Restricted Cash Account. (a) The Issuer shall establish on or prior to the Restricted Cash Effective Date, and shall thereafter maintain so long as any Outstanding Obligation remains unpaid, an Eligible Account in the name of the Issuer with the Indenture Trustee which shall be designated as the Restricted Cash Account, which account shall be held by the Indenture Trustee for the benefit of the Noteholders of all Series of Notes and each Series Enhancer pursuant to the terms of this Indenture and the related Supplements. On the Restricted Cash Effective Date, the Issuer will deposit (or cause to be deposited) into the Restricted Cash Account an amount equal to the Restricted Cash Amount, and amounts thereafter shall be deposited in the Restricted Cash Account in accordance with Section 302 hereof. The Restricted Cash Account shall only be relocated to another financial institution in accordance with the express provisions of Section 303(d) hereof. Any and all monies on deposit in the Restricted Cash Account shall be invested in Eligible Investments in accordance with this Indenture and shall be distributed in accordance with this Section 306.
(b) On each Determination Date following the Restricted Cash Effective Date, the Indenture Trustee shall, in accordance with the Manager Report (or, in the absence of any Manager Report, in accordance with written instructions from the Administrative Agent), withdraw from the Restricted Cash Account and deposit into the Series Account for each Series an amount equal to the Deficiency Amount (determined after giving effect to all other deposits to the Series Account for such Series (other than funds transferred from the Restricted Cash Account)) on or prior to such Determination Date. Amounts transferred to the Series Account pursuant to the provisions of this Section 306(b) may only be used to pay amounts specified in the definition of “Permitted Payment Date Withdrawals”. If the amount on deposit in the Restricted Cash Account on a Determination Date is not sufficient to pay in full the aggregate Permitted Payment Date Withdrawals referred to in this Section 306(b), then the amount of funds then available in the Restricted Cash Account will be allocated among the various Series on a pro rata basis in proportion to the amount of their respective Permitted Payment Date Withdrawals.
(c) On each Payment Date following the Restricted Cash Effective Date, the Indenture Trustee shall, in accordance with the Manager Report (or, in the absence of any...
Restricted Cash Account. Bionova and Savia agree that Bionova will deposit $300,000.00 into a restricted cash account for a period not to exceed one (1) year from the date hereof, which funds will be used exclusively to satisfy any third-party claims against any of the individuals who are covered by the directors' and officers' liability insurance policy provided for directors and officers of Bionova and its Subsidiaries as of the date hereof and any litigation expenses directly related to such claims; provided that such funds shall not be released from such account and so disbursed to the extent that any such individual receives the benefit of any proceeds under such directors' and officers' liability policy to discharge any portion of such claim.
Restricted Cash Account. (a) On or prior to Effective Date, the Issuer shall establish the Restricted Cash Account with, and be in the name of the Agent for the benefit of the Noteholder; such account to be entitled "Cronos Finance (Bermuda)
Restricted Cash Account. As a condition of Closing, the Company will place $2,000,000 in a restricted account at a bank reasonably acceptable to the Purchaser, and maintain such amount in the restricted account for as long as the Purchaser shall hold any Preferred Shares. The account shall be pledged to Purchaser as security for the performance of the Parent's obligations hereunder.
Restricted Cash Account. The Issuer shall establish on the Effective Date and maintain so long as any Series 1997-1 Note is Outstanding an Eligible Account with the Indenture Trustee which shall be designated as the Series 1997-1 Restricted Cash Account, which account is hereby pledged to the Indenture Trustee pursuant to the Indenture and this Supplement. On the date on which the initial Loan is made, the Issuer will deposit the Series 1997-1 Restricted Cash Amount in the Series 1997-1 Restricted Cash Account from the proceeds of issuance of the Series 1997-1 Notes and thereafter amounts shall be deposited in the Series 1997-1 Restricted Cash Account in accordance with Section 3.2 of this Supplement. Any and all moneys remitted by the Indenture Trustee to the Series 1997-1 Restricted Cash Account shall be invested in Eligible Investments in accordance with the Indenture and shall be distributed in accordance with this Section 3.4.
