ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement, the VSBFA shall establish the Reserve Fund in the name of the VSBFA for the purpose of receiving all required premium charges to be paid by the Lender and the Borrower, and transfers made by the VSBFA, pursuant to Section 5.1. The Reserve Fund shall be titled Virginia Small Business Financing Authority – SSBCI Capital Access Program Reserve Fund. The Reserve Fund account shall be interest bearing in accordance with accounts of this type, and the Lender may not charge VSBFA for any fees related to VCAP loan transactions or for the maintenance of the Reserve Fund account. The Reserve Fund accounts are public deposits pursuant to the Security for Public Deposits Act and must be indicated as such on the Lender’s records. The Lender is subject to the collateralization and reporting requirements of the Act. If the Lender has an existing reserve fund established under another capital access program in Virginia, the Lender may request that the existing reserve fund be combined, at the VSBFA’s discretion, with the Reserve Fund established under this Agreement to the extent permitted by the existing reserve fund’s governing agreements. In the event that a Lender’s existing reserve fund is not combined with the Reserve Fund, the Lender may submit Claims to the Reserve Fund or the existing reserve fund to the extent permitted by the existing reserve fund’s governing agreements. A list of any loans outstanding associated with the existing reserve fund must be provided to the VSBFA prior to the combination of the Reserve Fund with any existing reserve funds.
ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement MBDC shall establish an administrative deposit account with the Lender in the name and under the control of MBDC for the purpose of receiving all Lender Premiums and Matching Premiums required pursuant to Section 5.1 hereof. The account shall be called the: MBDC Reserve Fund - *, (the “Reserve Fund”). * Insert name of lender
ESTABLISHMENT OF THE RESERVE FUND. The Transferor shall establish and maintain with the 1998-C Securitization Trustee a separate trust account to be known as the "Reserve Fund", which will include the money and other property deposited and held therein pursuant to Section 3.01(c) and this Section. Funds in the Reserve Fund shall be the property of the Transferor and not the property of the 1998-C
ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement, IBGC shall establish a Reserve Fund account in the name of IBGC for the purpose of receiving all required premium charges to be paid by the Lender and each Borrower, and transfers made by IBGC, pursuant to Section 5.1. See Appendix 1 for set-up instructions.
ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement, the Center shall establish a Reserve Fund account in the name of the Center for the purpose of receiving all required premium charges to be paid by the Lender and each Borrower, and transfers made by the Center, pursuant to Section 5.1.
ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement, the MSF shall establish an administrative account in the name of the MSF for the purpose of receiving all required premium charges to be paid by the Lender and the Borrower, and transfers made by the MSF, pursuant to Section 5.1. The account shall be called the Reserve Fund - (the “Reserve Fund”). If the Lender has an existing reserve fund established under the Capital Access Program established by the MSF, pursuant to Resolution 1986-39, this existing reserve fund will be combined with the reserve fund established under the Small Business Capital Access Program established by the MSF pursuant to Resolution 2006-002. A list of any enrolled loans outstanding in the reserve account established under the Capital Access Program established by the MSF pursuant to Resolution 1986-39 must be provided to the MSF prior to any fund transfer to the reserve account under the newly created Small Business Capital Access Program.
ESTABLISHMENT OF THE RESERVE FUND. (i) In order to assure that sufficient amounts to make required distributions to Noteholders will be available, the 1999-A Indenture Trustee shall establish and maintain with and in the name of the 1999-A Indenture Trustee an Eligible Account to be known as the "Reserve Fund", which will include the money and other property deposited and held therein pursuant to Section 3.03 and this Section 3.04. Funds in the Reserve Fund shall be the property of the 1999-A Securitization Trust and, to the extent provided herein, of HTC LP and HTD LP. If for any reason the Reserve Fund is no longer an Eligible Account, the Servicer shall, with the assistance of the 1999-A Indenture Trustee, promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account. The 1999-A Indenture Trustee shall retain, subject to the provisions of this 1999-A Securitization Trust Agreement and the other 1999-A Securitization Documents, all collections on or in respect of the 1999-A SUBI Interest transferred from the 1999-A SUBI Collection Account to the 1999-A Indenture Trustee, on behalf of the Noteholders, in accordance with such provisions, in the 1999-A Note Distribution Account or the Reserve Fund, as the case may be. The 1999-A Indenture Trustee shall be deemed to have possession of such monies and collections for purposes of Section 9-305 of the UCC of the jurisdiction in which such property is located.
ESTABLISHMENT OF THE RESERVE FUND. (i) In order to assure that sufficient amounts to make required distributions to Noteholders will be available, HTC LP and HTD LP shall establish and maintain with and in the name of the 1999-A Indenture Trustee an Eligible Account to be known as the "Reserve Fund", which will include the money and other property deposited and held therein pursuant to Section 3.03 and this Section 3.04. Funds in the Reserve Fund shall be the property of HTC LP and HTD LP and not the property of the 1999-A
ESTABLISHMENT OF THE RESERVE FUND. The Transferor shall establish and maintain with the 1998-B Securitization Trustee a separate trust account to be known as the "Reserve Fund", which will include the money and other property deposited and held therein pursuant to Section 3.01(c) and this Section. Funds in the Reserve Fund shall be the property of the Transferor and not the property of the 1998-B Securitization Trust. The Transferor hereby grants to the 1998-B Securitization Trustee for the benefit of the Investor Certificateholders a security interest in all funds (including Permitted Investments) in the Reserve Fund (including the Reserve Fund Initial Deposit) and the proceeds thereof, and the 1998-B Securitization Trustee shall have all of the rights of a secured party under the UCC with respect thereto; provided that all income from the investment of funds in the Reserve Fund and the right to receive such income are retained by the Transferor and are not transferred, assigned or otherwise conveyed to the 1998-B Securitization Trustee hereunder. The Reserve Fund shall be an Eligible Account and initially shall be established with the 1998-B Securitization Trustee. If for any reason the Reserve Fund is no longer an Eligible Account, the 1998-B Securitization Trustee shall promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account. All amounts held in the Reserve Fund shall be invested by the 1998-B Securitization Trustee, as directed in writing by the Servicer pursuant to Section 4.02(j) of the 1998-B SUBI Servicing Supplement, in Permitted Investments. Earnings on investment of funds in the Reserve Fund shall be paid to the Transferor on each Monthly Allocation Date, subject to Section 3.01(h)(ii), and losses and any investment expenses shall be charged against the funds on deposit therein. The 1998-B Securitization Trustee shall incur no liability for the selection of investments or for losses thereon absent its own negligence or willful misfeasance. The 1998-B Securitization Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity date or the failure of the Servicer to provide timely written investment directions.
ESTABLISHMENT OF THE RESERVE FUND. Upon execution of this Agreement, BDC shall establish an administrative deposit account in the name and under the control of BDC for the purpose of receiving all Lender Premiums, the “Reserve Fund”.
