Major Maintenance Reserve Account. The Major Maintenance Reserve Account shall be funded in an amount not to exceed the Major Maintenance Reserve Required Balance in accordance with the terms of [Section 16(m)(ii)] of the TIFIA Loan Agreement and clause “Third” of Section 5.03(b) to fund the Renewal Expenditures. Any amounts on deposit in the Major Maintenance Reserve Account in excess of the Major Maintenance Reserve Required Balance shall be transferred to the Revenue Account to be applied, on the next succeeding Monthly Transfer Date, pursuant to Section 5.03(b).
Major Maintenance Reserve Account. (a) In accordance with Section 5.10(b) of the Collateral Agency Agreement, we request that $[ ] be withdrawn from the Major Maintenance Reserve Account and transferred as set forth in greater detail in Part B of the attached Schedule I for the payment of Renewal Expenditures.
(b) In accordance with Section 5.10(c) of the Collateral Agency Agreement, we request that $[ ] be withdrawn from the Major Maintenance Reserve Account and transferred [to the Distribution Account][as set forth in greater detail in Part B of the attached Schedule I].
Major Maintenance Reserve Account. On each Quarterly Distribution Date, the Borrower shall deposit or cause to be deposited into the Major Maintenance Reserve Account an amount in Dollars and in immediately available funds equal to the lesser of (a) an amount equal to the excess of (i) 100% of the Available Project Cash Flow for the three-month period ended on the immediately preceding Installment Payment Date over (ii) the outstanding principal amount of the Debt Service Letter of Credit Loans as of such Quarterly Distribution Date and (b) the amount by which the Required Major Maintenance Reserve Amount for such Quarterly Distribution Date exceeds the amount then on deposit in the Major Maintenance Reserve Account. Amounts on deposit in the Major Maintenance Reserve Account shall be held and disbursed by the Security Agent in accordance with the Security Deposit Agreement.
Major Maintenance Reserve Account. (a) The Major Maintenance Reserve Account shall be funded (i) from funds transferred by the Collateral Agent from the Construction Account pursuant to Section 3.9 and (ii) on a monthly basis pursuant to Section 3.10. The Company shall specify funding of the Major Maintenance Reserve Account in light of the Annual Budget and taking into account expected costs of major maintenance, including costs under the Maintenance Services Agreement not included as an Operating and Maintenance Cost and major maintenance intervals.
(b) Upon receipt by the Collateral Agent of an Officer's Certificate of the Company detailing the amounts to be paid, the Collateral Agent shall transfer funds in the Major Maintenance Reserve Account to the Company or to whomsoever the Company directs for application to the payment of major maintenance costs and expenses of the Facility that are not otherwise paid as Operating and Maintenance Costs pursuant to Section 3.11.
(c) If amounts in the Revenue Account and the Debt Service Reserve Account (including amounts available under a DSR Letter of Credit) are insufficient to pay Operating and Maintenance Expenses and debt service on all Financing Liabilities in levels FIRST through FOURTH in Section 3.10(b), the Company may, through the delivery of an Officer's Certificate to that effect, direct the Collateral Agent to apply funds in the Major Maintenance Reserve Account to the payment of Operating and Maintenance Expenses and debt service.
Major Maintenance Reserve Account. (a) The Major Maintenance Reserve Account shall be funded (i) from funds transferred by the Collateral Agent from the Construction Account pursuant to Section 3.9 and (ii) on a monthly basis pursuant to Section 3.10. The Company shall specify funding of the Major Maintenance Reserve Account in light of the Annual Budget and taking into account expected costs of major maintenance, including costs under the Maintenance Services Agreement not included as an Operating and Maintenance Cost and major maintenance intervals.
(b) Upon receipt by the Collateral Agent of an Officer's Certificate of the Company detailing the amounts to be paid, the Collateral Agent shall transfer funds in the Major Maintenance Reserve Account to the Company or to whomsoever the Company directs for application to the payment of major maintenance costs and expenses of the Facility that are not otherwise paid as Operating and Maintenance Costs pursuant to Section 3.11.
