Hedge Reserve Account definition

Hedge Reserve Account has the meaning given to such term in Section 2.16(k).
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Hedge Reserve Account means the account established and maintained by the Indenture Trustee pursuant to Section 3.02(e) of the Indenture and Servicing Agreement.
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Hedge Reserve Account means a segregated account established by the initial Servicer, on behalf of the Borrower, with the Account Bank in the name of the Administrative Agent for the benefit of the Secured Parties, into which amounts may be deposited by the Borrower in accordance with Section 6.03(a) and which, at all times from and after the time of its establishment, will be subject to the Control Agreement" "'Hedge Reserve Account Required Amount' means, as of any date of determination on which the aggregate notional amount of all outstanding Hedge Transactions is less than the Loans Outstanding (after giving effect to any changes to the Loans Outstanding on such date), an amount equal to the product of (i) 110% times (ii) the quoted purchase price from any Lender, any Agent, or any Affiliate of any Lender or Agent (which price shall be reasonably determined based on prevailing market conditions and such Lender or Agent's pricing of caps of a similar size, duration and cap rate) most recently received by the Borrower (or the Servicer on behalf of the Borrower) pursuant to Section 6.03(a)(ii) hereof (which quote shall, for purpose of this definition, continue in effect until the next succeeding date on which such a quote is received pursuant to Section 6.03(a)(ii) hereof), for an interest rate cap (A) that has a notional amount, duration, and amortization that is agreed upon by the Borrower and the Administrative Agent for such date and (B) the cap rate for which is the maximum cap rate that would cause the Excess Spread to equal the 'Average Target Rate' if a Hedge Transaction in the form of an interest rate cap having such strike rate and having the notional amount referenced in clause (A) was included in the calculation of 'Weighted Average Hedge Rate' on such date. For purposes of this definition, the 'Average Target Rate' as of any date of determination is the weighted average Target Rate of all Eligible Receivables (weighted by the Principal Balance of such Eligible Receivables)." "'Mandatory Hedging Condition' means that, as of any date of determination, one or more of the following events has occurred and the occurrence of a Mandatory Hedging Condition has not been expressly waived in accordance with Section 13.01 (regardless of whether any such event, or any other consequences of such event, have been waived, either in accordance with Section 13.01 or otherwise): (i) any Event of Default has occurred; (ii) any Servicer Termination Event has occurred; and (iii) the Co...
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Examples of Hedge Reserve Account in a sentence

  • Whenever used herein, unless the context otherwise requires, the following words and phrases shall have the following meanings: "Account Bank" has the meaning given to such term in the Preamble.means, as of any date of determination, the Qualified Institution then holding the Collection Account and the 149194398v7 Hedge Reserve Account.

  • Notwithstanding such intention, if the Collection Account and/or the Hedge Reserve Account constitutes a "deposit account" (as defined in Section 9-102(a)(29) of the UCC), the provisions of this Agreement governing a "deposit account" shall apply to the Collection Account and/or the Hedge Reserve Account, as applicable.

  • Absent the written instruction of the Borrower or the Administrative Agent, the Account Bank shall invest funds on deposit in the Collection Account and the Hedge Reserve Account in Permitted Investments described in clause (v) of the definition thereof.

  • Without the prior written Consent of the Administrative Agent, the Servicer shall not move the Lockboxes, the Lockbox Account, the Collection Account, or the Hedge Reserve Account to an institution other than the one at which it is held as of the Closing Date.

  • On or before the Closing Date, the Servicer shall cause the Collection Account and the Hedge Reserve Account to be established with the Account Bank.

  • The Servicer shall not create or participate in the creation of, or solely in the case of the initial Servicer, permit to exist, any Liens (other than Permitted Liens) with respect to the Lockboxes, the Lockbox Account, the Collection Account, or the Hedge Reserve Account.

  • Furthermore, any amounts remaining on deposit in the Hedge Reserve Account (i) while a Mandatory Hedging Condition exists and (ii) at any time that the Borrower is Fully 61 149194398v7 Hedged, may be withdrawn from the Hedge Reserve Account by the initial Servicer and paid to, or as directed by, the Borrower.

  • The Servicer shall not enter into any "control agreement" (as defined in the relevant UCC) with respect to the Lockboxes, the Lockbox Account, the Collection Account, or the Hedge Reserve Account (other than the Control Agreement, with respect to the Collection Account and the Hedge Reserve Account).

  • Each of the Collection Account and the Hedge Reserve Account shall at all times be subject to the Control Agreement.

  • The Servicer has neither pledged nor entered into a control agreement (other than the Control Agreement) with respect to the Collection Account or amounts on deposit therein or the Hedge Reserve Account or amounts on deposit therein.


More Definitions of Hedge Reserve Account

Hedge Reserve Account means the interest bearing account, segregated into a Euro and a Sterling ledger, in the name of the Issuer held with the Account Bank as more particularly described in Condition 3(i)(xv) (The Hedge Reserve Account).
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Hedge Reserve Account means the account established and maintained pursuant to subsection 4.22(a).
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Hedge Reserve Account means the account established and maintained by the Indenture Trustee pursuant to Section 3.3 of the Indenture.”
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Hedge Reserve Account has the meaning given to such term in Section 6.03(c) of this Agreement.
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Hedge Reserve Account means the account described as such in the name of the Issuer held with the Account Bank.
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Hedge Reserve Account means a segregated trust account maintained by the Trustee at the Trustee in the name of the Trustee, for the benefit of Party A as counterparty under each of the Interest Rate Hedge Agreements.
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Related to Hedge Reserve Account

  • Interest Reserve Account As defined in Section 3.4(d).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

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

  • Available Reserve Account Amount means, for any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.4(a)(ix) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% 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.

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.