Future Funding Reserve Account. The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated non-interest bearing trust account in the name “Athena Funding I LLC Future Funding Reserve Account, subject to the lien of State Street Bank and Trust Company, as Collateral Agent for the benefit of the Secured Parties”, which shall be designated as the “Future Funding Reserve Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. Such account shall be held in trust for the benefit of the Secured Parties. On the date of any acquisition by the Borrower of any Revolving Collateral Loan or Delayed Funding Loan (including by way of contribution or substitution), the Borrower (or the Services Provider on behalf of the Borrower) shall by Borrower Order direct the Collateral Agent to, and upon receipt of such Borrower Order the Collateral Agent shall, transfer Principal Proceeds to the Future Funding Reserve Account in an amount equal to the Exposure Amount in respect of such Revolving Collateral Loan or Delayed Funding Loan. The Collateral Agent shall maintain on deposit in the Future Funding Reserve Account an amount equal to (i) the aggregate Exposure Amount plus (ii) the excess, if any, of the aggregate Unsettled Amount as of such date (as identified by the Borrower, or the Services Provider on behalf of the Borrower) over the sum of (x) amounts on deposit in the Collection Account, including Eligible Investments credited thereto, representing Principal Proceeds and (y) if such date is prior to the end of the Commitment Period, the Undrawn Commitment as of such date (the “Required Amount”), in accordance with Articles VIII and IX. The Borrower (or the Services Provider on behalf of the Borrower) shall by Borrower Order direct the Collateral Agent to, and upon receipt of such Borrower Order the Collateral Agent shall, transfer Principal Proceeds to the Future Funding Reserve Account on any Business Day on which amounts standing to the credit of the Future Funding Reserve Account do not equal or exceed the Required Amount. By Borrower Order (which may be in the form of standing instructions), the Borrower (or the Services Provider on behalf of the Borrower) may, so long as no Event of Default has occurred and is continuing, direct the Collateral Agent to, and, upon receipt of such Borrower Order, the Collateral Agent shall, invest all funds received into the Future Funding Reserve Account as so directed solely in ov...
Future Funding Reserve Account. (a) The Trustee shall prior to the Closing Date establish a single, segregated trust account which shall be designated as the “Future Funding Reserve Account” which shall be held in trust in the name of the Trustee for the benefit of the Future Advance Holders. From time to time, the Future Advance Holders (or one or more other entities on their behalf) may contribute to the Issuer amounts for deposit into the Future Funding Reserve Account. The Trustee shall deposit into the Future Funding Reserve Account all amounts so received by the Issuer. At the direction of the Collateral Manager, the Issuer may by Issuer Order direct the Trustee to, and upon receipt of the Issuer Order, the Trustee shall, transfer all amounts on deposit in the Future Funding Reserve Account, if any, to the Future Advance Holders to satisfy the additional commitments in respect of one or more Third-Party Held Delayed Draw Loans or Third-Party Held Revolving Loans or reimburse the Issuer for losses related to the failure to fund such future funding commitments in accordance with the related Underlying Instruments. Amounts on deposit in the Future Funding Reserve Account shall be invested in Permitted Investments. Amounts on deposit in the Future Funding Reserve Account (or any portion thereof) shall be released and paid to the Future Advance Holders (or their designees) on any date on which the Future Funding Reserve Test would be satisfied after such release and payment. For the avoidance of doubt, amounts on deposit in the Future Funding Reserve Account shall not be included in the Assets securing the Notes.
Future Funding Reserve Account. Notwithstanding anything to the contrary herein, upon the expiration of the Availability Period or upon the occurrence of an Event of Default, if the amount on deposit in the Future Funding Reserve Account is less than the Aggregate Exposure Amount, the Borrower shall be deemed to have made a request for a Credit Extension and for such Loans to be deposited into the Future Funding Reserve Account in the amount of the lesser of (x) such shortfall and (y) the Aggregate Exposure Loan Amount.
