Reserve Account definition

Reserve Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(iii).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Reserve Account means the account designated as such, established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

Reserve Account shall have the meaning specified in subsection 4.12(a).

Examples of Reserve Account in a sentence

• The Trustee will record such sum, and any income earned thereon, as an asset of the Reserve Account.

• On or before the Business Day prior to each Payment Date, all amounts required to be withdrawn from the Reserve Account and deposited in the Collection Account pursuant to Section 5.05 of the Sale and Servicing Agreement shall be withdrawn by the Indenture Trustee from the Reserve Account and deposited to the Collection Account as provided therein, as to which Issuer shall cause Servicer to timely provide the related instructions.

• The Notes shall be deemed to be due and payable on the date of the Optional Purchase for a purchase price equal to the Redemption Price (including any amounts transferred from the Reserve Account to the Collection Account pursuant to Section 5.06(e) of the Sale and Servicing Agreement upon the exercise of the Optional Purchase); provided, that the Issuer has available funds sufficient to pay the Redemption Price.

• The Servicer also will be entitled to receive Investment Earnings on amounts on deposit in the Collection Account and the Reserve Account during each Collection Period.

• All payments of amounts due and payable with respect to any Notes that are to be made from amounts withdrawn from the Trust Accounts shall be made on behalf of the Issuer by the Indenture Trustee or by another Paying Agent, and no amounts so withdrawn from the Collection Account or the Reserve Account for payments of Notes shall be paid over to the Issuer except as provided in this Section.

More Definitions of Reserve Account

Reserve Account. Any of the accounts established and maintained pursuant to Section 3.03(d).

Reserve Account with account number 275176001;

Reserve Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 8.2.

Reserve Account is defined in Section 4.10(a).

Reserve Account means the account designated as such, established and maintained pursuant to Section 2.3(g) of the Administration Agreement.

Reserve Account means the account designated as such, established and maintained pursuant to Section 2.3(a) of the Administration Agreement.

Reserve Account means the Reserve Account maintained by the Paying Agent in accordance with the provisions of Section 5.3, which shall be an Eligible Account.