Debt Service Subaccount definition

Debt Service Subaccount has the meaning set forth in Section 2(v) hereof.

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Debt Service Subaccount shall have the meaning set forth in the Cash Management Agreement.

Debt Service Subaccount means the subaccount in the Parity Permitted Debt Service Account established for the exclusive benefit of Administrative Agent and the Lenders pursuant to the TIFIA Collateral Agency Agreement and TIFIA Collateral Agent Written Direction.

Examples of Debt Service Subaccount in a sentence

Administrative Agent shall cause the funds in the Monthly Debt Service Subaccount to be disbursed to Lenders or their designee on the Disbursement Date occurring immediately following the relevant Collection Period.
Lender shall have the right to withdraw amounts from the Debt Service Subaccount to pay default interest and late charges, if any, and to pay the Debt Service due on each Monthly Payment Date.
Administrative Agent shall have the right to withdraw amounts on deposit in the Debt Service Subaccount (i) to pay Post- Default interest and late charges, if any, (ii) to pay all principal and/or interest payments due on each Monthly Payment Date, and (iii) as to LIBOR Loans, to pay all principal and/or interest payments due on each Interest Payment Date, each as more particularly set forth in the Credit Agreement.
Lender shall have the right to withdraw amounts from the Debt Service Subaccount to pay default interest and late charges, if any, and to pay the Debt Service due on each Monthly Payment Date and any other amounts then due and payable under the Loan Documents (without duplication of other amounts payable pursuant to subsection 5(b)).
Funds collected in either Deposit Account pursuant to this Agreement shall be disbursed (including, without limitation, disbursements from the Monthly Debt Service Subaccount) in accordance with Section 10.9 hereof.
Amounts deposited from time to time into the Debt Service Subaccount pursuant to this Section 6.1.4 are referred to herein as the “Debt Service Funds”.
Agent shall disburse funds on deposit in the Debt Service Subaccount to Lender for the payments set forth in Section 2.3 of the Loan Agreement.
Administrative Agent shall have the right to withdraw amounts on deposit in the Debt Service Subaccount to pay Cash Management Fees as and when the same are due and payable.

More Definitions of Debt Service Subaccount

Debt Service Subaccount shall have the meaning set forth in the Cash Management Agreement. “Debt Yield” shall mean, as of the last day of the calendar month immediately preceding the applicable date of determination, the quotient obtained by dividing (1) Adjusted Net Cash Flow as of such date by (2) the outstanding principal amount of the Loan as of such date. Agent’s calculation of the Debt Yield (as verified by ▇▇▇▇▇▇) shall be conclusive and binding on Borrower absent manifest error. “Default” shall mean the occurrence of any event hereunder or under the Note or the other Loan Documents which, but for the giving of notice or passage of time, or both, would be an Event of Default. “Default Rate” shall mean, with respect to the Loan, a rate per annum equal to the lesser of (i) the Maximum Legal Rate, or (ii) the sum of (a) the Interest Rate and (b) five percent (5%). “Defined Benefit Plan” shall mean a plan, document, agreement, or arrangement currently or previously maintained or sponsored by Borrower, Pledgor or by any ERISA Affiliate or to which either Borrower, Pledgor or ERISA Affiliate currently makes, or previously made, contributions and which (i) provides or is expected to provide retirement benefits to employees or other workers and (ii) Borrower or Pledgor could reasonably be expected to have any liability (including liability attributable from an ERISA Affiliate). A Defined Benefit Plan shall include any plan that if it were terminated at any time, would result in Borrower, Pledgor or ERISA Affiliate being deemed to be a “contributing sponsor” (as defined in Section 4001(a)(13) of ERISA) of the terminated plan pursuant to ERISA Section 4069. A Defined Benefit Plan does not include a Multiemployer Plan. “Disclosure Document” shall have the meaning set forth in Section 13.2 hereof.

Debt Service Subaccount means the debt service subaccount created and held by the Trustee for the deposit of Borrower Loan Payments made by the Borrower as required by Subsections 4.02(a) and (b) of the Loan Agreement and by the Borrower Bond and the Master Trust Indenture.

Debt Service Subaccount has the meaning set forth in Section 6.1.4.

Debt Service Subaccount as defined in Section 2.1(b).