Common use of Ramp-Up Account Clause in Contracts

Ramp-Up Account. The Trustee shall, prior to the Closing Date, establish at the Custodian three segregated non-interest bearing securities accounts collectively referred to as the “Ramp-Up Account,” one of which will be designated the “Subordinated Note Ramp-Up Account” into which will be deposited net proceeds of the Subordinated Notes, one of which will be designated the “Interest Ramp-Up Account” and one of which will be designated the “Principal Ramp-Up Account” (the “Principal Ramp-Up Account” together with the “Interest Ramp-Up Account”, the “Secured Note Ramp-Up Account”). The Issuer shall direct the Trustee to deposit the amounts specified in Section 3.1(a)(xi)(A) in the Interest Ramp-Up Account and the Principal Ramp-Up Account, as applicable, on the Closing Date. On behalf of the Issuer, the Collateral Manager will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral Obligations (using amounts in the Interest Ramp-Up Account or the Principal Ramp-Up Account (at the discretion of the Collateral Manager)) and invest in Eligible Investments any amounts not used to purchase such additional Collateral Obligations. At the discretion of the Collateral Manager, funds in the Interest Ramp-Up Account may be designated by written notice to the Trustee and the Collateral Administrator as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Interest Ramp-Up Account to, in the case of funds designated as Interest Proceeds, the Interest Collection Account of the Collection Account and, in the case of funds designated as Principal Proceeds, the Principal Ramp-Up Account or the Principal Collection Account of the Collection Account. On any date on or after the Target Initial Par Condition is satisfied and prior to the Determination Date preceding the second Payment Date, at the discretion of the Collateral Manager, funds in the Principal Ramp-Up Account may be designated by written notice as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Principal Ramp-Up Account to the Interest Collection Account or Principal Collection Account (as the case may be) of the Collection Account; provided that (i) after giving effect to such transfer, the conditions set forth in the definition of Target Initial Par Condition and the Specified Tested Items are satisfied and (ii) not more than 1.0% of the Target Initial Par Amount may be so designated as Interest Proceeds. Prior to the Effective Date, any Principal Proceeds shall be held in the Ramp-Up Account. On the first day after the Effective Date or upon the occurrence of an Event of Default which a Trust Officer of the Trustee has actual knowledge of, the Trustee will deposit any remaining amounts in the Principal Ramp-Up Account into the Principal Collection Account as Principal Proceeds and any remaining amounts in the Interest Ramp-Up Account into the Interest Collection Account as Interest Proceeds or (at the discretion and direction of the Collateral Manager) the Principal Collection Account as Principal Proceeds. Any income earned on amounts deposited in the Ramp-Up Account will be deposited in the Interest Collection Account as Interest Proceeds.

Ramp-Up Account. The Trustee In accordance with this Indenture and the Securities Account Control Agreement, the Issuer shall, prior to the Closing Date, cause the Collateral Trustee to establish at the Custodian three a single, segregated non-interest bearing securities accounts collectively referred trust account held in the name of the Issuer subject to the lien of the Collateral Trustee, for the benefit of the Secured Parties, which shall be designated as the “Ramp-Up Account,” one of , which will shall be designated the “Subordinated Note Ramp-Up Account” into which will be deposited net proceeds of the Subordinated Notes, one of which will be designated the “Interest Ramp-Up Account” and one of which will be designated the “Principal Ramp-Up Account” (the “Principal Ramp-Up Account” together maintained with the “Interest Ramp-Up Account”, Custodian in accordance with the “Secured Note Ramp-Up Account”)Securities Account Control Agreement. The Issuer shall direct the Collateral Trustee to deposit U.S.$72,032,688.89 to the amounts specified in Section 3.1(a)(xi)(A) in the Interest Ramp-Up Account and the Principal Ramp-Up Account, as applicable, on the Closing Date. On behalf In connection with any purchase of the Issueran additional Collateral Obligation, the Collateral Manager Trustee will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral Obligations (using apply amounts in the Interest Ramp-Up Account or the Principal Ramp-Up Account (at the discretion of the Collateral Manager)) and invest in Eligible Investments any amounts not used to purchase such additional Collateral Obligations. At the discretion of the Collateral Manager, funds in the Interest Ramp-Up Account may be designated by written notice to the Trustee and the Collateral Administrator as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Interest Ramp-Up Account to, in the case of funds designated as Interest Proceeds, the Interest Collection Account of the Collection Account and, in the case of funds designated as Principal Proceeds, the Principal Ramp-Up Account or the Principal Collection Account of the Collection Account. On any date on or after the Target Initial Par Condition is satisfied and prior to the Determination Date preceding the second Payment Date, at the discretion of the Collateral Manager, funds in the Principal Ramp-Up Account may be designated by written notice as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Principal Ramp-Up Account to the Interest Collection Account or Principal Collection Account (as the case may be) of the Collection Account; provided that (i) after giving effect to such transfer, the conditions set forth in the definition of Target Initial Par Condition and the Specified Tested Items are satisfied and (ii) not more than 1.0% of the Target Initial Par Amount may be so designated as Interest Proceeds. Prior to the Effective Date, any Principal Proceeds shall be held in the Ramp-Up AccountAccount as provided by Section 7.18(b). On the first day after the Effective Date or upon the occurrence of an Event of Default which a Trust Officer of the Trustee has actual knowledge of(and excluding any proceeds that will be used to settle binding commitments entered into prior to such date), the Collateral Trustee