Examples of Future Funding Asset in a sentence
A deposit into the Future Funding Asset Account is not required to be made in connection with the purchase of an Future Funding Asset to the extent that the Total Unfunded Future Advance Amounts, including the Unfunded Future Advance Amounts with respect to such Future Funding Asset, are less than the Available Aggregate Class A-R Undrawn Amount.
Buyer shall determine in its sole and absolute discretion whether or not it is willing to purchase any or all of the proposed Eligible Assets, and if so, on what terms and conditions (including, without limitation, whether to accept a proposed Eligible Asset as a Future Funding Asset).
The only permitted withdrawals from the Unfunded Reserve Account shall be (a) to pay or fund any unfunded portion of Future Funding Assets held by the Company, (b) upon the sale, transfer or assignment of any Future Funding Asset, an amount equal to the unfunded portion of such Future Funding Asset to the Collection Account, and (c) in the event such unfunded commitments with respect to such Future Funding Asset are terminated.
As directed by the Collateral Manager in writing and in accordance with this Indenture, amounts on deposit in the Future Funding Asset Account shall be invested in overnight funds that are Eligible Investments.
On the Business Day immediately preceding each Payment Date, the income received on amounts contained in the Future Funding Asset Account during the related Due Period shall be withdrawn from such account and deposited in the Collection Account as Collateral Interest Collections.
If at any time the Company acquires any Future Funding Asset, if the Company fails to transfer or assign such Future Funding Asset to another Parent Entity or any other third party within 60 days, the Company shall direct the Collateral Agent to transfer available funds of the Company in amount equal to the unfunded portion of such Future Funding Asset from the Collection Account into the Unfunded Reserve Account.
The delivery by the Trustee of evidence of the establishment of the Payment Account, the Collection Account (including each Collateral Sub-Account established therein), the Expense Reserve Account, the Interest Reserve Account, the Collateral Account, the Future Funding Asset Account, the Class A-R Holder Collateral Account and the Uninvested Proceeds Account and, to be established on the Closing Date.
Evidence of the establishment of the Custodial Account, the Collection Account, the Payment Account, the Uninvested Proceeds Account, the Closing Date Expense Account, the Hedge Termination Receipts Account, the Expense Reserve Account and the Future Funding Asset Account.
Upon initial purchase of an Future Funding Asset, such Future Funding Obligation shall be treated as part of the purchase price for such Collateral Interest.
The Issuer (at the direction of the Collateral Manager) will deposit any Class A-R Draws into the Future Funding Asset Account.