Establishment and Maintenance of Reserve Accounts Sample Clauses

Establishment and Maintenance of Reserve Accounts. Borrower shall establish with Lender, or if Lender is not a depository institution or if Lender shall otherwise elect, a depository institution designated by Lender, the following subaccounts of the Deposit Account which shall be maintained on a ledger entry basis:
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Establishment and Maintenance of Reserve Accounts. On or before the date hereof, Borrowers shall establish with Lender, or if Lender is not a depository institution or if Lender shall otherwise elect, a depository institution designated by Lender, the following subaccount of the Mezzanine Loan Holding Account which shall be maintained on a ledger entry basis: an account (the “Current Debt Service Reserve Account”), which shall be maintained in accordance with Section 9.2.15 hereof. Each of the Mezzanine Loan Deposit Account, the Mezzanine Loan Holding Account and the Current Debt Service Reserve Account shall be in the name of and under the sole dominion and control of Lender, subject only to Lender’s obligations hereunder to advance funds or otherwise disburse or apply funds therefrom in accordance with this Agreement, and no Borrower shall have the authority or power to make withdrawals from the Current Debt Service Reserve Account. The amount required in the Current Debt Service Reserve Account as of the Closing Date may, at Lender’s election, be deposited on Borrowers’ behalf by Lender’s funding said amount out of the Loan proceeds. Funds in the Current Debt Service Reserve Account shall not be commingled with any other monies. Borrowers shall pay the costs of establishing and maintaining the Current Debt Service Reserve Account and shall pay the costs to maintain and shall maintain the Current Debt Service Reserve Account throughout the term of the Loan.
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Establishment and Maintenance of Reserve Accounts. At the respective times set forth below in subsections (a) though (h) of this Section 9.2.1, Borrower and Operating Lessee shall establish with Lender, or if Lender is not a depository institution or if Lender shall otherwise elect, a depository institution designated by Lender, the following subaccounts of the Holding Account which shall be maintained on a ledger entry basis:
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Establishment and Maintenance of Reserve Accounts. Borrower shall establish or cause the establishment of the accounts provided for in the Cash Management Procedures, in accordance with and subject to the terms and conditions set forth therein. Except as otherwise provided in the Cash Management Procedures, (a) for each Reserve Account, Borrower shall establish with one or more depository institutions selected by Lender, a separate account (each, a "Reserve Account"), and (b) each Reserve Account shall be in the name --------------- of and under the sole dominion and control of Lender or its Agent, subject to Lender's obligations hereunder, including without limitation, to advance funds therefrom in accordance with the Loan Documents and the Cash Management Procedures, and Borrower shall not have the authority or power to make withdrawals from any Reserve Account.
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Establishment and Maintenance of Reserve Accounts. At the respective times set forth below in this Section 7.2(a), Obligor shall establish with Agent, or if Agent is not a depository institution or if Agent shall otherwise elect, a depository institution designated by Agent, the following subaccounts of the Holding Account which shall be maintained on a ledger entry basis:
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Establishment and Maintenance of Reserve Accounts. At the respective times set forth below in subsections (a), (b), (c) and (d) of this Section 9.2.1, Borrower shall establish with a depository institution designated by Lender, as separate accounts (and the amounts therein shall be invested in Permitted Investments), the following reserve accounts on or prior to the Closing Date:
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Establishment and Maintenance of Reserve Accounts. At the respective times set forth below in Sections (a) though (j) of this Section 9.2.1, Issuer and Operating Lessee shall establish with Note Trustee, or if Note Trustee is not a depository institution or if Note Trustee shall otherwise elect, a depository institution designated by Note Trustee, the following subaccounts of the Holding Account which shall be maintained on a ledger entry basis: 133
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Establishment and Maintenance of Reserve Accounts. On or prior to the Closing Date, Borrower shall establish the following reserve accounts; provided, however, that notwithstanding anything to the contrary contained in this Agreement, Borrower shall have until Noon Eastern Time on March 20, 1998 to fund the initial amount required for the Leasing Reserve Account and the Deferred Maintenance Reserve Account and if Borrower shall fail to make such deposits by such time such failure shall not constitute an Event of Default hereunder (it being understood that the sole rights of Lender with respect thereto shall be to require the payment of interest at the rate specified in clause (ii) of the definition of Fixed Rate and to require the Cash Hold until such reserve accounts are funded in the initial amounts required as of the Closing Date):
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Related to Establishment and Maintenance of Reserve Accounts

