Examples of Manager Report in a sentence
No later than four Business Days prior to each Payment Date, the Issuer shall furnish, or cause the Manager to furnish, to the Indenture Trustee, the Servicer and KBRA at xxxxxxxxxxxxxxx@xxxx.xxx (so long as it is a Rating Agency for any Series of Notes) a Manager Report.
On each Payment Date, the Indenture Trustee shall, upon written direction from the Manager pursuant to the Manager Report, withdraw from the Available Funds on deposit in the Collection Account with respect to such Payment Date, the amount required to be deposited to the Advance Fee Reserve Account pursuant to Section 5.01(a)(i) for deposit to the Advance Fee Reserve Account (said funds, the “Advance Fee Reserve”).
To the extent that the available funds in the Collection Account are insufficient for such purpose, all funds on deposit in the International Issuer Deposit Accounts shall be required to be converted to U.S. dollars (if applicable) and deposited into the Collection Account, for further transfer to the Cash Trap Reserve Account up to the amount of such shortfall in accordance with the Manager Report.
Upon the expiration of such one-year period, the Borrower (or the Manager on its behalf) may instruct the Account Bank in writing to release the related Retained Collections Contributions from such Controlled Account and deposit such amount to the Facility Collections Account on the following Payment Date for application in accordance with the Priority of Payments on such Payment Date pursuant to the related Manager Report.
In the event that on any Payment Date, the amount on deposit in the Facility Collection Account available pursuant to Section 2.8(c) is insufficient for the payment of accrued interest payable on such Payment Date, the Account Bank pursuant to the Manager Report shall withdraw from the Interest Reserve Account an amount equal to the lesser of (x) the amount of such insufficiency and (y) the amount on deposit therein, and shall apply such funds in accordance with Section 2.8(c).