Withdrawals from Debt Service Reserve Account. (A) Subject to paragraph (B) below, amounts standing to the credit of the Debt Service Reserve Account may be withdrawn only to pay any Financing Costs under the Facility and to make Scheduled KEL Debt Payments in accordance with the Cash Waterfall.
Withdrawals from Debt Service Reserve Account. Withdrawals may only be made from the Debt Service Reserve Account (i) in accordance with the immediately following sentence, to the extent that the Borrower is unable to pay amounts of scheduled principal or interest on the Loans then due and (ii) as otherwise agreed to in writing by the Required Lenders. If at any time the Borrower fails to make any payment of scheduled principal or interest on the Loans as and when the same shall be due (after giving effect to all applicable grace periods), the Administrative Agent (acting at the direction of the Required Lenders) may direct the Borrower to withdraw such amount from the Debt Service Reserve Account and immediately apply such amounts to the payment of such principal or interest, and to the extent such amounts are sufficient to cover the defaulted principal or interest, no Default or Event of Default shall occur or be deemed to have occurred with respect thereto; provided that the Borrower will be required to immediately replenish the Debt Service Reserve Account so as to ensure compliance with Section 2.14(a).
Withdrawals from Debt Service Reserve Account. If the amounts on deposit in the Revenue Account are at any time insufficient for the purposes of paying Debt Service then due and payable, the Lender or the Borrower may direct the Accounts Bank to withdraw Monies from the Debt Service Reserve Account on the date on which payment of such Debt Service is due and payable (to the extent that sufficient funds are then available) and transfer such Monies to the Lender in an amount necessary to cause such Debt Service to be paid in full. Within two (2) Business Days of receipt of such written notification from the Lender, the Accounts Bank shall cause funds held in the Debt Service Reserve Account to be applied pursuant to the instructions set forth in such written notification.
Withdrawals from Debt Service Reserve Account. If on any Monthly Settlement Date after the Fourth Amendment Effective Date (including after the occurrence and during the continuance of an Event of Default), the amounts on deposit in the Collection Accounts are insufficient to fully pay the amounts described in clauses (4), (5) and (8), or clauses (3) and (4) of Section 8.03(a) and (b), respectively, the Administrative Agent shall instruct City National Bank to transfer from the Debt Service Reserve Account an amount equal to the lesser of (i) the amount of such deficiency and (ii) the amount on deposit in the Debt Service Reserve Account in excess of the Expense Reserve Amount, and apply such amount to such unpaid items described in the clauses identified above. So long as no Event of Default has occurred and is continuing, if amounts on deposit in the Debt Service Reserve Account exceed of the Debt Service Reserve Required Amount as of any Quarterly Settlement Date, the Administrative Agent shall transfer such excess to a Collection Account to be applied in accordance with Section 8.03(a). 77
Withdrawals from Debt Service Reserve Account. (A) Subject to paragraph (B) below, amounts standing to the credit of:
Withdrawals from Debt Service Reserve Account. If on any Settlement Date (including after the occurrence and during the continuance of an Event of Default), the amounts on deposit in the Collection Accounts are insufficient to fully pay the amounts described in clauses (4) and (5) or clauses (3) and (4) of Section 8.03(a) and (b), respectively, the Administrative Agent shall transfer an amount equal to the lesser of (i) the amount of such deficiency and (ii) the amount on deposit in the Debt Service Reserve Account in excess of the Expense Reserve Amount, and apply such amount to such unpaid items described in the clauses identified above. Additionally, on each Settlement Date, the Administrative Agent shall remit to Parent an amount equal to the lesser of (i) the amount of all fees, costs and expenses paid in cash by Parent during the immediately preceding Settlement Period to satisfy the obligations of Parent and the other Loan Parties under Section 5.5(e) of the Guaranty and Security Agreement and (ii) the Expense Reserve Amount; provided, however, that no funds shall be remitted to Parent pursuant to this sentence if Parent and the other Loan Parties have not fully complied with their respective obligations under Section 5.5(e) of the Guaranty and Security Agreement which are required to have been complied with as of such Settlement Date. So long as no Event of Default has occurred and is continuing, if amounts on deposit in the Debt Service Reserve Account exceed of the Debt Service Reserve Required Amount as of any Settlement Date, the Administrative Agent shall transfer such excess to a Collection Account to be applied in accordance with Section 8.03(a).
Withdrawals from Debt Service Reserve Account. (i) in the event there are no or insufficient monies in the Income Account and provided the Borrower has obtained the prior written approval from the Agent acting on the instructions of the Majority Lenders, the Borrower shall, on each Interest Payment Date, on the Repayment Date and on (or after but without prejudice to the obligation of the Borrower to make payment when due) any other date on which any other amount falls due for payment to the Agent or the Lenders or the Security Trustee (or any of them) under this Agreement or any of the Security Documents, transfer and/or cause to be transferred moneys from the Debt Service Reserve Account, in or towards settlement of the interest, Security Trustee fees, commitment fees, agency fees, other fees, repayments, prepayments or other amounts then due and payable provided that such moneys shall be applied first in or towards settlement of amounts which would otherwise be the subject of an Advance pursuant to clause 4.3.
Withdrawals from Debt Service Reserve Account. (A) Subject to paragraph (B) below, amounts standing to the credit of the DSRA may be withdrawn only to pay any Financing Costs under the Facility in accordance with the Cash Waterfall.
Withdrawals from Debt Service Reserve Account. Withdrawals from the --------------------------------------------- Debt Service Reserve Account shall be made as follows: (i) The Company, to the extent sufficient funds are not in the Operating Account, shall prior to a Default and the Agent may after a Default, withdraw any amount from the Debt Service Reserve Account for the payment of any Debt Service which is not paid in full when due; and
Withdrawals from Debt Service Reserve Account. If on the Business Day preceding any Payment Date the aggregate amount of funds on deposit in the Debt Service Reserve Account is greater than the Required Reserve Amount, upon receipt of written instructions from the Administrative Agent, the Collateral Agent shall, on the Business Day prior to such Payment Date, cause to be transferred an amount equal to such excess (an “Excess Reserve Amount”) from the Debt Service Reserve Account to the Collateral Agent’s Account. If on the Business Day preceding any Payment Date the aggregate amount of funds on deposit in the Collateral Agent’s Account, after giving effect to any transfer of funds required pursuant to the immediately preceding sentence, is less than the aggregate amount of interest on the Loans payable on such Payment Date, upon receipt of written instructions from the Administrative Agent, the Collateral Agent shall, on the Business Day prior to such Payment Date, cause to be transferred an amount equal to such shortfall from the Debt Service Reserve Account to the Collateral Agent’s Account. In addition, upon receipt of written instructions from the Administrative Agent, the Collateral Agent shall cause the cash balance on deposit in the Debt Service Reserve Account to be disbursed in accordance with the third sentence of Section 2.13(b). Credit Agreement
