Common use of General Reserve Account Clause in Contracts

General Reserve Account. (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain a General Reserve Account or Accounts for each Series, each of which shall be an Eligible Account, for the benefit of the Noteholders of such Series. 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 Issuance Date for each Series, the Issuer shall cause an amount equal to the related General Reserve Required Amount(s) to be deposited into the related General Reserve Account(s). 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 each such General Reserve Account pursuant to, and to the extent required by, Section 4.5(a) and the related Indenture Supplement.

General Reserve Account. (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain a General Reserve Account or Accounts for each Series, each of which shall be an Eligible Account, for the benefit of the Noteholders of such Series. 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 fourteen (3014) days. On or prior to the Issuance Date for each Series, the Issuer shall cause an amount equal to the related General Reserve Required Amount(s) to be deposited into the related General Reserve Account(s). 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 each such General Reserve Account pursuant to, and to the extent required by, Section 4.5(a) and the related Indenture Supplement.