Establishment and Operations of Accounts Sample Clauses

Establishment and Operations of Accounts. The Administrative Agent shall cause the Operating Bank to establish and maintain (in accordance with Section 3.01(a) of the Indenture and as provided in the Security Trust Agreement) (1) on the Initial Closing Date (t) the Collections Account, (u) the Lessee Funded Accounts consisting of the separate accounts so designated on Schedule 1 hereto, (v) the Rental Accounts designated on Schedule 1 hereto, (w) the Expense Account, (x) a Note Account for each subclass of Initial Notes, (y) the Varig Reserve Accounts and (z) the Owner Trustee Account and (2) thereafter, as and when required by the Indenture or as specified in a Controlling Trustees' Resolution delivered to the Administrative Agent, the Trustee and the Security Trustee or, in the case of any Rental Account or any Lessee Funded Account, as requested by the Servicer under the Servicing Agreement, any Account referred to in Section 3.01(a)(ii) of the Indenture. Each such Account shall, when established, be operated in accordance with the applicable provisions of Section 3.01 of the Indenture and Section 2.06 of the Security Trust Agreement.
Sample 1
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Establishment and Operations of Accounts. The Cash Manager shall take all reasonably necessary steps to ensure that the Operating Bank establishes and maintains (in accordance with Section 3.01(a) of the Indenture and as provided in the Security Trust Agreement) (1) on or before the Initial Closing Date (a) the Collections Account, (b) the Lessee Funded Accounts consisting of the separate accounts so designated on Schedule 1 hereto, (c) the Security Deposit Account, (d) the Senior Cash Collateral Account (if established), (e) the Expense Account, (f) one Note Account for the Class G-1 Notes, (g) one Aircraft Purchase Account for each Initial Aircraft not acquired on the Initial Closing Date, (h) the Capital Account, (i) the Class B Shareholder Account, (j) the Liquidity Facility Reserve Account, (k) the Initial Liquidity Payment Account and (l) an Aircraft Conversion Account, and (2) on the Initial Closing Date and thereafter, (a) one or more Rental Accounts designated on Schedule 1 hereto and any Lessee Funded Accounts and (b) as and when required by the Indenture or as established in a Board Resolution delivered to the Trustee, the Security Trustee and the Cash Manager, any additional Note Accounts, an additional Aircraft Purchase Account for each Additional Aircraft not acquired on the Closing Date for the related Additional Notes, an Aircraft Conversion Account, the Defeasance/Redemption Account, the Refinancing Account, and any other Account (including, any Cash Collateral Account) referred to in or established in accordance with Section 3.01(a)(ii) of the Indenture. The Cash Manager shall establish the Irish VAT Refund Account in the name of the Issuer at an Eligible Institution. Each such Account shall, when established, be operated in accordance with the applicable provisions of Section 3.01 of the Indenture and Section 2.06 of the Security Trust Agreement.
Sample 1
Establishment and Operations of Accounts. The Cash Manager shall take all reasonably necessary steps to ensure that the Operating Bank establishes and maintains (in accordance with Section 3.01(a) of the Indenture and as provided in the Security Trust Agreement) (1) on the Initial Closing Date (a) the Collections Account, (b) the Lessee Funded Accounts consisting of the separate accounts so designated on Schedule 1 hereto, (c) the Security Deposit Account, (d) the Rental Account designated on Schedule 1 hereto, (e) the Expense Account, (f) one Note Account for the Class G-1 Notes, (g) the Aircraft Purchase Account, (h) the Capital Account, (i) the Class B Shareholder Account, (j) the Liquidity Facility Reserve Account, (k) the Initial Liquidity Payment Account, (l) the Budgeted Cash Reserve Account and (m) the Budgeted Cash Account and (2) on the Initial Closing Date and thereafter, as and when required by the Indenture or as specified in a Board Resolution delivered to the Cash Manager, the Trustee and the Security Trustee or, in the case of any Rental Account or any Lessee Funded Account, as requested by the Servicer under the Servicing Agreement, any Account referred to in Section 3.01(a)(ii) of the Indenture. The Cash Manager shall establish the Irish VAT Refund Account in the name of the Issuer at an Eligible Institution. Each such Account shall, when established, be operated in accordance with the applicable provisions of Section 3.01 of the Indenture and Section 2.06 of the Security Trust Agreement.
Sample 1

Related to Establishment and Operations of Accounts

  • Management and Operations of Business Except as otherwise expressly provided in this Agreement, all powers to control and manage the business and affairs of the Partnership shall be vested exclusively in the General Partner; the Limited Partner shall not have any power to control or manage the Partnership.

