to the Acquisition Fund, the Administration Fund, the Reserve Fund, the Interest Account, the Principal Account, the Retirement Account and the Surplus Account from any other Fund or Account pursuant to the requirements of the Indenture with respect to the Series 1999-1 Notes or the Student Loans Financed with the proceeds thereof shall be deposited to the credit of the Series 1999-1 Acquisition Account, the Series 1999-1 Administration Account, the Series 1999-1 Reserve Account, the Series 1999-1 Interest Subaccount, the Series 1999-1 Principal Subaccount, the Series 1999-1 Retirement Subaccount or the Series 1999-1 Surplus Subaccount, respectively, and as appropriate. Except as heretofore provided in this Section 21, nothing herein shall be deemed to prohibit (1) the Trustee from using Balances of any Account or Subaccount established by this Section 21 to remedy deficiencies for which Balances of the Fund or Account in which such Account or Subaccount is established are subject to use under the Indenture, or (2) the application of Balances of any Account or Subaccount established by this Section 21 for any purpose for which Balances of the Fund or Account in which such Account or Subaccount is established are authorized to be applied by the Indenture. When there shall be no Series 1999-1 Notes Outstanding, the Series 1999-1 Acquisition Account shall terminate and any Balance thereof at such time shall be used as other Balances of the Acquisition Fund. When there shall be no Series 1999-1 Notes Outstanding, the Series 1999-1 Interest Account shall terminate and any Balance thereof at such time shall be used as other Balances of the Interest Account, the Series 1999-1 Principal Account shall terminate and any Balance thereof at such time shall be used as other Balances of the Principal Account, the Series 1999-1 Retirement Account shall terminate and any Balance thereof at such time shall be used as other Balances of the Retirement Account, the Series 1999-1 Reserve Account shall terminate and any Balance thereof at such time shall be used as other Balances of the Reserve Fund and the Series 1999-1 Surplus Subaccount shall terminate and any Balance thereof at such time shall be used as other Balances of the Surplus Account.
Sample 1See All (6)
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Surplus Subaccount. The Corporation may, at any time prior to November 25, 2001, by Corporation Order, direct that all or a portion of the Balance in the Series 2001-1 Capitalized Interest Account be transferred to the Series 2001-1 Acquisition Subaccount and thereafter applied in the same manner as those amounts originally deposited to the credit of the Series 2001-1 Acquisition Subaccount pursuant to Section 15 of this Third Supplemental Indenture, provided (i) that the Corporation has certified in such Corporation Order that, based on a Cash Flow Projection, any such amount is not reasonably expected to be needed to remedy a deficiency in the Series 2001-1 Interest Subaccount as described above, and (ii) such transfer and application will not result in the reduction or withdrawal of the outstanding rating assigned by any Rating Agency to the Series 2001-1 Notes, as evidenced in writing to the Trustee by each such Rating Agency. Any amounts remaining in the Series 2001-1 Capitalized Interest Account as of July 1, 2003, shall be transferred by the Trustee to the Series 2001-1 Retirement Account and thereafter applied to the redemption of Series 2001-1 Notes pursuant to Section 16(C) hereof.
Sample 1
