Sinking Fund Account. Prior to the funding of the Loan on the Closing Date, the Borrowers agree to establish and hereby grants the Lender a security interest in a restricted account (the “Sinking Fund Account”) held by the Lender to provide funds to reimburse the Lender for amounts outstanding under the Loan. The Sinking Fund Account established with the Lender shall be invested in such a manner as shall be mutually agreed upon among the Lender and the Borrowers; and, in the event there shall be no agreement, then as shall be determined by the Lender in its sole discretion. The Lender shall have sole access to the Sinking Fund Account, provided, however, that the Lender may use such funds solely to repay amounts owed under the Loan upon maturity of the Loan and to apply such funds to other Liabilities as and when the same become due and payable. Any and all interest on the Sinking Fund Account shall be added to the Sinking Fund Account and shall be property of the Borrowers subject to the security interests granted herein and, upon repayment in full of the Liabilities and the termination of this Agreement, such interest shall be paid to the Borrowers; provided, however, that at any time an Event of Default has occurred and continuing, the Borrowers acknowledge and agree that such interest may be applied to the Liabilities by the Lender. The failure of Borrowers to comply with the provisions of this paragraph shall be considered an Event of Default and immediately entitle the Lender to any of the remedies provided in this Agreement. Nothing in this Section shall mitigate, limit or otherwise affect any of the Borrower's obligations under this Agreement.
Sinking Fund Account. 47 3.9 Other Provisions Relating to Loan Notes.....................48 ARTICLE IV LETTERS OF CREDIT
Sinking Fund Account. Upon the receipt by any Restricted Subsidiary of an FXCM Group Distribution, Holdings will deposit (and such Restricted Subsidiary shall transfer such FXCM Group Distribution to Holdings to enable Holdings to deposit) into the Sinking Fund Account an amount equal to the excess of (i) the amount of all cash and Cash Equivalents of the Company and its Restricted Subsidiaries, after giving effect to the receipt of such FXCM Group Distribution (excluding amounts on deposit in the Sinking Fund Account) over (ii) the Minimum Cash Reserve Amount. Funds on deposit in the Sinking Fund Account may be used solely (x) to repurchase Holdings Notes in connection with the repurchase of Notes by the Company pursuant to Section 4.14 and Section 4.17 or, if Holdings is the Offeror under Section 4.17, to purchase Notes pursuant to Section 4.17 and (y) to pay interest on the Holdings Notes to the extent Holdings and its Restricted Subsidiaries do not have cash on hand in excess of the Minimum Cash Reserve Amount less the amount of Cash Interest due on the Notes on the next Interest Payment Date (without giving effect to any election to pay PIK Interest on such date) that is sufficient to pay in full in cash all of the interest due on the applicable Interest Payment Date.
Sinking Fund Account. The Trustee shall establish and hold within the Principal Fund a 2012 Sinking Fund Account, which the City hereby covenants and agrees to cause to be maintained, for payment of the principal of the 2012A Bonds. The Trustee, on or before March 1 of each year in which sinking fund payments are due on the 2012A Bonds, shall deposit in the 2012 Sinking Fund Account from the Principal Fund moneys in an amount which shall be sufficient to call and redeem or to pay at maturity, as the case may be, all such 2012A Bonds (including redemption premiums thereon, if any, but excluding accrued interest thereon, which is payable from the Interest Fund). The Trustee shall apply moneys in the 2012 Sinking Fund Account to the payment of principal of the 2012A Bonds and to the payment of mandatory sinking fund payments on 2012A Bonds when due, pursuant to the payment schedule contained in Section A-16.05 hereof. All moneys in the 2012 Sinking Fund Account may be used and withdrawn by the Trustee, at the written direction of the City, at any time for the purchase of 2012A Bonds at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Fund) as the City may in its discretion determine, but not to exceed the par value thereof (excluding accrued interest), and all 2012A Bonds so purchased by the Trustee shall be cancelled and delivered to the City. In the event of an optional redemption pursuant to Section A-16.05(a), the City shall provide the Trustee with a revised sinking fund schedule giving effect to the optional redemption so completed.
