Common use of Debt Service Reserve; Labor Contingency Interest Reserve Clause in Contracts

Debt Service Reserve; Labor Contingency Interest Reserve. (a) The Borrower agrees that all amounts deposited into the Debt Service Account from time to time shall be applied in accordance with Section 3.07 of the Security Agreement. Subject to Section 3.06(d) of the Security Agreement and to the terms of the NBA Consent Letter in each event, at any time that the amount in the Debt Service Account is less than the Debt Service Reserve Amount, League Pledged Revenue Receipts deposited into the Collection Account shall be transferred into the Debt Service Account to the extent required so that the amount in the Debt Service Account is equal to the Debt Service Reserve Amount. Subject to Section 2.19(b), at the Borrower’s request, the Agent shall release to the Borrower amounts from the Debt Service Account to the extent of any excess above the Debt Service Reserve Amount, provided that no Event of Default is continuing. Any amounts remaining in the Debt Service Account on the earlier of the Maturity Date and the date that all of the Commitments are terminated, other than any such amounts required to be utilized for the payment of principal or interest on Loans or other amounts then due and payable hereunder by the Borrower, shall be released to the Borrower, provided that no Event of Default is continuing.

Debt Service Reserve; Labor Contingency Interest Reserve. (a) The Borrower agrees that all amounts deposited into the Debt Service Account from time to time shall be applied in accordance with Section 3.07 and 4.02 of the Security Agreement. Subject to Section 3.06(d) 3.06 of the Security Agreement and to Agreement, if on the terms first date of any fiscal quarter of the NBA Consent Letter in each event, at any time that Borrower the amount in the Debt Service Account is less than the Debt Service Reserve AmountAmount on such date, within ten Business Days of such date the Borrower shall transfer League Pledged Revenue Receipts and Local Pledged Revenue Receipts deposited into the Collection Account shall be transferred in an amount equal to such shortfall into the Debt Service Account Account. Subject to Section 2.19(b), if on the extent required so that first date of any fiscal quarter of the Borrower the amount in the Debt Service Account is equal to greater than the Debt Service Reserve Amount. Subject to Section 2.19(b)Amount on such date, at the Borrower’s request, the Agent shall release to the Borrower amounts from the Debt Service Account to the extent of any excess above the Debt Service Reserve Amountsuch excess, provided that no Event of Default is continuing. Any amounts remaining in the Debt Service Account on the earlier of the Maturity Date and the date that all of the Commitments are terminated, other than any such amounts required to be utilized for the payment of principal or interest on Loans or other amounts then due and payable hereunder by the Borrower, shall be released to the Borrower, provided that no Event of Default is continuing.