Maintenance Reserve Account. Pursuant to Section 3.01(g), all amounts consisting of Maintenance Reserves on deposit in any Rental Account shall be transferred to the Maintenance Reserves Account in the manner set forth in such section by the Operating Bank at the written direction of the Administrative Agent. In addition, amounts shall be transferred from the Collections Account to the Maintenance Reserve Account as provided in Section 3.07(k). In addition, if the Administrative Agent (after consultation with the Remarketing Servicer) reasonably determines as of any Business Day that a Maintenance Reimbursement Expenditure is due and payable, the Administrative Agent shall direct the Operating Bank in writing on such Business Day to withdraw from the Maintenance Reserve Account the lesser of (A) an amount equal to such Maintenance Reimbursement Expenditure and (B) the collected credit balance of such Account, and distribute to the applicable Person the amount so withdrawn in payment of such Maintenance Reimbursement Expenditure.
Maintenance Reserve Account. [Optional]
Maintenance Reserve Account. The Administrative Agent shall deposit amounts into the Maintenance Reserve Account from amounts on deposit in the Pre-Sale Account as specified in Section 8.8 or from amounts on deposit in the Revenue Account as specified in Section 8.12(b).
Maintenance Reserve Account. If, as of any Operating Expense Transfer Date, the cash available in the Revenue Account, the Excess Revenue Account and, if required, the Operating Reserve Account, is less than the Operating Expenses set forth in the Expense Certificate (or other certificate) setting forth such Operating Expenses to be paid through the next Operating Expense Date, the Administrative Agent shall transfer to the Person(s) entitled thereto in accordance with Section 8.12(a) (to the extent cash is available in the Maintenance Reserve Account) the amount of any deficiency in the payment of the Operating Expenses set forth in such certificate. Upon the occurrence and during the continuance of a Default or an Event of Default, funds in the Maintenance Reserve Account may be utilized to pay interest on and principal of the Loans.
Maintenance Reserve Account. Immediately upon the occurrence of a Trigger Event, and for so long as the same is continuing, the Borrower shall, and shall cause its Subsidiaries to, (i) pay all Maintenance Rent received by such Person after the occurrence of the Trigger Event into the Maintenance Reserve Account and (ii) cause to be credited to the Maintenance Reserve Account an amount equal to all Maintenance Rent received or deemed to have been received in connection with each Portfolio Aircraft (and not previously utilized in accordance with the relevant Lease) prior to the occurrence of the Trigger Event. The balance from time to time in the Maintenance Reserve Account shall be subject to withdrawal only as provided herein and in the Security Agreement. To the extent a Lessee provides a letter of credit under the applicable Lease in substitution for any Maintenance Rent required to be paid thereunder, then if a Trigger Event shall have occurred and be continuing, the Borrower shall within a commercially reasonable period of time since such Trigger Event, but in any event no longer than 10 Business Days after such Trigger Event, deliver (or cause its designee to deliver) the original letter of credit to the Security Trustee and shall deliver to the Security Trustee original transfer documentation for such letter of credit to be transferred to the Security Trustee. To the extent the Trigger Event has been cured, the Security Trustee shall return any such letter of credit to the Borrower.
Maintenance Reserve Account. Immediately upon the occurrence of a Maintenance Reserve Event, unless cured, and for so long as the same is continuing, the Borrower shall, and shall cause its Subsidiaries to, (i) pay all Maintenance Rent received by such Person after the occurrence of the Maintenance Reserve Event into the Maintenance Reserve Account, and (ii) where the Maintenance Reserve Event is an event under clause (b) of the definition thereof, cause to be credited to the Maintenance Reserve Account an amount equal to all Maintenance Rent received or deemed to have been received in connection with each Portfolio Aircraft (and not previously utilized in accordance with the relevant Lease) prior to the occurrence of the Maintenance Reserve Event. The balance from time to time in the Maintenance Reserve Account shall be subject to withdrawal only as provided in the Security Agreement.
Maintenance Reserve Account. Borrower shall instruct Depositary to establish in the name of Borrower, and Borrower shall fund and maintain, a maintenance reserve account (the “Maintenance Reserve Account”) in accordance with Tax Investor Documents.
Maintenance Reserve Account. (a) To procure, by enforcing its rights under the Management Agreement, that the Manager pays into the Maintenance Reserve Account such sums as it is obliged to pay under the Management Agreement on the dates on which such payment is to be made.
Maintenance Reserve Account. (a) If at any time the monies on deposit in the Operating Disbursement Account shall not be sufficient to pay Operating Costs, then, after application of all monies on deposit in the Operating Disbursement Account for such purpose, the Borrower shall transfer monies on deposit in the Maintenance Reserve Account in the amount of such deficiency to the Operating Disbursement Account to be applied to pay such deficiency.
Maintenance Reserve Account. (a) On the Closing Date, the Issuer will deposit $640,797 into the Maintenance Reserve Account. Thereafter, on each Payment Date, the Depositary shall withdraw from the Revenue Account, subject to and in accordance with the priorities set forth in Section 4.1, for deposit in the Maintenance Reserve Account, funds necessary to cause the balance in the Maintenance Reserve Account (after accounting for the amount of cash then on deposit in the Maintenance Reserve Account and any amount then available to be paid or drawn under any Maintenance Reserve Letter of Credit) to equal the Minimum Maintenance Reserve Requirement as of such Payment Date, all as set forth in a Disbursement Requisition.
