Senior Reserve Fund definition

Senior Reserve Fund means the fund by that name established and maintained pursuant to Section 6 of this Agreement, which secures the Loan 2016 Senior Loan and the 2016 Senior Swap Agreement.
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Senior Reserve Fund means the Senior Lien Revenue Bond Debt Service Reserve
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Senior Reserve Fund means the “Reserve Fund” created and established pursuant to the Senior Trust Indenture.
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Examples of Senior Reserve Fund in a sentence

  • Pursuant to the Indenture, the stated maturity date of any Bonds, and Reimbursement Obligations secured hereunder shall not be deemed to have occurred until the date on which such Bond has been paid in full and no Reimbursement Obligations with respect to such Bond remains outstanding or unpaid hereunder or under any or all of the Series 2017 Bond Insurance Policy, the Series 2017 Senior Reserve Fund Surety, or the Series 2017 Liquidity Reserve Policy.

  • The Senior Reserve Fund hereunder shall terminate only when all Senior Payment Obligations with respect to the 2016 Senior Loan and the 2016 Senior Swap Agreement have been paid in full.

  • The Senior Reserve Fund shall constitute a fund for the benefit of the Senior Lender and the 2016 Senior Swap Counterparty.

  • The Senior Reserve Fund shall be maintained in an amount equal to the Senior Reserve Fund Requirement and shall be replenished from Senior Pledged Revenue as needed and to the extent Senior Pledged Revenue is available for such purpose in accordance with Section 2, SECOND, hereof.

  • Such investments shall mature or be redeemable no later than the dates when moneys held for the credit of the Senior Pledged Revenue Fund, the Senior Payment Fund, the Senior Reserve Fund and the Cost of Issuance Fund will be required for the purposes set forth herein.

  • The Custodian shall maintain the Senior Reserve Fund for so long as the 2016 Senior Loan or the 2016 Senior Swap Agreement remains Outstanding.

  • Notwithstanding anything in this Loan Agreement or the Bond Indenture to the contrary, no provision of this Loan Agreement may be amended or modified in any manner without the Bond Insurer’s prior written consent so long as any Reimbursement Obligations are due to the Bond Insurer, or either the Series 2017 Bond Insurance Policy, the Series 2017 Senior Reserve Fund Surety, or the Series 2017 Liquidity Reserve Policy is in full force and effect and the Bond Insurer is not in default thereunder.

  • All moneys held by the Custodian in the Senior Pledged Revenue Fund, the Senior Payment Fund, the Senior Reserve Fund and the Cost of Issuance Fund shall be promptly invested or reinvested by the Custodian, at the written direction of the Authority, in Permitted Investments only.

  • To the extent the Senior Reserve Fund balance is less than the Senior Reserve Fund Requirement, the Authority shall deposit all Senior Pledged Revenue available after payments described in Section 2, FIRST, hereof in the Senior Reserve Fund until the Senior Reserve Fund Requirement is met, subject to the limitation of the Annual Senior Payment Cap.

  • The Custodian shall credit funds into the Senior Payment Fund from the Senior Pledged Revenue Fund, in an amount which, when combined with other legally available moneys in the Senior Payment Fund (not including moneys available in the Senior Reserve Fund), will be sufficient to pay Senior Payment Obligations which have become due or are estimated to become due as provided in Section 2.02(j) of the Loan Agreement in the year in which the credit is made.


More Definitions of Senior Reserve Fund

Senior Reserve Fund means the Senior Lien Revenue Bond Debt Service Reserve Fund established in Section 6.01(c) below, consisting of the Common Senior Reserve Account and any Separate Series Reserve Account that may be established therein in connection with the issuance of Senior Lien Parity Bonds.
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Senior Reserve Fund means the “Senior Reserve Fund - Louisville Arena Project” established by the Authority with the Bond Trustee pursuant to Section 4.08 of the Bond Indenture for the benefit of the Senior Bonds.
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Senior Reserve Fund or “Reserve Fund” means the Reserve Fund established by the provisions of the Custodial Agreement to be held and administered by the Custodian pursuant to the provisions of the Custodial Agreement for the purposes set forth in Section 3.05 hereof.
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Related to Senior Reserve Fund

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

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

  • 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.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • 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 [*];

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

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

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • 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.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • 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.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • 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.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

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

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).