will deposit any remaining amounts in the Principal Ramp-Up Account into the Principal Collection Account Subaccount as Principal Proceeds Proceeds. After the Effective Date and on or prior to the Determination Date related to the second Payment Date after the Closing Date (so long as the Target Initial Par Condition has been satisfied, and with respect to any distribution in connection with clause (b) below, is satisfied on a pro forma basis after giving effect to such distribution, and a Special Redemption was not required and excluding any proceeds that will be used to settle binding commitments entered into prior to that date), (a) at the direction of the Collateral Manager the Collateral Trustee will deposit any remaining amounts in the Interest Ramp-Up Account into the Interest Principal Collection Subaccount as Principal Proceeds (except as provided in clause (b) below) and (b) the Collateral Manager may designate any remaining amounts in the Ramp-Up Account as Interest Proceeds or to be deposited into the Interest Collection Subaccount (at amounts so designated as Interest Proceeds, "Designated Unused Proceeds"), so long as, after giving effect to such designation, (i) the discretion aggregate amount of Designated Principal Proceeds and direction Designated Unused Proceeds does not exceed 1.0% of the Collateral ManagerTarget Initial Par Amount, (ii) the Adjusted Collateral Principal Collection Account as Principal ProceedsAmount is greater than or equal to the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the "Effective Date Interest Deposit Restriction"). Any income earned on amounts deposited in the Ramp-Up Account will be deposited in the Interest Collection Account Subaccount as Interest Proceeds.

Ramp-Up Account. The Before the Closing Date, the Trustee shallwill establish at the Custodian a single, segregated non-interest bearing trust account which will be designated as the "Ramp-Up Account." On the Closing Date, the net proceeds of the issuance of the Notes remaining after payment of fees, expenses and allocations to other accounts as described herein, will be deposited into the Ramp-Up Account. Of the proceeds of the issuance of the Notes which are not applied to pay for the purchase of Collateral Obligations purchased by the Issuer on or before the Closing Date (including, without limitation, repayment of any amounts borrowed by the Issuer in connection with the purchase of Collateral Obligations prior to the Closing Date) U.S.$183,842,954.77 representing proceeds of the issuance of the Notes will be deposited in the Ramp-Up Account on the Closing Date. In addition, establish at Principal Proceeds received by the Custodian three segregated non-interest bearing securities accounts collectively referred Issuer prior to as the “Effective Date shall be deposited into the Ramp-Up Account,” one of which will be designated the “Subordinated Note Ramp-Up Account” into which will be deposited net proceeds of the Subordinated Notes, one of which will be designated the “Interest Ramp-Up Account” and one of which will be designated the “Principal Ramp-Up Account” (the “Principal Ramp-Up Account” together with the “Interest Ramp-Up Account”, the “Secured Note Ramp-Up Account”). The Issuer shall direct the Trustee to deposit the amounts specified in Section 3.1(a)(xi)(A) in the Interest Ramp-Up Account and the Principal Ramp-Up Account, as applicable, on the Closing Date. On behalf of the Issuer, the Collateral Manager will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral Obligations (using amounts in the Interest Ramp-Up Account or the Principal Ramp-Up Account (at the discretion of the Collateral Manager)) and invest in Eligible Investments any amounts not used to purchase such additional Collateral Obligations. At Any purchase of a Collateral Obligation that will settle after the discretion of the Collateral Manager, funds in the Interest Ramp-Up Account may Closing Date shall be designated by written notice to the Trustee and the Collateral Administrator as either Interest Proceeds or settled first with Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Interest Ramp-Up Account to, on deposit in the case of funds designated as Interest Proceeds, the Interest Collection Account of the Collection Account and, only if sufficient amounts are not available in the case of funds designated as Principal Proceeds, the Principal Ramp-Up Account or the Principal Collection Account of the Collection Account. On any date , with remaining amounts on or after the Target Initial Par Condition is satisfied and prior to the Determination Date preceding the second Payment Date, at the discretion of the Collateral Manager, funds in the Principal Ramp-Up Account may be designated by written notice as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Principal Ramp-Up Account to the Interest Collection Account or Principal Collection Account (as the case may be) of the Collection Account; provided that (i) after giving effect to such transfer, the conditions set forth in the definition of Target Initial Par Condition and the Specified Tested Items are satisfied and (ii) not more than 1.0% of the Target Initial Par Amount may be so designated as Interest Proceeds. Prior to the Effective Date, any Principal Proceeds shall be held deposit in the Ramp-Up Account. On the first day after the Effective Date or upon Upon the occurrence of an Event of Default which a Trust Officer of the Trustee has actual knowledge ofDefault, the Trustee will deposit any remaining amounts in the Ramp-Up Account (excluding any proceeds that will be used to settle binding commitments entered into prior to that date) into the Collection Account as Principal Proceeds. On the first Business Day after Effective Date Ratings Confirmation has been obtained, the Trustee will, at the direction of the Collateral Manager, deposit any remaining amounts in the principal subaccount of the Ramp-Up Account into the Principal Collection Account as Principal Proceeds Proceeds, and any remaining amounts in the Interest interest subaccount of the Ramp-Up Account shall be deposited into the Interest Collection Account as Interest Proceeds or (Principal Proceeds, at the discretion and direction of the Collateral Manager) the Principal Collection Account as Principal Proceeds. Any income earned on amounts deposited in the Ramp-Up Account will be deposited in the Interest Collection Account as Interest Proceeds.

