RCL Account definition

RCL Account means the account designated as such pursuant to Section 5.1 of the RCL Trust Agreement.
View Source

Examples of RCL Account in a sentence

  • The RCL Trustee shall not invest any amounts deposited in the RCL Account.

  • The RCL Trustee shall have no liability for (i) the failure to invest amounts deposited in the RCL Account, or (ii) for failing to take any action or to refrain from taking any action for the reasons described in Sections 6.4(b) and 6.4(c).

  • The RCL Account shall be under the sole dominion and control of the RCL Trustee for the benefit of the RCL Beneficiaries.

  • The RCL Trustee shall deposit such contributions in the RCL Account upon receipt thereof.

  • All investment earnings on amounts deposited to the Series 2000-1 Payahead Account, including any proceeds thereof, shall be credited to the RCL Account, and losses, if any, and investment expenses resulting from Permitted Investments in the Series 2000-1 Payahead Account shall be charged to the RCL Account.

  • The RCL Trustee acknowledges that funds may be deposited in the RCL Account only as specifically provided in the Basic Documents, and that certain funds paid to RCL in respect of the Series 2000-1 Certificates and funds paid to RCL as holder of the Subordinated Notes and deposited in the Cash Collateral Account have been pledged to the Lease Trustee on behalf of the Lease Trust and the Indenture Trustee on behalf of the Senior Noteholders in accordance with the terms of the Basic Documents.

  • All investment earnings on amounts deposited to the Series 1996-1 Payahead Account, including any proceeds thereof, shall be credited to the RCL Account, and losses, if any, and investment expenses resulting from Permitted Investments in the Series 1996-1 Payahead Account shall be charged to the RCL Account.

  • On the Business Day preceding each Payment Date, the Administrative Agent shall withdraw all investment earnings on amounts deposited in the Series 2000-1 Payahead Account during the related Collection Period and any proceeds thereof and deposit such amounts in the RCL Account and shall charge to the RCL Account all losses, if any, and investment expenses resulting from Permitted Investments in the Series 2000-1 Payahead Account during the related Collection Period.

  • If necessary, to the extent not otherwise reimbursed, the RCL Trustee shall be entitled to indemnification from amounts on deposit in the RCL Account for any claims against the RCL Trustee the indemnification for which is provided pursuant to this Section 2.7. Any claim against the RCL Trustee shall be defended by the RCL Beneficiary and the RCL Trustee shall be entitled to separate counsel, the fees and expenses of which shall be paid by the RCL Beneficiary.

  • The RCL Account shall be under the sole dominion and control of the RCL Trustee for the benefit of the RCL Beneficiary.