Refinancing Account definition
Examples of Refinancing Account in a sentence
Upon notice to it of an ACS Group Refinancing, the Cash Manager shall cause the Operating Bank to establish and maintain a Refinancing Account pursuant to Section 3.01(a) hereof in the name of the Security Trustee for the benefit of the Holders of the subclass of ACS Group Securities, if any, to be refinanced.
The Administrative Agent shall instruct the Trustee to transfer to the applicable Series Accounts, on the Redemption Date, amounts on deposit in the Defeasance/Redemption Account or Refinancing Account as are required to pay the applicable Redemption Price, and shall instruct the Trustee to make such other transfers and payments as are contemplated hereunder to be made on such Redemption Date.
The Cash Manager shall or shall direct, in writing, the Trustee or the Security Trustee, as the case may be, to transfer from time to time amounts on deposit in the Refinancing Account to the Note Accounts in connection with any Refinancing in accordance with Section 2.10 of the Indenture.
The Cash Manager shall establish and maintain a Refinancing Account with respect to each subclass of Notes in accordance with Section 3.01(f) of the Indenture.
The Administrative Agent shall transfer from time to time amounts on deposit in the Redemption Account or Refinancing Account, as applicable, to the Series Account in connection with either the redemption or refinancing of Notes in accordance with the relevant clauses in Sections 3.01 and 3.11 of the Indenture or the exercise of the defeasance provisions set forth in Article XI of the Indenture.
Provided such Refinancing Account Payment Notice and Disbursement Request is not rejected by it, the Escrow Agent, within two (2) Business Days following receipt of such Refinancing Account Payment Notice and Disbursement Request, shall disburse the funds requested in such Refinancing Account Payment Notice and Disbursement Request by wire or book-entry transfer of immediately available funds to the account of the lender of the Other Existing Indebtedness as designated by the Company.
Concurrently with the execution and delivery of this Agreement, the Company shall deliver the Initial Refinancing Amount to the Escrow Agent for deposit into the Refinancing Account against the Escrow Agent's written acknowledgment and receipt of the Initial Refinancing Account Escrow Amount.
In the event such rejection is based upon nonsatisfaction of the condition in Section 3(B)(b)(A) below, the Company shall thereupon resubmit the Refinancing Account Payment Notice and Disbursement Request with appropriate changes.
Concurrently with the ------------------------------------ execution and delivery of this Agreement, the Escrow Agent shall establish the Refinancing Account at its office located at ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇.▇.
The Company shall, five (5) Business Days prior to the payment ------------- of any portion of Other Existing Indebtedness, submit to the Escrow Agent a completed Refinancing Account Payment Notice and Disbursement Request substantially in the form of Exhibit B hereto.