Examples of Reserve Release Date in a sentence
Prior to the Loan Agreement Termination Date, Borrower shall have no right to terminate the Interest Reserve Account without Lender’s prior written consent unless the Interest Reserve Release Date has occurred.
On the Interest Reserve Release Date, Lender shall instruct the Account Bank to release all amounts in the Interest Reserve Account at Borrower’s direction.
Such amounts shall be applied in accordance with the Pre-Enforcement Payments Priorities as Available Principal Funds to the extent necessary to redeem the Notes in full, and any excess shall be applied as Available Revenue Funds.The occurrence of the Portfolio Purchase, the Issuer Call Option or the Reserve Release Date will lead to a reduction in the average weighted life of the Notes.
On the Reserve Release Date, the Companies shall be entitled to release from such segregated account or reserve the Reserve Amount less the Buyer Adjustment Amount, if any, which is to be paid by the Companies in accordance with Section 3.2(c)(ii).
The aggregate amount of Secondary Facility Loans to be made on such Secondary Facility Funding Date or the amount of the Reserve Release to be consummated on such Reserve Release Date, as applicable, shall not be less than $5,000,000.
Such Secondary Facility Funding Date or such Reserve Release Date, as applicable, shall occur during the Secondary Facility Availability Period.
In the case of a Reserve Release Date, immediately after giving effect to the consummation of the Reserve Release on such Reserve Release, the Aggregate Secondary Facility Usage Amount would not exceed the Aggregate Secondary Facility Commitment Amount.
From and after the Second Funding Date, the Cash Reserve shall remain held in the Borrower Funding Account and shall not be released or distributed from the Borrower Funding Account for any purpose; provided, that, upon the occurrence of the Cash Reserve Release Date, the Administrative Agent shall instruct the Depositary Bank to release the Cash Reserve from the Borrower Funding Account and transfer such funds to a Business Unit Account specified by the Borrower.
The reserves and statutory release dates are as follows: Year Reserve Release Date 1998 $ 4,000 January 1, 2001 1999 $26,000 January 1, 2002 2000 $54,000 January 1, 2003 It is also agreed that if there is sufficient documentation and/or proof of valid subcontractor status (to be determined by CITI and their accountants), the reserve for those particular individuals will be released prior to noted release date.
In absence of this quorum, the general meeting could be deferred to a postponed date of two months maximum to the date on which it has been noticed.