Net Depositor definition

Net Depositor means Borrower as of the end of any calendar month in which the sum of all of Borrower’s unrestricted cash and investments is greater than or equal to Borrower’s Funded Debt for such calendar month; provided that a Net Depositor shall cease to be a Net Depositor on the day it becomes a Net Borrower.
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Net Depositor means Borrower as of the end of any calendar month in which (a) the sum of (i) such Borrower’s unrestricted cash and investments maintained with Bank and Bank’s Affiliates in the United States for such calendar month (provided that Bank has a fixed charge over the account in which such cash is held) and (ii) fifty percent (50%) of Borrower’s unrestricted cash and Cash Equivalents maintained in the United Kingdom with respect to which Bank has a fixed or floating charge for such calendar month, is greater than or equal to (b) Borrower’s Funded Debt for such calendar month; provided that a Net Depositor shall cease to be a Net Depositor on the day it becomes a Net Borrower.
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Examples of Net Depositor in a sentence

  • Changes in the applicable interest rate as a result of changes in Borrower’s status as a Net Borrower or Net Depositor or as a result of changes in Borrower’s Quick Ratio shall not become effective until the first (1st) day of the month following such change.

  • Changes in the applicable interest rate as a result of changes in Borrower’s status as a Net Borrower, Net Depositor or Net Daily Depositor or as a result of changes in Borrower’s Adjusted Quick Ratio shall not become effective until the first (1st) day of the month following such change.

Related to Net Depositor

  • Depositor means Advisors Asset Management, Inc. and its successors in interest, or any successor depositor appointed as hereinafter provided."

  • Trust Depositor means Harley-Davidson Customer Funding Corp., in its capacity as trust depositor under the Sale and Servicing Agreement.

  • Lead Depositor means the Depositor under the Lead Securitization Servicing Agreement.

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Mortgage Loan Seller Sub-Servicer A Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed on Exhibit S to this Agreement, or any successor thereto.