Common use of Operating Reserve Account Clause in Contracts

Operating Reserve Account. If, as of any Operating Expense Transfer Date, the cash available in the Revenue Account and the Excess Revenue Account is less than the Operating Expenses set forth in the Expense Certificate (or other certificate) setting forth such Operating Expenses to be paid on such 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 Operating 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 Operating Reserve Account may be utilized to pay interest on and principal of the Loans.

Operating Reserve Account. If, as of any Operating Expense Transfer Date, the cash available in the Revenue Account and the Excess Revenue Account is less than the Operating Expenses set forth in the Expense Certificate (or other certificate) setting forth such Operating Expenses to be paid on such date, the Administrative Agent shall transfer to the Person(s) entitled thereto in accordance with Section 8.12(a8.11(a) (to the extent cash is available in the Operating 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 Operating Reserve Account may be utilized to pay interest on and principal of the Loans.