Equity Reserve Account definition

Equity Reserve Account. The accounts (including foreign currency and investment accounts) of the Borrower established for the purposes set out in Clause 10 (Equity Reserve Account) and maintained with Bayerische Hypo- und Vereinsbank AG or HVB Banque Luxembourg Société Anonyme.
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Equity Reserve Account shall have the meaning ascribed thereto in Section 8.3.
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Examples of Equity Reserve Account in a sentence

  • The Borrower shall give the Agent at least ten (10) Business Days prior written notice, specifying the principal amount outstanding under Tranche A to be prepaid, and the amount to be drawn under the Equity Reserve Account or, as the case may be, Tranche D2.

  • Any balance on the Equity Reserve Account from time to time will count towards the Target Balance.

  • The Borrower shall have the right, effective on the first day of any Interest Period commencing within 18 months after Acceptance, to prepay any amount outstanding under Tranche A by drawing an equivalent amount from the Equity Reserve Account or, if the balance standing to the credit of such account is insufficient for the purpose, by drawing an amount of up to EUR 5 million under Tranche D2 to the extent necessary to meet the EU-Equity Test.

  • The Agent is entitled to set off the credit balance in the Equity Reserve Account against any obligations of the Borrower due and payable under the Financing Documents to the Lenders if the Borrower does not, does not on time or does not entirely perform such obligations.

  • The Equity Reserve Account will be funded by Excess Start-Up Cash Flows and by the amount determined in accordance with Clause 2.6.2 (b) (vi) of the Shareholders’ Undertaking Agreement in accordance with the provisions of the Shareholders’ Undertaking Agreement.

  • The Equity Reserve Account will be used for securing the Lenders’ claims under the Financing Documents in priority to the funds on the Debt Service Reserve Account.

  • The Equity Reserve Account will be used for securing the Lenders’ and the Blue Mill Lenders’ claims under the Financing Documents in priority to the funds on the Debt Service Reserve Account.

  • The Equity Reserve Account will be funded by Excess Start-Up Cash Flows and by the amount determined in accordance with Clause 2.4.2 (b) (vi) of the Shareholders’ Undertaking Agreement in accordance with the provisions of the Shareholders’ Undertaking Agreement.

  • The Agent is entitled to set off the credit balance in the Equity Reserve Account against any obligations of the Borrower due and payable under the Financing Documents to the Lenders and the Blue Mill Lenders if the Borrower does not, does not on time or does not entirely perform such obligations.

  • The Equity Reserve Account will be funded by Excess Start-Up Cash Flows and by the amount determined in accordance with Clause 2.6.2 (b) (vi) of the Shareholders' Undertaking Agreement in accordance with the provisions of the Shareholders' Undertaking Agreement.