Preferred Deposit definition

Preferred Deposit has the meaning set forth in Section 5.19(a) of this Agreement.
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Preferred Deposit means any deposit of assets of the Borrower with any tender agent, redemption agent, paying agent or any other agent of the Borrower or other Person, as the case may be, with respect to the VRDP Shares. To the extent the Borrower is not entitled to access any assets contained in any Liquidity Account, then the deposit of assets in the Liquidity Account shall also constitute Preferred Deposits.
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Examples of Preferred Deposit in a sentence

  • Notwithstanding anything to the contrary contained in this Agreement, if Parent fails to make the Preferred Deposit as contemplated by the preceding sentence, the Company may, in its sole discretion, make all or any part of the Preferred Deposit with the Paying Agent and may effect the Preferred Redemption if there is no Company Preferred Approval Event.

  • The Company and its consolidated Subsidiaries shall (a) have surplus after giving effect to the Preferred Redemption (which includes, for the avoidance of doubt, the Preferred Deposit made by Parent) and (b) not be Insolvent after giving effect to the Preferred Redemption based on the assumption that the Company were to continue to conduct its business on a standalone business without the consummation of the Merger.

  • If there is no Company Preferred Approval Event, then no later than the opening of business on the Closing Date, (i) Parent shall make the Preferred Deposit with the Paying Agent and (ii) the Company shall at the time of the Preferred Deposit give the Paying Agent irrevocable instructions and authority to pay on the date set for redemption the Secondary Company Redemption Price to the holders of Company Preferred Stock to be redeemed as set forth in the Company Redemption Notice.

  • The Preferred Deposit Account will be closed 50 days after the account becomes delinquent.

  • Preferred Deposit cannot be used to pay an existing loan or as deposit counterpart for other loans.

  • Max loanable amount is 90% of the total Preferred Deposit amount.

  • No single person is allowed to own more than 10% of the total paid up Preferred Deposit in OIC.

  • A pre-termination charge applies if Preferred Deposit is withdrawn prior to the maturity date.

Related to Preferred Deposit

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Spread Account Initial Deposit means, with respect to the Closing Date, an amount equal to ___% of the aggregate principal balance of the Receivables as of the Cutoff Date (which is equal to $____________).

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]