Unfunded Exposure Account definition

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

Unfunded Exposure Account means a special trust account (account number 787456-702 at the Bank) in the name of the Borrower subject to the Lien of the Trustee for the benefit of the Secured Parties; provided that the funds deposited therein (including any interest and earnings thereon) from time to time shall constitute the property and assets of the Borrower and the Borrower shall be solely liable for any Taxes payable with respect to the Unfunded Exposure Account.

Unfunded Exposure Account means the account established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of funds used to cash collateralize the Unfunded Exposure Amount and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.

Examples of Unfunded Exposure Account in a sentence

• To the extent any Collections are received directly by the Seller, the Seller shall transfer, or cause to be transferred, all Collections to the Collection Account or Unfunded Exposure Account, as applicable, by the close of business on the second Business Day following the date such Collections are received.

• Following receipt of such Advance -52- USActive 58353885.2 Request, the Lenders shall fund such requested amount by transferring such amount directly to the Collateral Agent to be deposited into the Unfunded Exposure Account, notwithstanding anything to the contrary herein (including, without limitation, the Borrower’s failure to satisfy any of the conditions precedent set forth in Section 6.2).

• To the extent that any Collections are received directly by any Loan Party, the Equityholder, the Servicer or any of their respective Affiliates, such Person shall transfer, or cause to be transferred, all Collections to the Borrower Collection Account or the Unfunded Exposure Account, as applicable, by the close of business on the second Business Day following the date such Collections are received by such Loan Party, the Equityholder, the Servicer or any of their respective Affiliates.

• Notwithstanding anything to the contrary herein, upon the occurrence of the earlier of (i) any acceleration of the maturity of Advances pursuant to Section 13.2 and (ii) the end of the Revolving Period, the Borrower shall request an Advance in the amount of the Aggregate Unfunded Amount minus the amount already on deposit in the Unfunded Exposure Account.

More Definitions of Unfunded Exposure Account

Unfunded Exposure Account means the account designated as the Unfunded Exposure Account in, and which is established and maintained pursuant to, Section 8.1(a).

Unfunded Exposure Account has the meaning set forth in Section 8.01(a).

Unfunded Exposure Account means a segregated, non-interest bearing securities account number 172148-700, which is created and maintained on the books and records of the Securities Intermediary entitled “Unfunded Exposure Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties, which is established and maintained pursuant to Section 8.1(a).

Unfunded Exposure Account means a segregated, non-interest bearing securities account number 00000000, which is created and maintained on the books and records of the Securities Intermediary entitled “Unfunded Exposure Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties, which is established and maintained pursuant to Section 8.1(a).

Unfunded Exposure Account means the account(s) designated as an “Unfunded Exposure Account” on the Transaction Schedule.

Unfunded Exposure Account. Defined in Section 6.4(k).

Unfunded Exposure Account means the securities account in the name of the Borrower (subject to the lien and control of the Collateral Agent, for the benefit of the Secured Parties) and titled “Unfunded Exposure Account”, into which Principal Collections shall be segregated; provided that the funds deposited therein (including any interest and earnings thereon) from time to time shall constitute the property and assets of the Borrower and the Borrower shall be solely liable for any Taxes payable with respect to the Unfunded Exposure Account.