Shortfall Account. The Company shall maintain a bookkeeping account (referred to herein as the “Shortfall Account”) to which (i) beginning on the day following the DB Plan Freeze (i.e., May 1, 2014) and continuing on the 1st day of January of each year thereafter that Employee is employed by the Company, $ shall be credited, and (ii) Hypothetical Earnings will be credited. As used herein, the term “Hypothetical Earnings” shall mean earnings credited to the Shortfall Account (during the period commencing May 1, 2014, and ending on the last day of the calendar quarter preceding the date of Employee’s separation from service with the Company) on the last day of each calendar quarter at a rate equal to the ten-year United States Treasury Constant Maturity rate as published by the Federal Reserve Bank on the first day of each month during that quarter with the rate so determined used as the applicable rate during the remainder of that month.
Shortfall Account. To facilitate the redemption of the Bonds, the Company has established, and agrees to maintain, an account at the Bank, holding the approximate sum of $328,000.00 (the "Shortfall Account"). The funds in the Shortfall Account represent proceeds of the Bank's collateral, and are subject to the Bank's liens securing the Company's obligations outstanding under the Loan Agreements and the Loan Documents. The Company and the Bank acknowledge and agree that, during the Forbearance Period, (i) the Shortfall Account shall be used to pay the Bank amounts which are or may become due under the Reimbursement Note and/or on account of amounts drawn on the Letter of Credit, and (ii) in the event that any amounts remain in the Shortfall Account after payment in full of amounts which are or may become due under the Reimbursement Note and/or on account of amounts drawn on the Letter of Credit, then, and only then, shall any such excess be remitted to the Company. After the Forbearance Period, the Bank shall be entitled to exercise all rights and remedies regarding the Shortfall Account pursuant to the Loan Agreements, the Loan Documents and under applicable law. In any event, the Company shall remain liable to the Bank for amounts which are or may become due under the Reimbursement Note and/or on account of amounts drawn on the Letter of Credit.
Shortfall Account. ...33 7.4 Contingent Interest Account..........................................................................33 7.5 Tribe Distribution Fund Account......................................................................35 7.6 Authority Investment Account.........................................................................35