Ramp-Up Account. The In accordance with this Indenture and the Issuer Securities Account Control Agreement, the Trustee shall, prior to the Closing Date, establish at with the Custodian three a single, segregated non-interest bearing securities accounts collectively referred account held in the name of “ABPCI Direct Lending Fund CLO XIII Ltd” which account shall be subject to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties and shall be designated as the “Ramp-Up Account,” one of which will ”, and shall be designated the “Subordinated Note Ramp-Up Account” into which will be deposited net proceeds of the Subordinated Notes, one of which will be designated the “Interest Ramp-Up Account” and one of which will be designated the “Principal Ramp-Up Account” (the “Principal Ramp-Up Account” together maintained with the “Interest Ramp-Up Account”, Custodian in accordance with the “Secured Note Ramp-Up Account”)Issuer Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit the amounts amount specified in Section 3.1(a)(xi)(A3.1(a)(xii)(B) in into the Interest Ramp-Up Account and the Principal Ramp-Up Account, as applicable, on the Closing Date. On behalf In connection with any acquisition of the Issueran additional Collateral Obligation, the Collateral Manager will direct the Trustee to, from time to time prior to the Effective Date, purchase additional Collateral Obligations (using shall apply amounts held in the Interest Ramp-Up Account or as provided by Section 7.18(a). Upon the Principal occurrence of an Event of Default (and excluding any proceeds that shall be used to settle binding commitments entered into prior to that date), the Trustee shall deposit any remaining amounts in the Ramp-Up Account into the Reinvesting Collection Account as Principal Proceeds. On the first Determination Date after the Effective Date (and excluding any proceeds that will be used to settle binding commitments entered into prior to that date) on which no Rating Confirmation Failure has occurred and is continuing, (a) at the discretion direction of the Collateral Manager)) and invest in Eligible Investments Manager the Trustee shall deposit any amounts not used to purchase such additional Collateral Obligations. At the discretion of the Collateral Manager, funds remaining in the Interest Ramp-Up Account may be designated by written notice to into the Trustee Reinvesting Collection Account as Principal Proceeds (except as provided in clause (b) below) and the Collateral Administrator as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Interest Ramp-Up Account to, shall be closed and (b) the Collateral Manager may designate any remaining amounts in the case of funds Ramp-Up Account as Interest Proceeds to be deposited into the Collection Account (amounts so designated as Interest Proceeds, the Interest Collection Account of the Collection Account and“Designated Unused Proceeds”), in the case of funds designated as Principal Proceedsso long as, the Principal Ramp-Up Account or the Principal Collection Account of the Collection Account. On any date on or after the Target Initial Par Condition is satisfied and prior to the Determination Date preceding the second Payment Date, at the discretion of the Collateral Manager, funds in the Principal Ramp-Up Account may be designated by written notice as either Interest Proceeds or Principal Proceeds by the Collateral Manager to the Trustee and shall be transferred from the Principal Ramp-Up Account to the Interest Collection Account or Principal Collection Account (as the case may be) of the Collection Account; provided that (i) after giving effect to such transferdesignation, (i) the conditions set forth in the definition aggregate amount of Target Initial Par Condition Designated Principal Proceeds and the Specified Tested Items are satisfied and (ii) Designated Unused Proceeds does not more than exceed 1.0% of the Target Initial Par Amount may be so designated as Interest Proceeds. Prior to the Effective DateAmount, any Principal Proceeds shall be held in the Ramp-Up Account. On the first day after the Effective Date or upon the occurrence of an Event of Default which a Trust Officer of the Trustee has actual knowledge of, the Trustee will deposit any remaining amounts in the Principal Ramp-Up Account into the Principal Collection Account as Principal Proceeds and any remaining amounts in the Interest Ramp-Up Account into the Interest Collection Account as Interest Proceeds or (at the discretion and direction of the Collateral Managerii) the Principal Collection Account as Principal ProceedsCollateralization Amount is greater than the Target Initial Par Amount and (iii) each Overcollateralization Ratio Test is satisfied (such requirements, the “Effective Date Interest Deposit Restrictions”). Any income earned on amounts deposited in the Ramp-Up Account will shall be deposited in the Interest Reinvesting Collection Account as Interest Proceeds.