Reserve Account definition

Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

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 Servicer shall determine the Specified Reserve Account Balance for each Payment Date.

• The Authority covenants that it will prior to or simultaneously with the issuance of the Bonds initially authorized hereunder, deposit in said Operating Reserve Account, from moneys legally available therefor other than the proceeds of the Bonds, an amount equal to one-sixth (1/6) of the amount of Operating Expenses estimated by the Airport Consultant to be provided for in the first Annual Budget of the Authority adopted after the issuance of said Bonds.

• No funds from any other source (other than Loan Proceeds, interest or earnings on the Loan Proceeds, funds transferred from the Working Capital Reserve Account pursuant to Section 3.6, funds advanced by the Manager as Excess Working Capital Advances pursuant to the LLC Operating Agreement and Section 3.7, and funds advanced by the Manager as Discretionary Funding Advances pursuant to the LLC Operating Agreement and Section 3.8) shall be commingled in the Collection Account.

• It shall be the mandatory duty of the Authority to keep all moneys on deposit to the credit of the Operating Reserve Account and the Surplus Fund invested and reinvested in any investments (and with such collateralization, if any, and maturity), as may be permitted for political subdivisions under the laws of the State of Florida.

• If the Company or the Purchase Money Notes Guarantor, as applicable, does not provide the Paying Agent with investment directions pursuant to Sections 3.1, 3.3, 3.6 or 4.1, the balance standing to the credit of the Collection Account, the Working Capital Reserve Account or the Defeasance Account, as applicable, will remain uninvested with no liability for interest thereon.

More Definitions of Reserve Account

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

Reserve Account means the account designated as such, established and maintained pursuant to Section 8.2(a)(iii) of the Indenture.

Reserve Account with account number 275176001;

Reserve Account means the account established and maintained as such pursuant to Section 4.7(a) of the Sale and Servicing Agreement.

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. The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 2017-C” with account number 1885088400.