Examples of Liquidity Draw in a sentence
If the Trust Manager determines on any Determination Date that there is a Liquidity Shortfall for the relevant Collection Period the Trust Manager must on that date direct the Trustee to make a Liquidity Draw on or before the Payment Date following that Determination Date equal to the amount which the Trustee is permitted to draw under clause 3.1 of the Liquidity Facility.
The Trustee must, if so directed by the Trust Manager but subject to the terms of the Liquidity Facility, make that Liquidity Draw and have the proceeds of the Liquidity Draw deposited into the Collection Account on or before 11.00 am (Sydney time) on the Payment Date.
This amount will be a Liquidity Draw in relation to the relevant Determination Date (“Liquidity Draw”).
A drawing may only be made under the Liquidity Facility (a Liquidity Draw) if (among other things) no event of default subsists under the Liquidity Facility (as described in paragraph (h)) at the date of the relevant drawdown notice and the relevant drawdown date or will result from the provision of the Liquidity Draw.
The Trustee must, if so directed by the Manager, make that Liquidity Draw and have the proceeds of the Liquidity Draw deposited or transferred into the Collection Account on or before the relevant Payment Date.
Upon the occurrence of a Tier One Acceleration Event occurs, at the direction of the Lender, such Liquidity Draw shall become immediately due and payable on the date of such Tier One Acceleration Event.
This clause survives the repayment of any relevant Liquidity Draw and the termination of this agreement.
Clause 16.1 will only apply in relation to any unpaid Liquidity Draw if, at the time the Liquidity Draw was required to be paid, the aggregate of all Liquidity Draws was equal to or greater than the Liquidity Limit.
Firstly, that litter from such vehicles is better dealt with under the provisions of the LNLC Act and to exclude these vehicles would have made the operation of a public litter reporting program more difficult in that checks would need to be made against a list of licence plates which would need to be kept up to date.
If the Manager determines on any Determination Date that the Yield Reserve Draw and the Principal Draw are less than the Payment Shortfall for the relevant Collection Period, the Trustee must (at the direction of the Manager) on that date request, to the extent available, a Liquidity Draw under the Liquidity Facility Agreement equal to the difference between the Payment Shortfall and the sum of the Yield Reserve Draw and the Principal Draw.