General Reserve Account Clause Samples

General Reserve Account. (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain a General Reserve Account, which shall be an Eligible Account, for the benefit of the Noteholders. If any such account loses its status as an Eligible Account, the funds in such account shall be moved to an account that qualifies as an Eligible Account within thirty (30) days. On or prior to the Closing Date, the Issuer shall cause an amount equal to the General Reserve Required Amount to be deposited into the General Reserve Account. Thereafter, on each Payment Date and Interim Payment Date, the Indenture Trustee shall withdraw Available Funds from the Note Payment Account and deposit them into the General Reserve Account pursuant to, and to the extent required by, Section 4.5(a). (b) Consistent with the limited purposes for which the General Reserve Account is to be established, on each Payment Date, an amount equal to the aggregate of amounts described in clauses (iii) through (vii) of Section 4.5(a) allocable to the related Class, as appropriate, and which is not payable out of Available Funds due to an insufficiency of Available Funds, shall be withdrawn from the General Reserve Account by the Indenture Trustee and remitted for payment in respect of the related Class’ allocable share of such items as described in Section 4.5(a). On any Payment Date on which amounts are withdrawn from the General Reserve Account pursuant to Section 4.5(a), no funds shall be withdrawn from the Collection and Funding Account (or from the Note Payment Account for deposit into the Collection and Funding Account) to pay New Receivables Funding Amounts or amounts to the Issuer pursuant to Section 4.3 if, after giving effect to the withdrawals described in the preceding sentences, the amount then standing to the credit of the General Reserve Account is less than the General Reserve Required Amount. All Collections received in the Collection and Funding Account shall be deposited into the General Reserve Account until the General Reserve Required Amount is reached, as described in Section 4.5. (c) If on any Payment Date the amount on deposit in the General Reserve Account is equal to or greater than the aggregate Note Balance for all Classes of Notes Outstanding (after payment on such Payment Date of the amounts described in Section 4.5) the Indenture Trustee will withdraw from the General Reserve Account the aggregate Note Balance amount and remit it to the Holders of the Notes in reduction of the...

General Reserve Account. An account established for each Series which shall be a segregated non-interest bearing trust account which is an Eligible Account, established and maintained pursuant to Section 4.6, and in the name of the Indenture Trustee in trust for the Noteholders and identified by each relevant Series.

General Reserve Account. In accordance with the terms and provisions of this Section 5 and Section 4.6 of the Base Indenture, the Indenture Trustee shall establish and maintain a General Reserve Account, which shall be an Eligible Account, with respect to the Series 2013-T1 Notes for the benefit of the Series 2013-T1 Noteholders.

General Reserve Account. The Issuer hereby directs and the Indenture Trustee hereby agrees to cause to be established and maintained an account (the “General Reserve Account”) for the benefit of the Noteholders. On the Closing Date, the Indenture Trustee shall deposit, from the proceeds from the sale of the Notes, an amount equal to the General Reserve Account Initial Deposit. The General Reserve Account shall be an Eligible Bank Account initially established at the corporate trust department of the Indenture Trustee, bearing the following designation “BXG Receivables Note Trust 2016-A, Timeshare Loan-Backed Notes, Series 2016-A — General Reserve Account, U.S. Bank National Association, as 19

