IDC Reserve Account definition
Examples of IDC Reserve Account in a sentence
On or promptly following the Final Completion Date, the Project Company will distribute an amount equal to the amounts remaining on deposit in the Construction Escrow Account and the IDC Reserve Account, in the aggregate, upon the occurrence of the Final Completion Date (such amount, the “Aggregate Final Completion Distribution”) to the Company.
The Company shall have funded, or shall fund contemporaneously with the Closing from proceeds of the Notes, the IDC Reserve Account in an amount equal to [***].
On the Closing Date, the Company shall fund or cause to be funded the IDC Reserve Account in an amount equal to [***].
On the Closing Date, the Company shall fund or cause to be funded the IDC Reserve Account in an amount equal to $[***].
Cause the amounts remaining on deposit in the IDC Reserve Account to be transferred to the Revenue Account (as such term is defined in the Depositary Agreement).
The proceeds of the Advances shall be used to (i) fund Project Costs, (ii) fund the Debt Service Reserve Account up to the Debt Service Reserve Requirement, (iii) fund the IDC Reserve Account up to the IDC Reserve Fund Requirement, and (v) for general corporate purposes.
On the Closing Date, the Company shall fund or cause to be funded the IDC Reserve Account in an amount equal to $5,365,637.
On the date on which the Term Loans are funded to Company, there shall be deposited in the Term Loan IDC Reserve Account an amount equal to the IDC Reserve Fund Requirement.
The Term Loan IDC Reserve Account shall be used solely for the purpose of providing for the payment of Indebtedness under the Term Loan Facility.
The Collateral Trustee shall disburse funds from the Term Loan IDC Reserve Account in the manner provided for in Section 3.5(d).