LifeNotes Account definition

LifeNotes Account has the meaning set forth in Section 5.l (a) to this Agreement.
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LifeNotes Account has the meaning set forth in Section 5.1(a) to this Agreement. “Liquidity Providers” means DZ Bank, Autobahn Funding Company LLC, each other party to whom any “Obligations” (as defined in the DZ Bank Credit and Security Agreement) are owed pursuant to the Transaction Documents, and providers of future lines of credit that Borrower or its Subsidiaries may enter into from time to time whose interests are senior in right and claim to those of the Lender. “Loan” means any amount disbursed as the Principal Amount by any Lender to the Borrower under a Promissory Note issued pursuant Section 2 to this Agreement. “Loan Term” means the duration of any Promissory Note from note issuance to Maturity Date issued pursuant to Section 2 to this Agreement. “Loan Issuance Limit” has the meaning set forth in Section 2.1 to this Agreement. 8 “Master Collateral Agent Agreements” means the Custodian Agreement, dated as of July 15, 2008, among GWG DLP Funding II, LLC, Borrower, United Lending SPV, LLC, United Lending, LLC, the Master Collateral Agent and DZ Bank and any collateral agent agreement entered into with a future Liquidity Provider of the Borrower or any of its Subsidiaries, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents. “Master Collateral Agent” means ▇▇▇▇▇ Fargo, in its capacity as master collateral agent under the Master Collateral Agent Agreements or any collateral agent agreement entered into with a future Liquidity Provider of the Borrower or any of its Subsidiaries. “Master Collateral Agent Fees” means the fees payable to Master Collateral Agent as set forth in the applicable fee schedule. “Master Servicer” means Borrower, or its assignee, in its capacity as Master Servicer under the applicable Servicing Agreements. “Master Servicing Fee” means a fee to be paid to the Master Servicer at the time of the purchase of each Eligible Life Insurance Policy in the format specified in the Transaction Documents. “Master Trusts” means GWG DLP Master Trust II, a Delaware statutory trust and any future master trust that may be created, or wholly-owned or partially-owned, by Borrower and its Subsidiaries. “Master Trust Agreements” means the Trust Agreement among the Trustee, ▇▇▇▇▇ Fargo Delaware Trust Company and GWG DLP Funding II, LLC pursuant to which the GWG DLP Master Trust II is established and any future trust agreement pursuant to which any Master Trust may be created or owned by Borrower...
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Examples of LifeNotes Account in a sentence

  • The Borrower shall establish and maintain the LifeNotes Account for purposes of this Agreement.

  • The Borrower shall not close the LifeNotes Account unless GWG Trustee shall have consented thereto in its sole discretion.

  • All proceeds received from the issuance of Promissory Notes shall be deposited into the LifeNotes Account.

  • Borrower shall establish and maintain, in the name of the Borrower, an Eligible Account bearing a designation clearly indicating that the funds deposited therein are held for the benefit of GWG Trustee (the “LifeNotes Account”), All proceeds received from the issuance of Promissory Notes and all proceeds received by Borrower from GWG DLP Funding II, LLC and Subsidiaries related to proceeds received on Conveyed Property or Collateral shall be deposited into the LifeNotes Account.

  • If at any time the Borrower shall receive any Collections or other proceeds of any Collateral other than through payment into the LifeNotes Account, the Borrower shall promptly (but in any event within two (2) Business Days of receipt thereof) remit or cause to be remitted all such Collections or other proceeds to the LifeNotes Account.

  • The Borrower shall, and shall cause GWG DLP Funding II, LLC and Subsidiaries to, deposit all proceeds received by Borrower from GWG DLP Funding II, LLC and Subsidiaries related to proceeds received on Conveyed Property into the LifeNotes Account.

  • Payments received by Borrower for fees related to its services as the Master Servicer or Originator shall not be deposited in the LifeNotes Account.

  • Upon the occurrence of a Triggering Event (as defined in the Intercreditor Agreement), funds on deposit in the LifeNotes Account (including proceeds from a Liquidity Provider) shall be applied as set forth in the Intercreditor Agreement.

  • Funds at any time held in the LifeNotes Account may be invested and reinvested by Borrower (unless an Event of Default shall have occurred and be continuing, in which case at the written direction of GWG Trustee, subject to instructions by the Liquidity Providers) in one or more Permitted Investments in a manner provided in Section 5.3(c).

  • In addition to its obligations under Section 3.4 and Section 12, the Borrower agrees to pay on demand: (a) all reasonable and actual costs and expenses incurred by each Lender and GWG Trustee, in connection with (i) the perfection of the GWG Trust’s security interests in the Collateral and (ii) the maintenance of the LifeNotes Account; and (b) all stamp and other Taxes and fees payable or determined to be payable in connection with the execution, delivery, filing and recording of this Agreement.