Debt Service Reserve Sub-Account. The balance remaining in the ESCO Energy Savings O&M Account, after the Debt Service Payment Sub-Account is fully credited with, the Debt Service Reserve shall be transferred by the Trustee Bank from the ESCO Energy Savings O&M Account into Debt Service Reserve Sub-Account, to be utilized in the event of shortfall in the ESCO Energy Savings O&M Account to meet ESCO's Debt Service Payment requirements. [The ESCO shall not be required to deposit any amount to the credit of the Debt Service Reserve Sub-Account if the ESCO procures bank guarantee(s) or any letter of credit in a form and manner acceptable to the Lender for an amount equivalent to the Debt Service Reserve. The provision of such bank guarantee(s), or letter of credit shall not in any manner affect the Security Interest created or to be created in favour, or for the benefit, of the Lender. The bank guarantee(s), or other letter of credit referred to above may be invoked by the Lender at any time when there is shortfall in the ESCO Energy Savings O&M Account to meet the Debt Service Payment on any Distribution Date. On receipt of such bank guarantee(s), or other letter of credit, the amount(s) equivalent to the value of such bank guarantee(s) or other letter of credit, as the case may be, out of the amounts standing to the credit of the Debt Service Reserve Sub-Account, as applicable, shall be transferred to the ESCO Energy Savings O&M Account.]34]35
Debt Service Reserve Sub-Account. The Debt Service Reserve Sub-Account shall be established in the name of the Issuer and shall be denominated in Rupees.
Debt Service Reserve Sub-Account. Amounts on deposit in the Debt Service Reserve Sub-Account shall be held as additional collateral for the Loan and other obligations of Borrower under the Loan Documents unless and until Borrower establishes to Lender's satisfaction that the Debt Service Coverage Ratio for each of the three (3) and twelve (12) month periods ending in the month preceding the month in which Borrower requests a release of funds from the Debt Service Reserve Sub-Account equals or exceeds 1.25:1 (a "CASH TRAP CURE", subject, however, to such Cash Trap Cure being deemed to occur under the proviso at the end of this sentence), in which event Lender shall authorize the disbursement of the funds in the Debt Service Reserve Sub-Account to Borrower; PROVIDED, that no release of funds shall be permitted, and no Recovery Event shall be deemed to have occurred, (A) if an Event of Default shall have occurred and be continuing or (B) if a Cash Trap Event and subsequent Cash Trap Cure shall have already occurred twice during the term of the Loan.
Debt Service Reserve Sub-Account. Lender shall have the right -------------------------------- to withdraw amounts from the Debt Service Reserve Sub-Account to fund any deficiency in the amounts required to be deposited in the Impositions and Insurance Reserve Sub-Account and Debt Service Payment Sub-Account under Sections 3.3(a)(i) and (ii), respectively, as provided in Section 3.3(c).