  • Establishment of Reserve Account Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain in its corporate trust department, a segregated trust account that is an Eligible Deposit Account and that is a “securities account” as that term is defined in Section 8-501(a) of the UCC in the name of Secured Party and under the sole dominion and control of Secured Party, designated as “Toyota Auto Receivables 20[__]-[_] Owner Trust Reserve Account.” Securities Intermediary hereby undertakes to treat Secured Party as the person entitled to exercise the rights that comprise any Financial Asset credited to the Reserve Account. Secured Party and Pledgor agree that this account shall be the Reserve Account.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

  • Maintenance of Dominion Account Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. Borrowers shall obtain an agreement (in form and substance satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during any Sweep Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Agent may, during any Sweep Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • Maintenance of Account In addition to, and not in lieu of, the obligation of the Securities Intermediary to honor entitlement orders as agreed in Section 3 hereof, the Securities Intermediary agrees to maintain the Account as follows:

  • RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance Reserve Account Deposits Made Reserve Account Draw Amount Ending Reserve Account Balance Change in Reserve Account Balance Specified Reserve Balance

  • Yield Maintenance Account On or prior to the Closing Date, the Securities Administrator shall cause to be established and maintained the Yield Maintenance Account, into which amounts received by the Securities Administrator pursuant to the Yield Maintenance Agreement shall be deposited for the benefit of the Subordinate Certificates and the Class Y Certificates. Amounts on deposit in the Yield Maintenance Account shall not be invested and shall not be held in an interest-bearing account. The Securities Administrator shall deposit all amounts received from the Yield Maintenance Provider under the Yield Maintenance Agreement into the Yield Maintenance Account immediately upon receipt. On each Distribution Date, the Securities Administrator, as Paying Agent for the Trustee, shall withdraw from the Yield Maintenance Account (i) the Yield Maintenance Distributable Amount with respect to the Yield Maintenance Agreement then on deposit therein and distribute such amounts in respect of any Basis Risk Shortfalls for the Subordinate Certificates on such Distribution Date, sequentially, to the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates, in that order, up to the amount of Basis Risk Shortfalls due for each such Class, and (ii) any amounts remaining on deposit therein after distributions made pursuant to (i) above, and distribute such amounts to the Class Y Certificates. For any Distribution Date on which there is a payment under the Yield Maintenance Agreement and such Yield Maintenance Payment exceeds the related Yield Maintenance Distributable Amount, the amount representing such excess payment shall not be an asset of the Trust Fund and, instead, shall be paid into and distributed out of a separate trust created by this Agreement for the benefit of the Class Y Certificates and shall be distributed to the Class Y Certificates pursuant to this Section 4.04. Under the Yield Maintenance Agreement and for each Distribution Date, the Class Y Certificates shall be entitled to a distribution equal to the sum of (i) such excess and (ii) the excess of the related Yield Maintenance Distributable Amount over the amount of unpaid Basis Risk Shortfalls with respect to the related Certificates. To the extent that it constitutes a “reserve fund” for purposes of the REMIC Provisions, the Yield Maintenance Account established hereunder shall be an “outside reserve fund” as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Holder of the Class Y Certificates, and the Holder of the Class Y Certificates shall report all amounts of income, reduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the fund shall be treated as distributed by the REMIC to the Holder of the Class Y Certificates. The Securities Administrator shall terminate the Yield Maintenance Provider upon the occurrence of an event of default or termination event under the Yield Maintenance Agreement of which the Securities Administrator has actual knowledge. In the event that the Yield Maintenance Agreement is canceled or otherwise terminated for any reason (other than the exhaustion of the interest rate protection provided thereby), the Securities Administrator shall, at the direction of Certificateholders evidencing Voting Rights not less than 50% of the Subordinate Certificates, and to the extent a replacement contract is available (from a counterparty designated by the Depositor and acceptable to Certificateholders evidencing Voting Rights not less than 50% of the Subordinate Certificates), execute a replacement contract comparable to the Yield Maintenance Agreement providing interest rate protection which is equal to the then-existing protection provided by the Yield Maintenance Agreement; provided, however, that the cost of any such replacement contract providing the same interest rate protection may be reduced to a level such that the cost of such replacement contract shall not exceed the amount of any early termination payment received from the Yield Maintenance Provider. On any Distribution Date on or prior to the Distribution Date in October 2009, if the aggregate Class Certificate Principal Balance of the Subordinate Certificates equals zero (but not including the Distribution Date on which such aggregate Class Certificate Principal Balance is reduced to zero), all amounts received by the Securities Administrator with respect to the Yield Maintenance Agreement shall be distributed directly to the Class Y Certificateholder. After the Distribution Date in October 2009, or upon the termination of the Trust, the Yield Maintenance Agreement shall be terminated.

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