Surplus Subaccount. The price paid to purchase an Eligible Loan from the Balances in the Series 2002-1 Acquisition Account (other than the Eligible Loans to be purchased pursuant to the Series 2002-1 Transfer Agreement, the purchase price for which is set forth in such agreement) or the Series 2002-1 Surplus Subaccount shall not exceed 100% of the remaining unpaid principal amount of such Eligible Loan, plus accrued Special Allowance Payments and noncapitalized borrower interest thereon, if any, to the date of purchase, reasonable transfer, origination and assignment fees, if applicable, and, in the case of FFELP Loans only, a premium which would not cause the weighted average of the premiums paid on all FFELP Loans Financed from the Series 2002-1 Acquisition Account and the Series 2002-1 Surplus Subaccount to exceed 1.75% (or such greater premium the payment of which will not materially adversely affect the Corporation's ability to pay Debt Service on the Outstanding Notes, Other Indenture Obligations, Carry-Over Amounts (including accrued interest thereon) with respect to Outstanding Notes, Administrative Expenses or Note Fees or to make required transfers to the Indemnification Fund, as shown in a subsequent Cash Flow Projection received by the Trustee, and which will not result in the reduction or withdrawal of the outstanding rating assigned by any Rating Agency to the Series 2002-1 Notes, as evidenced in writing to the Trustee by each such Rating Agency), and as otherwise authorized by Section 4.2
Sample 1
Surplus Subaccount. The Corporation may, at any time prior to April 5, 2000, by Corporation Order, direct that all or a portion of the Balance in the Series 1999-1 Capitalized Interest Account be transferred to the Series 1999-1 Acquisition Subaccount and thereafter applied in the same manner as those amounts originally deposited to the credit of the Series 1999-1 Acquisition Subaccount pursuant to Section 15 of this First Supplemental Indenture, provided that the Corporation has certified in such Corporation Order that, based on a Cash Flow Projection, any such amount is not reasonably expected to be needed to remedy a deficiency in the Series 1999-1 Interest Subaccount as described above. Any amounts remaining in the Series 1999-1 Capitalized Interest Account as of December 1, 2002, shall be transferred by the Trustee to the Series 1999-1 Retirement Account and thereafter applied to the redemption of Series 1999-1 Notes pursuant to Section 16(C) hereof.
Sample 1
Surplus Subaccount. The price paid to purchase an Eligible Loan from the Balances in the Series 2004-1 Acquisition Account (other than the Eligible Loans to be purchased pursuant to the Series 2004-1 Transfer Agreement, the purchase price for which is set forth in such agreement) shall not exceed 100% of the remaining unpaid principal amount of such Eligible Loan, plus accrued Special Allowance Payments and noncapitalized borrower interest thereon, if any, to the date of purchase, reasonable transfer, origination and assignment fees, if applicable, and, in the case of FFELP Loans only, a premium
Sample 1
Surplus Subaccount. The Corporation shall not purchase or originate (A) any FFELP Loan from the Balances in the Series 2004-1 Acquisition Account if, as a result of an amendment to the Higher Education Act after the date of this First Supplemental Indenture (other than an amendment contained in a xxxx currently pending in Congress and subsequently enacted into law), such FFELP Loan bears a rate of interest that is lower than the rate of interest such FFELP Loan would have borne under the Higher Education Act as it currently exists, or (B) any Consolidation Loan from the Balances in the Series 2004-1 Acquisition Account that has a final payment date beyond November 30, 2036, unless the Corporation delivers to the Trustee (1) a Corporation Certificate certifying that, based on a Cash Flow Projection, the purchase or origination of such FFELP Loan or Consolidation Loan will not materially adversely affect the Corporation's ability to pay Debt Service on the Outstanding Notes and on Outstanding Other Obligations, to pay Carry-Over Amounts (including accrued interest thereon) with respect to Outstanding Notes or to make required deposits to the Indemnification Fund, and (2) written confirmation from each Rating Agency then rating the Series 2004-1 Notes that the purchase or origination of such FFELP Loan or Consolidation Loan will not result in a reduction or withdrawal of the rating of the Series 2004-1 Notes.
Sample 1

