Expense Reserve Account definition

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

Expense Reserve Account means the account of the Issuer established with National Westminster Bank plc for payment of expenses incurred by the Issuer in connection with, inter alia, the issue of the Bonds;

Expense Reserve Account means the ledger maintained by the Account Bank on behalf of the Issuers, identification number LUN1 (in the case of Lunar Funding I Limited), LUN3 (in the case of Lunar Funding III Limited), LUN4 (in the case of Lunar Funding IV Limited) and LUN5 (in the case of Lunar Funding V PLC), or such other identification number as is ascribed in the case of any Additional Issuer, which records amounts standing to the credit of the account of each of the Issuers with the Account Bank out of which Administrative Expenses will be payable from time to time.

Examples of Expense Reserve Account in a sentence

• The Expense Reserve will be deposited into the Expense Reserve Account.

• Pursuant to Article 12 of the Plan, the Plan Agent has established various reserve accounts, including the Disputed Claim Reserve Account and the Administrative Expense Reserve Account.

• By the Determination Date relating to the third Payment Date following the Closing Date, all funds in the Expense Reserve Account (after deducting any expenses paid on such Determination Date) shall be deposited in the Collection Account as Interest Proceeds and/or Principal Proceeds (in the respective amounts directed by the Portfolio Manager in its sole discretion).

• The Custodian shall treat all property from time to time credited to a Collateral Account as financial assets under Article 8 of the Uniform Commercial Code, as in effect from time to time in the State of New York (the “UCC”), other than cash, if any, remaining uninvested, which cash shall be credited to an associated deposit account, which shall be considered part of the Clearing Account, Principal Proceeds Account, Interest Proceeds Account or Expense Reserve Account, as the case may be.

• The Trustee shall, on or prior to the Closing Date, establish a segregated non-interest bearing trust account in the name of the Trustee for the benefit of the Secured Parties, which shall be designated as the Expense Reserve Account, and which shall be maintained with the Custodian in accordance with the Account Agreement.

More Definitions of Expense Reserve Account

Expense Reserve Account has the meaning set forth in Section 8.01(a).

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

Expense Reserve Account means the interest bearing account of the Issuer so entitled and held with the Account Bank.

Expense Reserve Account. An Eligible Account established in accordance with Section 8.05(d).

Expense Reserve Account means the account established pursuant to Section 10.1(b) and described in Section 10.3(e).

Expense Reserve Account means the interest-bearing account of that name held in the name of the Issuer with the Account Bank into which amounts are paid in accordance with Condition 3(c)(i) (Application of Interest Proceeds) and out of which certain Trustee Fees and Expenses and Administrative Expenses may be paid during a Due Period.

Expense Reserve Account means an interest bearing account in the name of the Issuer so entitled and held by the Account Bank.