Commercial Paper Account. The Company shall maintain with the Depositary a special account for the sole purpose of reimbursing LOC Payments and paying Loans (the "Commercial Paper Account"). All proceeds from the sale of Commercial Paper Notes and the proceeds of all Loans made pursuant to Article IV hereof shall be deposited in the Commercial Paper Account, the operation of which shall be governed by the Depositary Agreement. The Company may also instruct the Collateral Agent to make transfers from the Collateral Account to the Commercial Paper Account for the purpose of reimbursing LOC Payments or paying Loans. If on any Business Day deposits made to the Commercial Paper Account exceed the amount required to reimburse LOC Payments with respect to matured and concurrently maturing Commercial Paper Notes (whether or not presented for payment) and to pay principal, interest and cost reimbursement, if any, pursuant to Section 4.03(d) then due and payable (at maturity, by notice of intention to prepay or otherwise) with respect to Loans, the Bank shall instruct the Depositary to withdraw such excess amount and transfer the same to the Collateral Account.
Commercial Paper Account. Payment of Commercial Paper Notes. (a) Contemporaneously with the execution and delivery by NFC of the Depositary Agreement, and for the purposes of this Liquidity Agreement and the Depositary Agreement, NFC shall cause the Depositary to establish at its office at 120 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, x segregated trust account in its corporate trust department for the exclusive benefit of the Holders of the outstanding Commercial Paper Notes (the "Commercial Paper Accounts"), over which the Depositary shall have exclusive control and sole right of withdrawal.
Commercial Paper Account. It is further understood and agreed by ------------------------ Xxxxx, Leasco and the Secured Parties that there shall be deposited in the Commercial Paper Account the following moneys, instruments, cash and proceeds received by the Agent or Xxxxx at any time and from time to time: (i) from any Liquidity Lender pursuant to Section 3.06(a), 3.06(b)(i) or 3.06(b)(iii) of the Liquidity Agreement and (ii) any and all moneys at any time and from time to time received on behalf of Xxxxx, and required by the terms of this Agreement, the Liquidity Agreement or any other Related Document to be deposited in the Commercial Paper Account.
Commercial Paper Account. PAYMENT OF COMMERCIAL PAPER.
Commercial Paper Account. The Administrative Agent shall have received a certificate of an authorized officer of the Depositary to the effect that the Commercial Paper Account of HSFC has been established.
Commercial Paper Account. (a) Contemporaneously with the execution and delivery by the SPC of the Issuing and Paying Agreement, and for the purposes of this Backup Facility Agreement and the Issuing and Paying Agreement, the Depositary shall establish the Commercial Paper Account in accordance with Section 3(a) of the Issuing and Paying Agreement.
Commercial Paper Account. (a) (i) The Depositary, as agent for the Issuing Bank, has established at its Corporate Trust offices in New York, New York a special purpose non-interest bearing account (for the benefit of the Issuing Bank) identified as Standard Chartered Bank (TFM, S.A. de C.V. CP Program) Commercial Paper Account (the "Commercial Paper Account"), over which the Issuing Bank has exclusive control and the sole right of withdrawal. The Borrower hereby acknowledges that except for the Issuing Bank and the Depositary, as agent for the Issuing Bank and as provided in Section 2.4(c), no Person (including the Borrower) shall have any legal or beneficial interest in the Commercial Paper Account.
Commercial Paper Account. The Borrower hereby appoints the Issuing Bank the true and lawful attorney of the Borrower, with full power of substitution, for the purpose of directing the Depositary to make any such withdrawal or order any such transfer of Deposited Funds from the Commercial Paper Account pursuant to this Section 2.4 and Section 1(b) of the Depositary Agreement, which appointment is coupled with an interest and is irrevocable.
Commercial Paper Account. At the times and in the manner provided in the Series 1 Depositary Agreement, all funds in the Series 1 Commercial Paper Account shall be transferred therefrom as follows: (i) first, to the Series 1 Letter of Credit Account, in payment of all outstanding Tranche E Reimbursement Obligations and other amounts owing to the Tranche E Issuing Bank under this Article VI, and (ii) second, so long as the Tranche E Beneficiary has not received notice from the Administrative Agent or the Tranche E Issuing Bank that an Event of Default or Unmatured Event of Default has occurred and is continuing, to the Company.
Commercial Paper Account. Payment of Commercial ----------------------------------------------- Paper Notes. (a) Contemporaneously with the execution and delivery by ----------- Xxxxx of the Depositary Agreement, and for the purposes of this Agreement and the Depositary Agreement, Xxxxx shall cause the Depositary to establish at its office at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000, a segregated trust account in its corporate trust department for the exclusive benefit of the Holders (the "Commercial Paper Account"), over which the Depositary shall have exclusive control and sole right of withdrawal.
