Temporary Asset Account definition

Temporary Asset Account or “TAA” shall mean the temporary account controlled at all times by GM that is established by GM or a wholly owned subsidiary of GM under Section 7.A of this Settlement Agreement for the purpose of holding certain GM payments as described in this Settlement Agreement.
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Temporary Asset Account or “TAA” shall mean the temporary account controlled at all times by Ford that is established by Ford or a wholly-owned Subsidiary of Ford under Section 7.A of this Settlement Agreement for the purpose of holding certain assets as described in this Settlement Agreement. 8 Term Note. The term “Term Note” shall mean the $3.0 billion aggregate principal amount of 9.50% Second Lien Term Notes Due January 1, 2018 issued pursuant to the Note Purchase Agreement, dated April 7, 2008, by and among Ford and the LLC, substantially in the form attached as Exhibit C to this Settlement Agreement. Trust Agreement. The term “Trust Agreement” shall mean the New VEBA trust agreement the form of which is set forth in Exhibit A to this Settlement Agreement. UAW Releasees. The term “UAW Releasees” shall mean the UAW, the Class Representatives, the Class, Class Counsel, the Covered Group and anyone claiming on behalf of, through or under them by way of subrogation or otherwise.
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Examples of Temporary Asset Account in a sentence

  • As a result, the Company has agreed to pre-fund into the TAA the future impact of this wage increase on the basis set forth in paragraph 6 – Temporary Asset Account.

  • As a result, the Company agreed to pre-fund into the TAA these future COLA adjustments on the basis set forth in paragraph 6 – Temporary Asset Account, provided however if the Implementation Date does not occur, the cumulative effect of the four cents ($.04) per hour per quarter of COLA referred to in this subsection c.

  • On January 1, 2008, or as soon as reasonably practicable thereafter, the Company shall establish a Temporary Asset Account (“TAA”) to be held by the Company or a wholly owned subsidiary thereof.

  • On January 1, 2008, or as soon as reasonably practicable thereafter, the Company shall establish a Temporary Asset Account (“TAA”) to be held by the Company or a wholly owned subsidiary thereof, and shall deposit to the TAA a contingent cash payment in an amount equal to the difference between $18.5 billion and the value of the UAW Related Account on January 1, 2008, plus interest on the amount of the contingent cash payment at 9% for the period from January 1, 2008 to the date of deposit.

  • The term “TAA Note” shall mean a promissory note of Ford dated January 5, 2009 in an aggregate principal amount of $2,281,908,687, which is equal to the market value of the assets in the Temporary Asset Account held by the LLC on December 31, 2008.

  • As a result of the Company agreeing to pre-fund into the TAA the future wage deferral cash flow impact of $3.8 billion from the Henry Case on the basis set forth in paragraph 6 — Temporary Asset Account, the Approval Order shall provide that the Company will no longer be required to make deposits of the wage deferral from the Henry Case and such wage deferral will continue into perpetuity increasing at $0.02 per hour per quarter as described in the settlement agreement in the Henry Case.

Related to Temporary Asset Account

  • Retained asset account means any mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits.

  • Asset Allocation The following single issuer limits shall apply on a market value basis, with exception of Money-Market funds and US Government guaranteed securities, which may be held without limit:

  • Asset Pool means a pool of cash-flow generating assets in which an issuer of a securitized product has a direct or indirect ownership or security interest;

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Reinvestment Deferred Amount means, with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection therewith that are not applied to prepay the Loans pursuant to Section 2.09(b) as a result of the delivery of a Reinvestment Notice.

  • Net Interest Bearing Debt means the aggregate interest bearing debt less cash and cash equivalents of the Group in accordance with the applicable accounting principles of the Group from time to time (for the avoidance of doubt, excluding guarantees, bank guarantees, Subordinated Loans, any claims subordinated pursuant to a subordination agreement in form and substance satisfactory to the Agent and interest bearing debt borrowed from any Group Company).

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

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

  • Prior Period Investments means investments made in a previous evaluation period that are outstanding as of the examination date.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Adjusted Property means any property the Carrying Value of which has been adjusted pursuant to Section 5.5(d).

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Expense Account The account established pursuant to Section 10.3(c).

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

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of:

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.