Notes Reserve definition
Examples of Notes Reserve in a sentence
In such circumstances, the Trustee shall promptly direct the Collateral Custodian to wire such amounts from the Notes Reserve Account to the Notes Payment Account.
All income from such Cash Equivalents shall be retained in the Notes Reserve Account, subject to release as permitted by this Indenture.
The Notes Reserve Account shall be subject at all times to an Account Control Agreement.
The Company shall have no obligation under the 10-Year Notes Indenture to transfer or deposit any amounts into the 10-Year Notes Reserve Account.
No passbook, certificate of deposit or other similar instrument evidencing the 10-Year Notes Reserve Account shall be issued, and the Trustee shall retain all contracts, receipts and other papers governing or evidencing the 10-Year Notes Reserve Account.
All right, title and interest in and to any proceeds, income and profits of the 10-Year Notes Reserve Account shall vest in the Trustee and shall constitute part of the 10-Year Notes Reserve Account.
The 7-Year Notes Reserve Account shall be subject to a first-priority security interest in favor of the Trustee, as collateral agent for the Holders of 7-Year Notes.
In such circumstances, the Trustee shall promptly direct the Collateral Custodian to wire such excess amounts from the Notes Reserve Account to the Collection Account.
The funds on deposit in the Notes Reserve Account shall at all times continue to be Collateral security for the benefit of the Notes Secured Parties.
The Company represents and warrants that as of the date of the establishment of the 7-Year Notes Reserve Account, all filings and other actions necessary or desirable for the purpose of registering notice of, perfecting and establishing the first-priority of such Lien (subject to Permitted Liens) and security interest will have been duly made or taken.