General Reserve Account. One Business Day immediately prior to the day that Transaction Card Services are provided to Merchants hereunder, Company will establish and fund an account (the “General Reserve Account”) at WFB in the minimum amount of [***] (subject to revision pursuant to the Credit Policy). Such obligation may also be satisfied by delivery of a certificate of deposit or letter of credit if approved by WFB. Subject to Section 5.11.2, Company shall maintain such amount (or other amount agreed by both parties) in the General Reserve Account at all times during the term of this Agreement and thereafter as provided in Section 5.11.3. ▇▇▇▇▇ Fargo retains the right to change the amount of such reserve during the term of this Agreement. ▇▇▇▇▇ Fargo may request such reserve upon ten (10) days written notice to Company, except that if Company terminates or significantly limits its business operations, is liquidated, dissolved, enters into receivership, makes an assignment for the benefit of creditors, is insolvent or unable to pay its debts as they mature in the ordinary course of business, or if there are any proceedings instituted by or against Company in bankruptcy or under any insolvency laws or for reorganization, receivership or dissolution, then WFB may request the amount of the required balance immediately upon written notice to Company. Notwithstanding the foregoing, the parties agree that the level of the General Reserve as of the Effective Date of this Agreement, which is based on Company’s current profile and WFB’s current underwriting criteria, is sufficient for purposes of WFB’s General Reserve requirement and will continue to be sufficient as long as the business and/or risk profile of Company does not materially change (which determination shall be made by WFB, in its sole discretion, after taking into consideration factors such as type of Merchant or Merchant volume, Company financials, and/or any material changes to policies, procedures, controls and key management personnel). If Company does not agree with the amount of any General Reserve increase requested by ▇▇▇▇▇ Fargo, Company may terminate the Agreement by funding the amount requested and giving written notice to ▇▇▇▇▇ Fargo indicating Company’s intent to terminate no later than thirty (30) days after receiving notice of such request. In the event Company terminates the Agreement for the reasons described in the preceding sentence, (1) Company shall not be obligated to pay any Early Termination penaltie...

General Reserve Account. The Borrower shall not, and shall not permit any of its Subsidiaries to, deposit into the General Reserve Account (as defined in the Merchant Financial Services Agreement) an amount in excess of $25,000,000 in the aggregate during the term of this Agreement; provided, however, that it is understood and agreed that such $25,000,000 limitation shall exclude amounts that are refunded to the Borrower from the General Reserve Account.

General Reserve Account. Borrower shall not fund the General Reserve Account from any amounts on deposit in, or required to be deposited into, the Remittance Account or any Collection Account other than Available Income.

General Reserve Account. There shall be $400,000 in the General Reserve Account on the Original Maturity Date.

General Reserve Account. (a) On or before the Closing Date, the Securities Intermediary shall establish and maintain as a segregated account, the General Reserve Account in the name of the Trustee for the benefit of the Noteholders. Amounts deposited to the General Reserve Account will be invested by the Securities Intermediary at the written direction of the Servicer in Permitted Investments. Absent such written directions, such amounts will remain uninvested. The General Reserve Account shall be held in one Eligible Deposit Account in the form of a segregated account in a corporate trust department wherein the moneys therein may be invested in Permitted Investments. The Servicer shall monitor the General Reserve Account in accordance with its customary policies and procedures. (b) Deposits to the General Reserve Account shall be made in accordance with ‎Section 7.05(a)(i)(6). (c) Subject to ‎Section 7.02(d) and ‎Section 7.02(e) below, if on any Payment Date, Interest Collections, Principal Collections and any other amounts on deposit in the Collection Account on the last day of the related Collection Period (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Servicer shall direct the Securities Intermediary in writing (via the related Monthly Report) to withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in the Distribution Account as Principal Collections on the Business Day immediately preceding such Payment Date. (d) Upon the occurrence of a Rapid Amortization Event or an Event of Default, the Servicer shall direct the Securities Intermediary in writing (via the related Monthly Report) to withdraw all amounts on deposit in the General Reserve Account and deposit such amounts to the Distribution Account for distribution in accordance with ‎Section 7.05(b)(iii) or ‎Section 7.05(c). (e) On the earlier to occur of the Legal Final Payment Date and the Payment Date on which the Aggregate Outstanding Note Balance is reduced to zero, the Servicer shall direct the Securities Intermediary in writing (via the related Monthly Report) to withdraw all amounts on deposit in the General Reserve Account and deposit such amounts to the Distribution Account. (f) Except if a Rapid Amortization Event or an Event of Default shall have occurred and is continuing, on a...