Related to Surplus Subaccount

  • 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.

  • Income Account The Trustee shall collect the dividends and other cash distributions on the Securities in each Trust which would be treated as dividend (other than capital gain dividends) or interest income under the Internal Revenue Code as such become payable (including all monies which would be so treated representing penalties for the failure to make timely payments on the Securities, or as liquidated damages for default or breach of any condition or term of the Securities or of the underlying instrument relating to any Securities and other income attributable to a Failed Contract Obligation for which no Replacement Security has been obtained pursuant to Section 3.12 hereof) and credit such income to a separate account for each Trust to be known as the "Income Account." Any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account. Except as provided in the preceding sentence, non-cash distributions received by a Trust (other than a non-taxable distribution of the shares of the distributing corporation which shall be retained by a Trust) shall be dealt with in the manner described in Section 3.11, herein, and shall be retained or disposed of by such Trust according to those provisions and the proceeds thereof shall be credited to the Capital (Principal) Account. Neither the Trustee nor the Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. All other distributions received by a Trust shall be credited to the Capital (Principal) Account."

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Excess Reserve Fund Account; Distribution Account (a) The Securities Administrator shall establish and maintain the Excess Reserve Fund Account, on behalf of the Class X Certificateholders, to receive that portion of the distributions on the Class X Interest up to an amount equal to any Basis Risk Payments and to pay to the LIBOR Certificateholders any Basis Risk Carry Forward Amounts (prior to using any Net Swap Receipts). For the avoidance of doubt, any Basis Risk Carry Forward Amounts shall be paid to the LIBOR Certificates first from the Excess Reserve Fund Account and then from the Supplemental Interest Trust. On each Distribution Date on which there exists a Basis Risk Carry Forward Amount on any Class of LIBOR Certificates, the Securities Administrator shall (1) withdraw from the Distribution Account and deposit in the Excess Reserve Fund Account, as set forth in Section 4.02(a)(iii)(L), the lesser of the Class X Distributable Amount (to the extent remaining after the distributions specified in Sections 4.02(a)(iii)(A)-(K) and without regard to the reduction in clause (iii) of the definition thereof for any Basis Risk Carry Forward Amounts or any Defaulted Swap Termination Payment) and the aggregate Basis Risk Carry Forward Amount and (2) withdraw from the Excess Reserve Fund Account amounts necessary to pay to such Class or Classes of LIBOR Certificates the applicable Basis Risk Carry Forward Amounts. Such payments, along with payments from the Supplemental Interest Trust, shall be allocated to those Classes based upon the amount of Basis Risk Carry Forward Amount owed to each such Class and shall be paid in the priority set forth in Section 4.02(a)(iii)(M). In the event that the Class Certificate Balance of any Class of Certificates is reduced because of Applied Realized Loss Amounts, the applicable Certificateholders will not be entitled to receive Basis Risk Carry Forward Amounts on the written down amounts on such Distribution Date or any future Distribution Dates (except to the extent such Class Certificate Balance is increased as a result of any Subsequent Recoveries), even if funds are otherwise available for distribution. The Securities Administrator shall account for the Excess Reserve Fund Account as an asset of a grantor trust under subpart E, Part I of subchapter J of the Code and not as an asset of any Trust REMIC created pursuant to this Agreement. The beneficial owners of the Excess Reserve Fund Account are the Class X Certificateholders. Any Basis Risk Carry Forward Amounts distributed by the Securities Administrator to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Securities Administrator, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates. In addition, the Securities Administrator shall account for the rights of Holders of each Class of LIBOR Certificates to receive payments of Basis Risk Carry Forward Amounts from the Excess Reserve Fund Account (along with payments of Basis Risk Carry Forward Amounts and without duplication, Upper-Tier Carry Forward Amounts from the Supplemental Interest Trust) as rights in a separate limited recourse interest rate cap contract written by the Class X Certificateholders in favor of Holders of each such Class. Notwithstanding any provision contained in this Agreement, the Securities Administrator shall not be required to make any payments from the Excess Reserve Fund Account except as expressly set forth in this Section 3.27(a).

  • 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).

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within two (2) Business Days after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Grantor Trust Holder:

  • 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.

  • RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance Reserve Account Deposits Made Reserve Account Draw Amount Ending Reserve Account Balance Change in Reserve Account Balance Specified Reserve Balance

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

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