  • Establishment of Accounts (a) The Servicer shall establish and maintain an Eligible Account with the Securities Intermediary in the name of the Indenture Trustee for the benefit of (i) the Securityholders (the “Collection Account”), (ii) the Noteholders (the “Note Distribution Account”), (iii) the Securityholders (the “Reserve Fund”) and (iv) the Securityholders (the “Yield Supplement Account”), in each case, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the related Securityholders. Except as otherwise provided in this Agreement, in the event that the Indenture Trustee is no longer an Eligible Institution, the Servicer shall, with the assistance of the Indenture Trustee as necessary, cause the Accounts to be moved to an Eligible Institution. (b) To the extent permitted by applicable laws, rules and regulations, all amounts held in the Collection Account, the Reserve Fund and the Yield Supplement Account shall be either invested by the Securities Intermediary in Eligible Investments selected in writing by the Servicer or maintained in cash. No amounts held in the Note Distribution Account will be invested. Earnings on investment of funds in the Collection Account (net of losses and investment expenses) shall be paid to the Servicer as part of the Supplemental Servicing Fee and any losses and investment expenses shall be charged against the funds on deposit in the related Account. (i) Except as otherwise provided in Section 4.01(b), the Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Accounts and in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Owner Trust Estate. The Accounts shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders or the Securityholders, as the case may be. (ii) Notwithstanding anything else contained herein, the Servicer agrees that the Reserve Fund, the Yield Supplement Account and the Collection Account will be established only with an Eligible Institution which agrees substantially as follows: (A) it will comply with Entitlement Orders related to such account issued by the Indenture Trustee without further consent by the Servicer or Issuer; (B) until termination of this Agreement, it will not enter into any other agreement related to such account pursuant to which it agrees to comply with Entitlement Orders of any Person other than the Indenture Trustee; (C) all Account Property delivered or credited to it in connection with such account and all proceeds thereof will be promptly credited to such account; (D) it will treat all Account Property as Financial Assets; and (E) all Account Property will be physically delivered (accompanied by any required endorsements) to, or credited to an account in the name of, the Eligible Institution maintaining the related Account in accordance with such Eligible Institution’s customary procedures such that such Eligible Institution establishes a Security Entitlement in favor of the Indenture Trustee with respect thereto over which the Indenture Trustee (or such other Eligible Institution) has Control. (iii) The Servicer shall have the power, revocable by the Indenture Trustee or by the Owner Trustee with the consent of the Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Accounts for the purpose of permitting the Servicer or the Owner Trustee to carry out its respective duties hereunder or under the Trust Agreement or permitting the Indenture Trustee to carry out its duties under the Indenture.

  • Management and Operations Promotes the learning and growth of all students and the success of all staff by ensuring a safe, efficient, and effective learning environment, using resources to implement appropriate curriculum, staffing, and scheduling

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any. (b) The Custodian may from time to time establish on its books and records such sub-accounts within each Account as the Fund and the Custodian may agree upon (each a “Special Account”), and the Custodian shall reflect therein such assets as the Fund may specify in Instructions. (c) The Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, future commission merchant or other third party identified in Instructions such accounts on such terms and conditions as the Fund and the Custodian shall agree, and the Custodian shall transfer to such account such Securities and money as the Fund may specify in Instructions.

  • STANDARDS OF MANAGEMENT AND OPERATIONS In performing its obligations hereunder, during the term of this ESA, the Competitive Supplier shall exercise reasonable care to assure that its facilities are prudently and efficiently managed; that it employs an adequate number of competently trained and experienced personnel to carry out its responsibilities; that it delivers or arranges to deliver a safe and reliable supply of such amounts of electricity to the Point of Delivery as are required under this ESA; that it complies with all relevant industry standards and practices for the supply of electricity to Participating Consumers; and that, at all times with respect to Participating Consumers, it exercises good practice for a Competitive Supplier and employs Commercially Reasonable skills, systems and methods available to it.

  • Management and Operation of Business Section 7.1 Management 59 Section 7.2 Replacement of Fiduciary Duties 61 Section 7.3 Certificate of Limited Partnership 61 Section 7.4 Restrictions on the General Partner’s Authority 62 Section 7.5 Reimbursement of the General Partner 62 Section 7.6 Outside Activities 63 Section 7.7 Indemnification 64 Section 7.8 Liability of Indemnitees 66 Section 7.9 Standards of Conduct and Modification of Duties 67 Section 7.10 Other Matters Concerning the General Partner and Indemnitees 68 Section 7.11 Purchase or Sale of Partnership Interests 69 Section 7.12 Registration Rights of the General Partner and its Affiliates 69 Section 7.13 Reliance by Third Parties 71

  • Management and Operation 6.01 Management of Partnership Affairs 16 6.02 Duties and Obligations of General Partner 17 6.03 Release and Indemnification 17 6.04 Power of Attorney 18

  • Location of accounts Each Borrower shall promptly: (a) comply with any requirement of the Agent as to the location or re-location of the Accounts (or any of them); and (b) execute any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Accounts.

  • Investment of Accounts (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

  • Management Accounts To the extent that it owns any Management Account (including any lock-box related thereto), each Guarantor shall comply with Section 5.1 of the Base Indenture with respect to each such Management Account (including any lock-box related thereto).

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