Unfunded Reserve Account definition

Unfunded Reserve Account has the meaning specified in Section 8.04.

Unfunded Reserve Account has the meaning specified in Section 8.05. “Unfunded Reserve Account Shortfall” has the meaning specified in Section 2.01.

Unfunded Reserve Account has the meaning specified in Section 3(a).

Examples of Unfunded Reserve Account in a sentence

• During the Amortization Period, Principal Proceeds received by the Borrower (or the Collateral Manager on its behalf) in respect of Revolving Collateral Assets (to the extent not accompanied by a permanent reduction in the related commitments) shall be deposited by the Borrower (or the Collateral Manager on its behalf) into the Unfunded Reserve Account to the extent the amount on deposit in the Unfunded Reserve Account is less than the Unfunded Reserve Required Amount.

• The only permitted deposits to or withdrawals from the Unfunded Reserve Account shall be in accordance with the provisions of this Agreement.

• The Collateral Agent shall from time to time deposit into the Principal Collection Account promptly upon receipt thereof all Principal Proceeds (unless simultaneously reinvested in additional Collateral Assets in accordance with Article X or required to be deposited in the Unfunded Reserve Account pursuant to Section 8.05) received by the Collateral Agent and identified as such by the Collateral Manager.

• During the Reinvestment Period, fundings of Delayed Drawdown Collateral Assets and Revolving Collateral Assets shall be made using, first, amounts on deposit in the Unfunded Reserve Account (in an amount equal to the amount on deposit therein with respect to such Delayed Drawdown Collateral Asset or Revolving Collateral Asset), then available Principal Proceeds and finally, borrowing of Advances under Section 2.01.

• On the Acquisition Date of any Delayed Drawdown Collateral Asset, Revolving Collateral Asset, and on any Payment Date, the Collateral Manager shall instruct the Collateral Agent to withdraw funds from the Collection Account for deposit into the Unfunded Reserve Account, to the extent required so that the amount of funds on deposit in the Unfunded Reserve Account is equal to the Unfunded Reserve Required Amount.

• Amounts on deposit in the Unfunded Reserve Account will be available solely to cover drawdowns on Delayed Drawdown Collateral Assets and Revolving Collateral Assets; provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Unfunded Reserve Required Amount, the Collateral Agent shall remit such excess to the Collection Account.

More Definitions of Unfunded Reserve Account

Unfunded Reserve Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of amounts required to pursuant to Section 4.07 and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.

Unfunded Reserve Account means the account maintained pursuant to Section 6.3(d). “Unfunded Reserve Account Shortfall” has the meaning specif ied in Section 6.3(d). “Unfunded Reserve Required Amount” means, with respect to each Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation included in the Collateral, the greater of : (I) the Dollar Equivalent of an amount equal to: (i) the aggregate sum of the Unfunded Exposure Amount in respect of all such Delayed Drawdown Collateral Obligations and Revolving Collateral Obligation, minus (ii) the Unfunded Exposure Amount in respect of each such Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation included in the Collateral times the Asset Current Price of such Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation (expressed as percentage of par) times the Advance Rate then in ef fect for such Delayed Drawdown Collateral Obligation or Revolving Collateral Obligation; and (II) the excess, if any, of (x) the sum of the Unfunded Exposure Amount and the Loan Amount (Revolver) over (y) the Adjusted Maximum Facility Amount (Revolver). provided that af ter the Availability Period (Revolver) or upon the occurrence of an Event of Default, the Unfunded Reserve Required Amount shall equal the Unfunded Exposure Amount. “Unrestricted Cash” means “Unrestricted Cash” or any comparable term in the Underlying Instruments for any Collateral Obligation, and in any case that “Unrestricted Cash” or such comparable term is not defined in such Underlying Instruments, all cash available for use for general corporate purposes and not held in any reserve account or legally or contractually restricted for any particular purposes or subject to any lien (other than blanket liens permitted under or granted in accordance with such Underlying Instruments), as reflected on the most recent financial statements of the related obligor that have been delivered to the Borrower. “Unsettled Purchase Asset” means, as of any date, an asset that a Borrower Entity has Committed to Acquire and in respect of which the Acquisition by such Borrower Entity has not yet settled. “Unsettled Sale Asset” means, as of any date, a Collateral Obligation that a Borrower Entity has Committed to sell and in respect of which the sale by such Borrower Entity has not yet settled.

Unfunded Reserve Account collectively, the “USD Unfunded Reserve Account”, the “CAD Unfunded Reserve Account”, the “EUR Unfunded Reserve Account” and the “GBP Unfunded Reserve Account”, each as defined in Section 8.05.