Redemption Account definition

Redemption Account means, in respect of ETP Securities, a bank account to receive payments in the Relevant Currency of the Optional Redemption Amount in respect of the redemption of such ETP Securities, which account shall be:

Redemption Account means the Account within the Debt Service Fund so designated and established pursuant to Article V hereof.

Redemption Account means the account by that name established and held by the Trustee pursuant to Section 4.03(d).

Examples of Redemption Account in a sentence

• In anticipation of such redemption, the Trustee shall transfer proceeds of the 2024 Series C Bonds on deposit in the 2024 Series C Subaccount of the Loan Account and not committed to the purchase of 2024 Series C Mortgage Loans on the Transfer Date to the Redemption Account to redeem 2024 Series C Bonds on the Non-Origination Redemption Date.

• Specifically, on or before each May 25 and November 25, commencing November 25, 2024, the Trustee, upon the written direction of the Authority, will transfer an amount equal to the Tax Restricted Prepayments and Repayments required for redemption and held in the Revenue Account as of such date to the Redemption Account to effect such redemption.

• Moneys deposited in the Redemption Account pursuant to the preceding sentence shall be used by the Trustee to redeem 2024 Series C-2 PAC Bonds on the next succeeding Interest Payment Date at a Redemption Price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the Redemption Date, such that at least the 2024 Series C-2 PAC Bonds Applicable Outstanding Amount (as defined in the Supplemental Indenture) remains.

• The Trustee, upon the written direction of the Authority, shall transfer an amount equal to the Directed Principal Receipts held in the Revenue Account as of such date to the Redemption Account.

• All Collections that have been identified by an Officer’s Certificate as consisting of Lump Sum Payments or Total Lump Sum Payments received by the Trustee shall be promptly (and, in any event, no later than the Business Day immediately preceding the next following Distribution Date) transferred to the Lump Sum Redemption Account and applied as described in Section 5.02(g) or (h), as applicable, in accordance with the instructions received by the Trustee pursuant to an Officer’s Certificate.

More Definitions of Redemption Account

Redemption Account means the Redemption Account established pursuant to the General Resolution.

Redemption Account means the account(s) (which may be a current, saving or deposit account(s)) maintained by the Trustee with any bank having an investment grade rating and approved by the Management Company in which the amount required for redemption of Units to the Holders may be transferred.

Redemption Account means the account by that name established and held by the Trustee pursuant to Section 4.03(e).

Redemption Account means the Redemption Account established pursuant to the Resolution. “Redemption Date” means the date or dates upon which Bonds are to be called for redemption pursuant to

Redemption Account means the account by that name established by paragraph (5) of Section 504 of the General Resolution.

Redemption Account means the special trust account of the Debt Service Fund so designated, established pursuant to Section 5.3 hereof.

Redemption Account. An escrow account maintained by the Trustee into which any Trust funds not distributed on a Distribution Date on which a Redeeming Purchase is made are deposited. The Redemption Account shall be an Eligible Account.