Senior Deposit definition

Senior Deposit means the deposits effected by the Depositor with the Purchaser in accordance with the terms of the Master Senior Deposit Agreement as amended on 23 May, 2005.
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Senior Deposit means an amount equal to the result of the following formula (as calculated on the applicable Calculation Date):
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Examples of Senior Deposit in a sentence

  • During the Amortisation Period until the Program Expiry Date, the amount of the Subordinated Deposit shall be equal to the amount of the Subordinated Deposit as at the last Settlement Date, and shall be repaid, after full repayment of the Senior Deposit, in accordance with the provisions of Article 7.

  • Each Borrower Party shall not, and shall not permit Borrower GP to, fail to remit amounts to the Senior Deposit Account as required by Senior Cash Management Agreement and the Mezzanine Cash Management Agreement, or misappropriate any security deposit or portion thereof.

  • Pledgor shall cause Company to, and Company shall, pay any and all cash available of Company (except for cash necessary to pay the preferred dividend on the Accommodation Shares) as a dividend directly to Pledgor subject to the terms of the Senior Deposit Account Agreement.

  • Pledgor and Company shall cause Payor to, and Payor shall, pay any and all cash available of Payor (except for cash necessary to pay the preferred dividend on the Accommodation Shares) as a dividend directly to Company subject to the terms of the Senior Deposit Account Agreement.

  • Borrower has previously established such reserve accounts and has deposited and continues to deposit such amounts into such accounts as required pursuant to the terms of the Senior Deposit Account Agreement and the other Senior Loan Documents.

  • Each Borrower shall cause each Owner to cause all Gross Revenue, if any, remaining in the Senior Deposit Account, after application of all payments required under SECTION 6.10.1(a) of the Senior Loan Agreement, to be deposited by Agent into the Subordinate Deposit Account and applied and disbursed in accordance with this Agreement and the Subordinate Cash Management Agreement.

  • Borrower cause all Rents to be deposited into the Senior Deposit Account by the end of the first Business Day following Borrower’s or the Approved Property Manager’s receipt thereof in accordance with the terms of the Senior Cash Management Agreement.

  • Borrower shall cause all Rents to be deposited into the Senior Deposit Account by the end of the first Business Day following Borrower’s or the Approved Property Manager’s receipt thereof in accordance with the terms of the Senior Cash Management Agreement.

  • Pledgor shall cause Company to, and Company shall, pay any and all cash available of Company as a distribution directly to Pledgor subject to the terms of the Senior Deposit Account Agreement.

  • Each Borrower represents, warrants and covenants that, other than the Senior Deposit Accounts, the Clearing Accounts and the Accounts created pursuant to this Agreement, there are no other accounts maintained by Borrowers, Owners, Manager or any other Person into which revenues from the ownership and operation of the Properties are deposited.

Related to Senior Deposit

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Initial Reserve Account Deposit means $3,000,000.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • Class Y Principal Reduction Amounts For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1 and Class Y-2 Regular Interests, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix 1.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Initial Deposit Amount means the Issuing Entity’s deposit to the Reserve Account, on or before the Closing Date, of $[•].

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.