(c) If Project Revenues are insufficient to pay Operating and Maintenance Expenses and debt service, the Company may, through the delivery of an Officer's Certificate to that effect, direct the Collateral Agent to apply funds in the Major Maintenance Reserve Account to the payment of Operating and Maintenance Expenses and debt service.
Major Maintenance Reserve Account. If the Administrative Agent (acting in consultation with the Independent Engineer, including following any review by the Independent Engineer and the Administrative Agent of any information provided by the Sponsor or available to the Administrative Agent or the Independent Engineer from publicly available sources or otherwise with respect to applicable affected equipment) determines that (A) a Serial Defect exists in Inverters or Batteries, as applicable, used in respect of Projects owned by the Opcos and (B) such Inverters or Batteries, as applicable, are not covered by an Acceptable Inverter Warranty or an Acceptable Battery Warranty, as applicable, then the Administrative Agent (acting in consultation with the Independent Engineer) shall consult with the Borrower to determine or approve the Required Inverter Reserve Amount and the Required Battery Reserve Amount applicable on each subsequent Payment Date. The Administrative Agent (in consultation with the Independent Engineer) shall provide written notice of the Required Inverter Reserve Amount and the Required Battery Reserve Amount applicable on each Payment Date during the term of the Loans to the Borrower and, after consulting with the Borrower, may update such Required Inverter Reserve Amount or Required Battery Reserve Amount prior to any subsequent Payment Date, in each case in accordance with this Section 4.01(d).
Major Maintenance Reserve Account. (a) The Major Maintenance Reserve Account may be funded from funds transferred by the Collateral Agent from the Revenue Account.
(b) Upon receipt by the Collateral Agent of an Officer’s Certificate of the Company detailing the amounts to be paid, the Collateral Agent shall transfer funds in the Major Maintenance Reserve Account to the Company or to whomsoever the Company directs.
Major Maintenance Reserve Account. The Major Maintenance Reserve Account will be funded on the date of the settlement date of the notes offered hereby (the “Closing Date”) from the Note Issuance Proceeds Account in an amount equal to US$3,000,958. The Major Maintenance Reserve Account will be maintained by the Issuer in the United States with the global structured finance unit of the Indenture Trustee. On each Monthly Transfer Date, so long as the Issuer has not received notice of acceleration of the maturity of the notes as the result of an occurrence of an Event of Default, the Issuer will instruct the Indenture Trustee to disburse funds in the Major Maintenance Reserve Account upon the instructions of the Instructor in the following order of priority: • to the Operating Account, to the extent such account would not otherwise be fully funded to meet disbursements due the following month;
Major Maintenance Reserve Account. The Major Maintenance Reserve Account shall be funded with the following: (i) $367,602 from the amount paid on the Closing Date by the Purchaser for the Note(s) under Section 3 of the Note Purchase Agreement, (ii) any amounts deposited in the Major Maintenance Reserve Account from a draw on the Major Maintenance Reserve Letter of Credit, (iii) all amounts transferred to the Major Maintenance Reserve Account from the Revenue Account in accordance with Section 3.03(a)(x), and (iv) all interest and investment income derived from amounts on deposit in the Major Maintenance Reserve Account.
Major Maintenance Reserve Account. In the event that periodic refurbishings or replacements that are neither routine in nature nor reflected in the then effective Operating Budget are required for the Project, the Issuer shall submit to the Trustee and the Independent Engineer a certificate, signed by a Responsible Officer of the Issuer, setting forth the reason why such refurbishing or replacement is required, the amount to be transferred from the Major Maintenance Reserve Account and a detailed description of the refurbishing or replacement to be undertaken with the proceeds of such transfer. Upon approval of such certificate by the Independent Engineer, such approval to be provided within ten days, the Trustee shall from time to time transfer the amount requested to the Operating Account. The Issuer shall apply the funds so transferred solely for the refurbishment or replacement described in such certificate. The Trustee shall, on receipt of a written request executed by the Issuer, withdraw from the Major Maintenance Reserve Account an amount equal to the excess of the Major Maintenance Reserve Available Amount over the Major Maintenance Reserve Minimum Amount, which amount shall be transferred into the Revenue Account to be distributed in accordance with Section 3.03(a) herein.
