Cash Collateral Subaccount. If a Cash Management Period shall have commenced, then on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all Available Cash shall be paid to Lender, which amounts shall be transferred by Lender into a Subaccount (the "Cash Collateral Subaccount") as cash collateral for the Debt. Any funds in the Cash Collateral Account and not previously disbursed or applied shall be disbursed to Borrower upon the termination of such Cash Management Period. Lender shall have the right, but not the obligation, at any time during the continuance of an Event of Default, in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together which the applicable Yield Maintenance Premium applicable thereto). Additionally, Lender shall have the right, but not the obligation, at any time subsequent to the second Calculation Date following the commencement of a DSCR Cash Management Period (whether or not an Event of Default is then continuing), in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount towards a partial Defeasance of the Loan (together with any Defeasance costs associated therewith), and Borrower shall execute such documents and take such other actions necessary to satisfy the Defeasance requirements set forth in Section 2.3.3 hereof (to the extent applicable to a partial involuntary Defeasance).
Cash Collateral Subaccount. If a Cash Sweep Period shall be continuing, all Available Cash (after payment of the Monthly Budgeted Amount and any Approved Extraordinary Expenses in accordance with Section 2.6.3) shall be paid to Lender, which amounts shall be transferred by Lender into a Subaccount (the “Cash Collateral Subaccount”) to be held by Lender as cash collateral for the Debt. Amounts on deposit from time to time in the Cash Collateral Subaccount pursuant to this Section 6.6.1 are referred to as the “Cash Collateral Funds”. Lender shall have the right, but not the obligation, at any time during the continuance of an Event of Default, in its sole and absolute discretion to apply any and all Cash Collateral Funds then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of principal (together with the applicable Spread Maintenance Premium, Interest Shortfall and Breakage Costs, if any, applicable thereto) or any other amounts due hereunder.
Cash Collateral Subaccount. Subject to Section 3.11, if a Cash Management Period shall have commenced (other than a Cash Management Period triggered solely as a result of a Lease Sweep Period), then on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all Available Cash shall be paid to Lender, which amounts shall be transferred by Lender into a Subaccount (the “Cash Collateral Subaccount”) as cash collateral for the Debt. Notwithstanding the foregoing, if a Lease Sweep Period has occurred and is then continuing during the continuance of any Cash Management Period (other than a Cash Management Period triggered solely as a result of a Lease Sweep Period), Lender shall have the right (but not the obligation) to allocate any funds in the Cash Collateral Subaccount to the Special Rollover Reserve Subaccount to be held and disbursed in accordance with the terms and conditions of Section 3.4 hereof. Any funds in the Cash Collateral Subaccount and not previously disbursed or applied shall be disbursed to Borrowers upon the termination of such Cash Management Period. Lender shall have the right, but not the obligation, at any time during the continuance of an Event of Default, in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together with the applicable Yield Maintenance Premium applicable thereto). Lender shall have the right, but not the obligation, at any time whether or not an Event of Default has occurred and is continuing, in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together with the applicable Yield Maintenance Premium applicable thereto).
Cash Collateral Subaccount. If a Cash Management Period shall have commenced, then on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all Available Cash shall be paid to Lender as provided under Section 3.11(a) below, which amounts shall be transferred by Lender into a Subaccount (the “Cash Collateral Subaccount”) as cash collateral for the Debt. Any funds in the Cash Collateral Account and not previously disbursed or applied shall be disbursed to Borrower upon the termination of such Cash Management Period. Lender shall have the right, but not the obligation, at any time an Event of Default has occurred and is continuing, in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together which the applicable Yield Maintenance Premium applicable thereto).
Cash Collateral Subaccount. 47 Section 5.14. Russian Bank Accounts.......................... 47 Section 5.15. Debt Service Coverage Ratios .................. 48 Section 5.16.
Cash Collateral Subaccount. 25 3.10 GRANT OF SECURITY INTEREST; APPLICATION OF FUNDS................26 3.11 PROPERTY CASH FLOW ALLOCATION...................................26
Cash Collateral Subaccount. If a Cash Management Period shall have commenced, then on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all Available Cash shall be paid to Lender, which amounts shall be transferred by Lender into a Subaccount (the “Cash Collateral Subaccount”) as cash collateral for the Debt. Any funds in the Cash Collateral Subaccount and not previously disbursed or applied shall be disbursed to Borrower upon the termination of such Cash Management Period. Lender shall have the right, but not the obligation, at any time (i) during the continuance of an Event of Default or (ii) subsequent to the second Calculation Date following the commencement of a Cash Management Period (whether or not an Event of Default is then continuing), in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its sole and absolute discretion, including to make a prepayment of Principal (together with the payment of any applicable Prepayment Premium due in connection therewith).
Cash Collateral Subaccount. At all times on and after the Project Completion Date, the Company shall maintain a balance in the Cash Collateral Subaccount equal to not less than the lesser of:
(1) an amount equal to (A) $13,500,000 less the face amount of the Letter of Credit, if any, issued in accordance with Schedule Q, multiplied by (B) a fraction, the denominator of which is $100,000,000 and the numerator of which is the aggregate mount of all Disbursements and all disbursements made under the OPIC Finance Agreement; and
(2) an amount equal to the sum of (A) the outstanding principal amount of the Tranche 1 Loan, (B) the outstanding principal amount of the OPIC Tranche 1 Loan, and (C) $5,000,000, less (D) the face amount of the Letter of Credit, if any, issued in accordance with paragraph l(b)(1) of Schedule Q. Amounts may be withdrawn by the Company from the Cash Collateral Subaccount only for the purpose of paying principal and interest under this Agreement and the OPIC Finance Agreement or to transfer any amount in excess of the minimum balance set forth above to the Revenue Subaccount to the extent (and only to the extent) required by the authorization issued by the Central Bank of Russia for the establishment and operation of the Offshore Bank Account. The Company shall not withdraw funds from the Cash Collateral Subaccount for any other purpose without the prior written consent of the Bank.
Cash Collateral Subaccount. At all times on and after the Project Completion Date, the Company shall maintain a balance in the Cash Collateral Subaccount equal to not less than the lesser of:
(1) an amount equal to (A) $13,500,000 less the face amount of the Letter of Credit, if any, issued in accordance with Schedule Q of the EBRD Loan Agreement, multiplied by (B) a fraction, the denominator of which is $100,000,000 and the numerator of which is the aggregate amount of all Disbursements and all disbursements made under the EBRD Loan Agreement; and
(2) an amount equal to the sum of(A) the outstanding principal amount of the Tranche 1 Loan, (B) the outstanding principal amount of the EBRD Tranche 1 Loan, and (C) $5,000,000, less (D) the face amount of the Letter of Credit, if any, issued in accordance with paragraph l(b)(1) of Schedule Q to the EBRD Loan Agreement. Amounts may be withdrawn by the Company from the Cash Collateral Subaccount only for the purpose of paying principal and interest under this Agreement and the EBRD Loan Agreement or to transfer any amount in excess of the minimum balance set forth above to the Revenue Subaccount to the extent (and only to the extent) required by the authorization issued by the Central Bank of Russia for the establishment and operation of the Offshore Bank Account. The Company shall not withdraw funds from the Cash Collateral Subaccount for any other purpose without the prior written consent of OPIC.
Cash Collateral Subaccount. 28 3.10 Grant of Security Interest; Application of Funds...............29 3.11
