Examples of Reserve Initial Deposit in a sentence
On the Closing Date, the Depositor shall convey to the Trust the Trust Property and the Reserve Initial Deposit and the Owner Trustee shall cause the delivery to or upon the order of the Depositor the Notes and the Certificates.
On the Closing Date, the Depositor shall deposit the Reserve Initial Deposit into the Reserve Account.
On the Closing Date, the Seller shall deposit the Reserve Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes and the Certificates.
In consideration of the Issuer's delivery to, or upon the order of, the Depositor of the Notes and the Certificates, the Depositor does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer (i) without recourse (subject to the obligations herein) all right, title and interest of the Depositor, whether now owned or hereafter acquired, in and to the Trust Property and (ii) funds in the amount of the Reserve Initial Deposit.
The initial balance of the Capital Account for (i) each Certificateholder shall be the amount initially paid for such Certificateholder's Certificates and (ii) the Depositor shall be (x) the fair market value of the Receivables minus (y) the proceeds of the sale of Notes net of the Reserve Initial Deposit.