Excess Funds Subaccount definition

Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.
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Excess Funds Subaccount means the excess funds subaccount established by the Indenture Trustee pursuant to Section 8.02(a) of the Indenture.
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Excess Funds Subaccount with respect to the Bonds, has the meaning specified in Section 8.02(a) of the Indenture and, with respect to any Additional Bonds, the meaning set forth in the applicable Additional Indenture.
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Examples of Excess Funds Subaccount in a sentence

  • In addition, if on any Payment Date funds on deposit in the General Subaccount are insufficient to make the allocations contemplated by clause (x) above, the Indenture Trustee shall draw from amounts on deposit in the Excess Funds Subaccount to make such allocations.

  • Initially, the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”).

  • No Excess Remittance shall be withdrawn from the Collection Account if such withdrawal would cause the amounts on deposit in the General Subaccount or the Excess Funds Subaccount to be insufficient for the payment of the next installment of interest or principal due at maturity on the next Payment Date or upon acceleration on or before the next Payment Date on the SAC Bonds.


More Definitions of Excess Funds Subaccount

Excess Funds Subaccount means any residual or excess funds subaccount of the Collection Account other than the Reserve Subaccount.
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Excess Funds Subaccount. Balance: c)
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