Liquidity Reserve Account Required Balance definition

Liquidity Reserve Account Required Balance means, as of any determination date, an amount equal to the sum of (i) the product of (a) the aggregate outstanding principal balance of all Advances as of such date, times (b) (1) during the Availability Period, 1.00% or (2) after the Availability Period, 0% plus (ii) the Final Stage Date Solar Asset Reserve Amount plus (iii) the Substantial Stage Date Solar Asset Reserve Amount plus (iv) the Capitalized Interest Reserve Required Amount plus (v) the First Payment Date Reserve Amount.

Liquidity Reserve Account Required Balance means an amount equal to 50% of the Liquidity Reserve Account Target Amount.

Liquidity Reserve Account Required Balance means an amount equal to 50% of the Liquidity Reserve Account Initial Deposit.

Examples of Liquidity Reserve Account Required Balance in a sentence

• The amount on deposit in the Liquidity Reserve Account shall not be less than the Liquidity Reserve Account Required Balance, taking into account the application of the proceeds of the Advances on the Funding Date.

• Amounts on deposit in the Liquidity Reserve Account are at any time less than the Liquidity Reserve Account Required Balance and such deficit is not cured on the earlier of the next Borrowing Date or the next Payment Date or the Borrower fails to deposit the Equipment Replacement Reserve Deposit in the Equipment Replacement Reserve Account in accordance with Section 2.7 as of any Payment Date and such failure is not cured on the earlier of the next Borrowing Date or the next Payment Date.

• Proceeds of the Advances (Solar Loans) shall only be used by the Borrower to (1) purchase Solar Loans and the related SL Solar Assets from the Seller (Solar Loans) under the Sale and Contribution Agreement (Solar Loans), (2) make deposits into the Liquidity Reserve Account (up to the Liquidity Reserve Account Required Balance), and (3) pay certain fees and expenses incurred in connection with establishment of the credit facility set forth in this Agreement.

• The amount on deposit in the Liquidity Reserve Account shall not be less than the Liquidity Reserve Account Required Balance, taking into account the application of the proceeds of the Advances on the Borrowing Date.

• In connection with the funding of each Advance, the Borrower (or the Agent, on the Borrower’s behalf, out of the proceeds of the initial Advance) shall cause to be deposited into the Liquidity Reserve Account an amount such that the amount on deposit therein is equal to the Liquidity Reserve Account Required Balance.

More Definitions of Liquidity Reserve Account Required Balance

Liquidity Reserve Account Required Balance means (i) as of the Closing Date, $[***] and (ii) as of any other date, an amount equal to [***].

Liquidity Reserve Account Required Balance. “Maturity Date”, “Maximum Facility Amount”, “Supplemental Reserve Account Deposit”, “Takeout Transaction”, or, in each case, any defined terms within such definitions; (g) release any party to any Transaction Document from material obligations under any Transaction Document; (h) change the provisions of this Agreement relating to the application of collections on, or the proceeds of the sale of, all or any portion of the Collateral; (i) impair the right to institute suit for enforcement of the provisions of this Agreement; (j) reduce the percentage of Majority Lenders the consent of which is necessary to (k) approve any amendment to this Agreement or (2) direct the sale or liquidation of the Collateral; (l) permit the creation of any lien or security interest; (m) change the currency required for payments of Obligations owing to any Lender under this Agreement; or (n) waive, limit, reduce or impair any condition precedent required to be satisfied for the making of an Advance.

Liquidity Reserve Account Required Balance means on any date of determination, an amount equal to the sum of (i) the product of (a) six, (b) one-twelfth, (c) the Aggregate Outstanding Advances and (d) the weighted average effective per annum rate used to calculate the Class A Interest Distribution Amounts, the Class B Interest Distribution Amounts, the Class A Additional Interest Distribution Amount and the Class B Additional Interest Distribution Amounts, if any, for the immediately preceding Payment Date or, with respect to the initial Payment Date hereunder, [***]%, (ii) the Final Stage Solar Asset Reserve Amount, (iii) the Substantial Stage Date Solar Asset Reserve Amount, (iv) the First Payment Date Reserve Amount, (v) the New Construction Final Stage Solar Asset Reserve Amount and (vi) the New Construction Substantial Stage Date Solar Asset Reserve Amount.

Liquidity Reserve Account Required Balance means for any Payment Date, an amount equal to 50% of the expected Note Interest and Senior Transaction Fees payable for the first six (6) Payment Dates following the Closing Date, as determined by the Manager as of the Closing Date.

Liquidity Reserve Account Required Balance means, as of any determination date, an amount equal to the sum of (i) the product of (a) the aggregate outstanding principal balance of all Advances as of such date, times (b) (1) during the Availability Period, 1.00% or (2) after the Availability Period, 0% plus (ii) the Final Stage Date Solar Asset Reserve Amount plus (iii) the Substantial Stage Date Solar Asset Reserve Amount plus (iv) the Capitalized Interest Reserve Required Amount plus (v) the First Payment Date Reserve Amount plus (vi) upon the occurrence and the continuance of a Liquidity Reserve Step-Up Event, the product of (a) the Aggregate Solar Loan Balance as of such date of determination, times (b) [***]%.

Liquidity Reserve Account Required Balance means an amount equal to (i) on any Payment Date during a DSCR Sweep Period, the then Aggregate Outstanding Note Balance (after giving effect to principal payments on such Payment Date) and (ii) on any other Payment Date, the Liquidity Reserve Account Floor Amount.

Liquidity Reserve Account Required Balance. “Post-PTO Reserve Account Required Balance”, or any of the component definitions of any thereof in a manner that would have the effect of increasing the Borrowing Base in any material respect without the written consent of all Lenders, except for any amendment to any such definition to (x) correct any scrivener error(s) or (y) clarify the meaning of any such definition; (xiii) amend the definition of Commitment or Exhibit E hereto without the consent of the Lender whose Commitment would be impacted thereby (it being understood that reductions of Commitments pursuant to Section 2.6(A) and increases in Commitments pursuant to Section 2.6(B) shall be governed by such Sections); (xiv) release or subordinate all or any material portion of the Collateral, or any Relevant Party from its obligations under the Collateral Documents or any membership interests without the written consent of each Lender, in each case, other than in connection with a disposition permitted hereunder; or (xv) effect an amendment pursuant to Section 10.29 or otherwise amend or waive compliance with paragraph 25 of Schedule II, in each case, without the consent of the Super-Majority Lenders. The Borrower agrees to provide notice to each party hereto of any amendments to or waivers of any provision of this Agreement; provided that the Borrower shall provide the Conduit