Cash Trap Reserve Account. The Indenture Trustee shall, as directed in the Servicing Report, withdraw amounts on deposit in the Cash Trap Reserve Account and distribute such amounts as are required to be distributed pursuant to Section 4.05 of the Indenture.
Cash Trap Reserve Account. During a Cash Trap Period, all Excess Cash Flow shall be transferred from the Holding Account into the Cash Trap Reserve Account (or, subject to the terms of Section 3.1.7(b) hereof, from the applicable Sub-account) and shall be retained by Lender as additional security for the Loan and shall be applied or disbursed as hereinafter provided. From and after the occurrence and continuation of an Event of Default, Lender shall have the right to apply any amounts then remaining in the Cash Trap Reserve Account to repay the Loan or any other amounts due hereunder or under the other Loan Documents in such order, manner and amount as Lender shall determine in its sole discretion. Provided no Event of Default shall have occurred and be continuing, Lender shall instruct the Cash Management Bank to release to Borrower any amounts remaining in the Cash Trap Reserve Account promptly after the Cash Trap Period is no longer continuing (as determined by Lender in accordance with the subsequent terms of this Section); provided, notwithstanding the foregoing, any amounts then remaining in the Cash Trap Reserve Account on the Anticipated Repayment Date shall be applied by Lender to reduce the Principal Amount of the Loan and all other Obligations then outstanding, including, without limitation, payment of the Liquidated Damages Amount to the extent any such amounts are applied prior to the expiration of the Prepayment Lockout Period. All determinations as to whether (i) a Low DSCR Period has occurred and is continuing shall be made by Lender in its sole but reasonable discretion and based on the financial information delivered by Borrower pursuant to Section 11.2 hereof and/or any other information available to Lender pursuant to the terms of the Loan Documents and (ii) a Casualty Restoration Period has occurred and is continuing shall be made by Lender in its sole but reasonable discretion and based on information required to be delivered by Borrower pursuant to Section 5.1.7 hereof (or any other information available to Lender).
Cash Trap Reserve Account. (a) Establishment of the Cash Trap Reserve Account. The Trustee shall establish and maintain the Cash Trap Reserve Account in the name of the Trustee for the benefit of the Secured Parties, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Secured Parties. The Cash Trap Reserve Account shall be an Eligible Account. (b)
Cash Trap Reserve Account. On the Accounting Date preceding any Payment Date that is anticipated to be a Cash Trap Reserve Cure Date, the Master Issuer shall instruct the Indenture Trustee in writing to withdraw on such Payment Date any amounts then on deposit in the Cash Trap Reserve Account and deposit such funds into the Collection Account; provided that such Payment Date constitutes a Cash Trap Reserve Cure Date.
Cash Trap Reserve Account. On or before the Closing Date, the Servicer shall establish an Eligible Account for the benefit of the Collateral Agent, as secured party hereunder, to serve as the “Cash Trap Reserve Account” (said account, and any account replacing the same in accordance with this Loan Agreement, the “Cash Trap Reserve Account”). All amounts in the Cash Trap Reserve Account shall be subject to the lien of the Collateral Agent for the benefit of the Lenders. The Cash Trap Reserve Account shall be under the sole dominion and control of the Collateral Agent and the Obligors shall not have the right to control or direct the investment or payment of funds therein. Collateral Agent, at Administrative Agent’s direction, may elect to change any financial institution in which the Cash Trap Reserve Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days’ notice to the Borrower.
Cash Trap Reserve Account. On or before the Closing Date, the Servicer shall establish an Eligible Account for the benefit of the Collateral Agent, as secured party
Cash Trap Reserve Account
