Accumulation Reserve Account definition

Accumulation Reserve Account has the meaning specified in Section 4.11(a).

Accumulation Reserve Account means the trust account designated as such and established pursuant to Section 5.01(a).

Accumulation Reserve Account means the Eligible Deposit Account designated as such and established pursuant to subsection 4.13(a).

Examples of Accumulation Reserve Account in a sentence

• The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

• In the event that the Accumulation Reserve Account Surplus on any Payment Date, after giving effect to all deposits to and withdrawals from the Accumulation Reserve Account with respect to such Payment Date, is greater than zero, the Indenture Trustee (acting in accordance with the instructions of the Servicer) shall withdraw from the Accumulation Reserve Account, and pay to the holder of the Transferor Indebtedness an amount equal to such Accumulation Reserve Account Surplus.

• The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time credited to the Accumulation Reserve Account and in all proceeds thereof.

• The Accumulation Reserve Account shall be considered a Supplemental Issuer Account and held by the Indenture Trustee in accordance with subsection 5.02(c) of the Indenture.

• If at any time the Accumulation Reserve Account ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf) shall within ten Business Days (or such longer period, so long as the Note Rating Agency Condition is satisfied) establish a new Accumulation Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any funds or other property to such new Accumulation Reserve Account.

More Definitions of Accumulation Reserve Account

Accumulation Reserve Account or “Class C Reserve Account,” as the case may be. Each tranche of Notes will have its own sub-Account within the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account. The Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account will receive deposits pursuant to Article III.

Accumulation Reserve Account means the Series Account designated as such and established pursuant to Section 5.01(a).

Accumulation Reserve Account or “Class C Reserve Account,” as the case may be. Each tranche of Notes will have its own sub- Account within the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account. The Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account will receive deposits pursuant to Article III.

Accumulation Reserve Account means the trust account designated as such and established pursuant to subsection 6.01(a).

Accumulation Reserve Account. “Class C Reserve Account” or “Class D Reserve Account,” as the case may be. Each Tranche of Notes will have its own sub-Account within the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, with respect to the Class C Notes, the Class C Reserve Account and, with respect to the Class D Notes, the Class D Reserve Account, each of which will be referred to as an “Interest Funding sub-Account,” a “Principal Funding sub-Account,” an “Accumulation Reserve sub-Account,” a “Class C Reserve sub-Account” or a “Class D Reserve sub-Account,” respectively. The Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Class D Reserve Account will receive deposits pursuant to Article IV.

Accumulation Reserve Account means the accumulation reserve account or accounts opened and maintained by the Loan Note Issuer No.1 and maintained with a Qualified Institution in the UK and described in the Loan Note Issuer No.1 Account Bank Agreement and clause 34 of the Security Trust Deed and Cash Management Agreement; Accumulation Reserve Account Funding Date has the meaning given to it in the Security Trust Deed and Cash Management Agreement; Accumulation Reserve Account Ledger has the meaning given to it to it in the Security Trust Deed and Cash Management Agreement; Accumulation Reserve Account Surplus shall mean in relation to each Loan Note, with respect to any Transfer Date on or after the Accumulation Reserve Account Funding Date for a Loan Note, the amount, if any, by which the amount on deposit in the Accumulation Reserve Account and credited to the Accumulation Reserve Account Ledger for that Loan Note exceeds the Required Accumulation Reserve Account Amount for such Loan Note; Accumulation Reserve Account Surplus Amount shall mean a constituent element of any payment of Additional Funds paid by the Investor Beneficiary (Term) to the Receivables Trustee in the circumstances and manner set out in clause 34.6(d) (Accumulation Reserve Account) of the Security Trust Deed and Cash Management Agreement;

Accumulation Reserve Account or "Class C Reserve Account," as the case may be. Each tranche of Notes will have its own sub-Account within the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account. The Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account and the Class C Reserve Account will receive deposits pursuant to Article III. (b) Notwithstanding any provision of Section 403(a) of the Indenture to the contrary, any prefunded amounts on deposit in the Principal Funding Account will be invested in Permitted Investments that will mature no later than the following Business Day. (c) All payments to be made from time to time by the Indenture Trustee to Noteholders out of funds in the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account or the Class C Reserve Account pursuant to this Indenture Supplement will be made by the Indenture Trustee to the Paying Agent not later than 12:00 noon on the applicable Interest Payment Date or Principal Payment Date but only to the extent of available funds in the applicable sub-Account or as otherwise provided in Article III. (d) On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Class C Reserve Account will be retained in the Class C Reserve Account (to the extent that the sum of the amount on deposit in the Class C Reserve Account with respect to the related Monthly Period is less than the required balance for the Class C Reserve Account for that Monthly Period) and the excess, if any, will be paid to the Issuer. [END OF ARTICLE V]