Restricted Cash Account. (a) The Borrower has established and shall maintain the Restricted Cash Account. The Restricted Cash Account has been established in the name of the Borrower, for the benefit of the Administrative Agent (on behalf of the Secured Parties), with Xxxxx Fargo Bank, National Association. The Restricted Cash Account shall at all times be under the “control” (as defined in the UCC) of the Administrative Agent for the benefit of the Secured Parties.
(b) On or before the Closing Date, the Borrower will deposit, or cause to be deposited, into the Restricted Cash Account a sufficient amount of funds such that, after giving effect to such deposit, the amount of funds on deposit therein shall be equal to the Restricted Cash Target Balance in effect on the Closing Date, and thereafter amounts shall be deposited in the Restricted Cash Account in accordance with Section 4.1. Any and all moneys on deposit in the Restricted Cash Account shall be invested in Eligible Investments in accordance with Section 4.2 and shall be distributed in accordance with this Section 4.3.
(c) On each Payment Date, the Borrower shall, in accordance with the Manager Report or, absent a Manager Report, pursuant to written instructions from the Administrative Agent (acting at the direction of the Required Lenders), withdraw from the Restricted Cash Account and remit directly to each Lender its pro rata share of an amount equal to the excess, if any, of (A) the Permitted Payment Date Withdrawals over (B) the amounts then on deposit in the Trust Account (determined after giving effect to all other deposits to and withdrawals from the Trust Account) available to make such payments. Such amounts may only be used to pay amounts specified in the definition of “Permitted Payment Date Withdrawals”.
(d) On each Payment Date, the Borrower shall, in accordance with the Manager Report, or absent a Manager Report, pursuant to written instructions from the Administrative Agent (acting at the direction of the Required Lenders), withdraw from the Restricted Cash Account and deposit in the Trust Account for distribution in accordance with Section 4.1 of this Term Loan Agreement, the excess, if any, of (A) amounts then on deposit in the Restricted Cash Account (after giving effect to any withdrawals therefrom on such Payment Date) over (B) the Restricted Cash Target Balance. On the Maturity Date, any remaining funds in the Restricted Cash Account shall be deposited in the Trust Account and distributed in accordance...
Restricted Cash Account. (a) The Issuer has established and maintains an Eligible Account which shall has been designated as the restricted cash account (the “Restricted Cash Account”). On the Restatement Date, all amounts then remaining in the Restricted Cash Account shall be deposited into the Trust Account and applied to the payment of principal of the Class A Notes, and thereupon the Restricted Cash Account shall be closed.
Restricted Cash Account. The Indenture Trustee shall establish and maintain in the name of the Indenture Trustee an Eligible Account in the name of the Indenture Trustee with the Corporate Trust Office which shall be designated the restricted cash account (the “Restricted Cash Account”) for all Series and which shall be held by the Indenture Trustee pursuant to this Indenture and the related Supplements. Any and all moneys remitted by the Issuer, or Manager on its behalf, to the Restricted Cash Account from the Trust Account, together with any Eligible Investments in which such moneys are or will be invested or reinvested, shall be held in the Restricted Cash Account for all Series. On the issuance date of any Series, the Issuer will deposit, or cause to be deposited, into the Restricted Cash Account sufficient amount of funds such that, after giving effect to such deposit, the amount of funds on deposit therein shall be equal to the Restricted Cash Amount, and thereafter amounts shall be deposited in the Restricted Cash Account in accordance with Section 302. Any and all moneys remitted by the Indenture Trustee to the Restricted Cash Account shall be invested in Eligible Investments in accordance with this Indenture and shall be distributed in accordance with this Section 306.
Restricted Cash Account. The bank account designated as such that has been established by the Borrower in accordance with the provisions of Section 4.3 hereof.
Restricted Cash Account. At Closing, the Company will place $3,833,500 in a restricted account at Northfork Bank, and, subject to the terms and conditions of the Restricted Account Side Letter, maintain such amount in the restricted account for as long as the Purchaser shall hold the Note. The account shall be pledged to Purchaser as security for the performance of the Company’s obligations.
