Reserve Account Deposits. (a) At any time in Bank’s sole and absolute discretion, Bank may (i) designate the minimum balance required to be deposited in the Reserve Account, (ii) require that the amount on deposit in the Reserve Account be increased, (iii) require that Merchant deposit, or Merchant Bank may deposit for Merchant into the Reserve Account a percentage of, or a fixed amount from each Transaction processed, or (iv) otherwise determine the amount to be deposited in the Reserve Account. Bank at its sole and absolute discretion may require that each month Merchant deposit, or Merchant Bank may deposit by deducting from any provisional credit or payment due to Merchant or from any funds in the Settlement Account or any other deposit account of Merchant sums into the Reserve Account no later than the twentieth day of the month. Bank shall notify Merchant as to the amount of the funds to be deposited each month.
Reserve Account Deposits. At any time in Provider’s sole and absolute discretion, Provider may (i) designate the minimum balance required to be deposited in the Reserve Account, (ii) require that the amount on deposit in the Reserve Account be increased, (iii) require that the Merchant deposit, or Merchant Bank may deposit for Merchant into the Reserve Account a percentage of, or a fixed amount from each Transaction processed, or (iv) otherwise determine the amount to be deposited in the Reserve Account. Provider at its sole and absolute discretion may require that each month Merchant deposit, or Merchant Bank may deposit by deducting from any payment due to Merchant or from any funds in the Settlement Account or any other deposit account of Merchant sums into the Reserve Account no later than the twentieth (20th) day of the month. Provider shall notify the Merchant as to the amount of the funds to be deposited each month. Merchant acknowledges and agrees that the Reserve Account may contain both funds deposited by the Merchant and funds of other merchants of Provider.
Reserve Account Deposits. A. At any time in Bank’s sole and absolute discretion, Bank may (i) designate the minimum balance required to be deposited in the Reserve Account, (ii) require that the amount on deposit in the Reserve Account be increased, (iii) require that the Merchant deposit, or Bank may deposit for Merchant into the Reserve Account a percentage of, or a fixed amount from each Charge processed, or (iv) otherwise determine the amount to be deposited in the Reserve Account. Bank at its sole and absolute discretion may require that each month Merchant deposit, or Bank may deposit by deducting from any payment due to Merchant or from any funds in the Settlement Account or any other deposit account of Merchant sums into the Reserve Account no later than the twenty (20) day of the month. Bank shall notify the Merchant as to the amount of the funds to be deposited each month.
Reserve Account Deposits. In the event that the Trustee shall notify the Agency pursuant to Section 4.02(b)(iii) of the Indenture that the amount on deposit in the Reserve Account is less than the Reserve Requirement, or in the event that any Qualified Reserve Fund Credit Instrument shall expire and not be replaced in accordance with Section 4.02(b)(iii) of the Indenture, the Agency shall immediately withdraw from the Special Fund and transfer to the Trustee for deposit in the Reserve Account an amount of money necessary to maintain the Reserve Requirement in the Reserve Account. No such transfer and deposit need be made to the Reserve Account so long as there shall be on deposit therein a sum at least equal to the Reserve Requirement.
Reserve Account Deposits. Section 1.02(d) of the Applicable Obligor Covenants Schedule to the Credit Agreement is hereby amended by inserting the following sentence at the end of such Section: Borrower shall deposit the following additional amounts into the Reserve Account on or prior to the corresponding deposit dates set forth in the table below: Additional Deposit Amount Deposit Date $2,000,000 March 31, 2023 $500,000 April 30, 2023 $500,000 May 31, 2023
Reserve Account Deposits. On each June 1 and January 1, the City shall, from Net Revenues, transfer to the 2008 Trustee (on a parity with the transfers of Net Revenues for the replenishment of all other reserve accounts for all Parity Obligations) for deposit in the Reserve Account a sum equal to one-half (½) of the amount determined by the 2008 Trustee to be necessary to restore the Reserve Account to the Reserve Requirement by the next succeeding June 1 or January 1 that is six (6) months after the first such deposit, as the case may be, except that if the deficiency in the Reserve Account was occasioned by a reduction in the market valuation thereof (rather than a transfer therefrom), such deposit shall be equal to the total amount determined by the 2008 Trustee to be necessary prior to such transfer to restore the Reserve Account to the Reserve Requirement; and
Reserve Account Deposits. On each date required by the Indenture, after making the transfers and deposits required by paragraph (1) for Installment Payments and payments on Parity Obligations currently due and payable, the City shall, from Net System Revenues, transfer to the Trustee (on a parity with any required transfers of Net System Revenues for the replenishment of all other reserve accounts for all Parity Obligations) for deposit in the Reserve Fund, a sum equal to the amount, if any, required by the terms of the Indenture, to be deposited in the Reserve Fund to the Reserve Requirement on such date; and
