Mandatory Prepayment Account definition

Mandatory Prepayment Account means an interest-bearing account:

Mandatory Prepayment Account means an account held with a reputable Swedish financial institution by the Issuer subject to Security in favour of the Security Agent and from which no withdrawals may be made by any members of the Group except as contemplated by these Terms and Conditions.

Mandatory Prepayment Account means the non-interest-bearing account:

Examples of Mandatory Prepayment Account in a sentence

• Evidence of the opening of the Debt Service Reserve Account and Mandatory Prepayment Account.

• A certificate from the Company to the Agent specifying the Debt Service Account, the Holding Account and the Mandatory Prepayment Account including details of each account name, account number and the name and address of the bank where each account is held.

• If any Additional Senior Notes (as defined under the ProjectCo Note Purchase Agreement) are incurred, the Borrower shall cause the Net Cash Proceeds thereof to be promptly distributed to the Borrower and deposited in the Mandatory Prepayment Account.

• The Borrower shall cause all proceeds to any Borrower Group Party from an issuance of incurrence of Indebtedness (other than Permitted Indebtedness) to be deposited in the Mandatory Prepayment Account in accordance with Section 5.18(h) and such proceeds shall be retained in the Mandatory Prepayment Account in accordance with Section 5.18(h) until such amounts are applied to make a prepayment of Loans in connection with a Debt Prepayment Offer pursuant to this clause (iii).

• Following the opening and establishment of the Mandatory Prepayment Account, the Borrower shall at all times thereafter maintain the Mandatory Prepayment Account and cause the Mandatory Prepayment Account to be subject to a Blocked Account Control Agreement.

More Definitions of Mandatory Prepayment Account

Mandatory Prepayment Account has the meaning assigned to it in the Collateral Agency Agreement.

Mandatory Prepayment Account means the deposit account to be specified by the Company pursuant to which proceeds from an Entire Sale Transaction or from an Asset Sale are to be deposited in accordance with the terms of Section 4.14(b) and Section 4.15(c) of this Indenture, respectively, which account shall be subject to a first priority Lien in favor of the Security Trustee and constitute additional Collateral for the benefit of the Holders, and which account shall not be subject to any other Lien whatsoever.

Mandatory Prepayment Account means an interest bearing account, identified as a Mandatory Prepayment Account, the details of which are notified to the Mandated Lead Arrangers in accordance with paragraph 12(1) of Part III of Schedule 2 (Conditions Precedent to Signing) held by a Borrower which is subject to Security granted pursuant to the Transaction Security Documents (as the same may be redesignated, substituted or replaced from time to time).

Mandatory Prepayment Account means the interest-bearing account in the name of the Borrower held with the Agent at 00 Xxxx Xxxxxx, Xxxxxx XX0X 0XX, Sort Code: 16-55-90 and Account number: 3210 198935 500 (as the same may be redesignated, substituted or replaced from time to time).

Mandatory Prepayment Account means a deposit account (as defined in Article 9 of the UCC) of the Borrower established and maintained at the Depositary Bank, which shall be established on or prior to the Account Establishment Date and shall at all times thereafter be subject to a Blocked Account Control Agreement.

Mandatory Prepayment Account means the interest-bearing Dollar account designated as such (as the same may be re-designated, substituted or replaced with the prior written consent of the Facility Agent from time to time):

Mandatory Prepayment Account means the “Mandatory Prepayment Account” established and created in the name of the Borrower pursuant to Section 5.01.