Deposits and Withdrawals from the Liquidity Reserve Account. Deposits into, and withdrawals from, the Liquidity Reserve Account shall, subject to Section 2.7(D), be made in the following manner:
(i) On or prior to the initial Borrowing Date, the Borrower shall deliver to the Agent for deposit into the Liquidity Reserve Account, an amount equal to the Liquidity Reserve Account Required Balance as of such date;
(ii) On each Payment Date, the Agent shall deposit into the Liquidity Reserve Account from available Collections (as set forth and in the order of priority established pursuant to Section 2.7(B)), funds in the amount required under Section 2.7(B), and the Borrower may, at its option, deposit additional funds into the Liquidity Reserve Account;
(iii) If on any Payment Date (without giving effect to any withdrawal from the Liquidity Reserve Account) available funds on deposit in the Collection Account would be insufficient to make the payments due and payable on such Payment Date pursuant to Section 2.7(B)(i) through (iv), the Agent, based on the Monthly Servicer Report delivered pursuant to Section 6.1 of the Servicing Agreement, shall withdraw from the Liquidity Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the Liquidity Reserve Account and deposit such amount into the Collection Account and apply such amount to payments set forth in Section 2.7(B)(i) through (iv);
(iv) Upon the occurrence of an Event of Default, the Agent shall withdraw all amounts on deposit in the Liquidity Reserve Account and deposit such amounts into the Collection Account for distribution in accordance with Section 2.7(B);
(v) On the earliest to occur of (a) the Commitment Termination Date, (b) an Amortization Event, and (c) the date on which the outstanding balance of the Advances is reduced to zero, the Agent shall, in the case of subclauses (a), (b) and (c) withdraw all amounts on deposit in the Liquidity Reserve Account and deposit such amounts into the Collection Account to be paid in accordance with Section 2.7(B); provided, however, that (1) upon the occurrence of an Amortization Event (Solar Loans) of the type described in clauses (ii), (iii) or (iv) of the definition thereof, the Agent shall not be required to withdraw all amounts in the Liquidity Reserve Account in accordance with the foregoing unless and until determined otherwise by the Agent in its reasonable discretion and (2) upon the occurrence of an Amortization Event (Solar Assets) of the type described in clauses (iii),...
Deposits and Withdrawals from the Liquidity Reserve Account. Deposits into, and withdrawals from, the Liquidity Reserve Account shall, subject to Section 2.7(D), be made in the following manner:
(i) On the Closing Date, the Borrower shall by delivery of a portion of the proceeds of the Loan to the Paying Agent for deposit into the Liquidity Reserve Account, cause the amount on deposit in the Liquidity Reserve Account to equal sum of the Liquidity Reserve Account Required Balance and the Customer Agreement Reserve Amount. In addition, funds shall be deposited into the Liquidity Reserve Account pursuant to and accordance with Section 2.7(B) until the amounts on deposit therein shall equal the Liquidity Reserve Account Required Balance.
(ii) On any Payment Date when Available Funds are insufficient to pay the amounts then due and owing at clauses (i) through (iii)(a) of Section 2.7(B), the Paying Agent shall (in accordance with the related Quarterly Manager Report) withdraw from the Liquidity Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the Liquidity Reserve Account and deposit such amount to the Collection Account to be used as Available Funds for such Payment Date. The Paying Agent shall promptly notify the Facility Agent and the Collateral Agent if, at any time, there are insufficient funds on deposit in the Liquidity Reserve Account to make the payments required by this clause (ii).
(iii) The Manager may (on behalf of the Borrower and no more than once per calendar month and by delivery of an officer’s certificate) direct the Paying Agent to withdraw an amount equal to the Allocated Customer Agreement Reserve Amount for each Solar Asset listed on Schedule V and for which the Custodian has delivered a Custodial Certification or an on-hand report in accordance with the Custodial Agreement confirming that there is a fully executed Electronic Copy of the related Customer Agreement, including any amendments thereto (including Electronic Copies of any related Payment Facilitation Modification) and pay such Allocated Customer Agreement Reserve Amounts as directed in the officer’s certificate.
(iv) If on any Payment Date after December 31, 2022, funds on deposit in the Liquidity Reserve Account are in excess of the Liquidity Reserve Account Required Balance (taking into account withdrawals made pursuant to clause (v)), the Paying Agent shall (in accordance with the related Quarterly Manager Report) transfer such amounts to the Collection Account to be used as Available Fu...
