Funding of Reserve Sample Clauses

Funding of Reserve. The Reserve may be funded by deduction from payments due to you, a charge against the Bank Account, or against any of your accounts at the financial institution at which you maintain the Bank Account. Subject to Xxxxxx's approval and agreement, the reserve may be funded by an irrevocable letter of credit. The amount required to be maintained in the Reserve and the terms and conditions for maintaining the account shall be established by Xxxxxx in its discretion.
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Funding of Reserve. As and when required under Section 2.05 of the Deed of Trust, Borrower shall deliver to Lender (or such agent of Lender as Lender may designate in writing to Borrower from time to time) funds for deposit into a Reserve for the payment of all Impositions and Premiums (said funds together with additions thereto, the “Impositions and Premiums Reserve”). 000 XXXXXX XXXXXX – CASH MANAGEMENT AGREEMENT
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Funding of Reserve. In the event that a Reserve Account is to be gener- ated as permitted above, Worldline will promptly notify the applicable Merchant (with a copy of such notice also provided to IPC Europe) of such requirement. Such Reserve Account may be funded by all or any combi- nation of the following: (i) suspension of settlement credits or other pay- ments of any and all funds, money and amounts now due or hereafter to become due to such Merchant from Worldline; or (ii) Merchant’s delivery to Worldline of a letter of credit or Merchant’s pledge to Worldline of a freely transferable and negotiable certificate of deposit. Any such letter of credit or certificate of deposit shall be issued or established by a xxxxx- cial institution reasonably acceptable to Worldline and shall be in a form reasonably satisfactory to Worldline. Release of Reserve. Any Reserve Account may be required and/or held by Worldline for up to six (6) months after termination of this Agreement. Notwithstanding the foregoing, funds shall be released from the Reserve Account to Merchant to the extent no longer reasonably needed by Worldline to protect against reasonably foreseeable risks and liabilities. Specifically, at the end of the second, fourth, and sixth months following the termination of this Agreement, Worldline shall release the portion of the Reserve Account related to parts (i), (ii), (iii) and (v) of the Reserve Formula as outlined below: Months after Termination Cumulative % of Reserve to be Released 2 60% 4 80% 6 100% Any amounts maintained in the Reserve Account related to part (iv) of the Reserve Formula shall be released following the conclusion of nine (9) month following the termination of the applicable Merchant Contract. Schedule 6: Service Levels‌‌‌‌‌ detailed in the table below unless otherwise agreed to in writing between Worldline and IPC Europe. Service Additional Notes 1 PURPOSE OF THIS SCHEDULE Transaction Authorisation Online 24/7
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Related to Funding of Reserve

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • 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.

  • Pre-Funding Account On the Closing Date, the Depositor shall deposit in the Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any, upon satisfaction of the conditions set forth in Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the result of the aggregate Starting Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the related Cutoff Date and (ii), on behalf of the Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to or upon the order of the Depositor as payment for such Subsequent Receivables. If the Pre-Funded Amount has not been reduced to zero on the Payment Date immediately following the calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining in the Pre-Funding Account to the Note Distribution Account for distribution in accordance with Section 8.02(g) of the Indenture.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A(2018-6) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2018-6) Notes.

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Custodial Account (a) The Master Servicer may, from time to time as provided herein, make withdrawals from the Custodial Account of amounts on deposit therein pursuant to Section 3.07 that are attributable to the Mortgage Loans for the following purposes:

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