Sinking Fund Account. (a) Each time a Policy with respect to which a Debtor NIRAN Collateral Specified Interest has been credited to the NIRAN Collateral Securities Account matures and maturity proceeds have been deposited into the NIRAN Collateral Deposit Account, the Issuer shall direct the Depository to invest and disburse such maturity proceeds as set forth in the Accounts Agreement and the Security Agreement, including making transfers into the NIRAN Sinking Fund Account of cash in an amount equal to the Applicable Percentage of such maturity proceeds, or such lesser amount as may be determined in accordance with the Security Agreement, until such time as the aggregate amount deposited into the NIRAN Sinking Fund Account pursuant to this Section 11.05(a) during an Annual Period shall equal the Annual Sinking Fund Addition for such Annual Period.
Sinking Fund Account. (a) The Borrower shall establish and maintain an interest-bearing deposit account with the Bank into which the Borrower shall deposit with the Bank all the sums required to be deposited pursuant to Section 2.02 (a)(i) through (iii) (the "Sinking Fund Account").
Sinking Fund Account. (a) All amounts required to be deposited by the Borrowers as cash collateral pursuant to SECTION 2.10(b)(xiii) of the Credit Agreement or any similar provision of any Finance Document shall be deposited (the aggregate amounts deposited by virtue of this sentence being the "AGGREGATE DEPOSITS") in a Securities Account (the "SINKING FUND ACCOUNT") established and maintained by the Parent Borrower at the offices of such bank or other financial institution as the Parent Borrower and the U.S. Collateral Agent may agree, over which the U.S. Collateral Agent shall have a fully perfected first priority security interest, including the exclusive right of withdrawal for application in accordance with this SECTION 2.07. Upon the establishment of such account, the U.S. Credit Party so required to make such deposit shall notify the U.S. Collateral Agent of the location, account name and account number of such account and shall deliver to the U.S. Collateral Agent an Account Control Agreement with respect to such Sinking Fund Account duly executed by the Parent Borrower and the Securities Intermediary maintaining such Sinking Fund Account. All right, title and interest in and to the cash amounts on deposit from time to time in the Sinking Account, together with any Liquid Investments from time to time deposited in or credited to the Sinking Account, shall constitute part of the Collateral hereunder and shall not constitute payment of the Finance Obligations until applied thereto as hereinafter provided.
Sinking Fund Account. If on any Reduction Date the aggregate credit outstanding under all Letters exceeds the amount of the Credit Facility at such time (assuming the reduction of the Credit Facility by the applicable Scheduled Reduction 76 - 00 - Xxxxxx), Xxxxxxx Xxxxxx xxx on such Reduction Date deposit in pledge in the Sinking Fund Account an amount equal to such excess. If on the date of any mandatory prepayment of outstanding credit under the Credit Facility pursuant to Section 9.04, the aggregate amount of credit outstanding under all Letters exceeds the amount of the Credit Facility at such time (assuming the reduction of the Credit Facility by the amount of such mandatory prepayment), Kinross Canada may on the required date of such mandatory prepayment deposit in pledge in the Sinking Fund Account an amount equal to such excess.
Sinking Fund Account. OPERATING ACCOUNT; MASTER COLLECTIONS ACCOUNT. (a) Prior to the initial authentication and delivery of any Securities, the Company shall open, at one or more depository institutions (which may be the Trustee) (the "Custodians"), a trust account denominated "Sinking Fund Account--Trust Management, Inc., as trustee in respect of the 11% Redeemable Secured Notes Due June 30, 2002," (the "Sinking Fund Account"). The Sinking Fund Account shall be an Eligible Account. Deposits to and withdrawals from the Sinking Fund Account shall be made solely in accordance herewith, and the funds in the Sinking Fund Account shall not be commingled with any other moneys, except as expressly provided for herein. The Company shall also open a commercial bank account in its own name for use in holding the Company's funds and in 22 paying the Company's expenditures (the "Operating Account"). The Sinking Fund Account, the Master Collections Account and the Operating Account are sometimes collectively referred to as the "Accounts" or individually as an "Account." The Company shall give the Trustee at least five Business Days' written notice of any change in the location of any Operating Account and any related account identification information.
Sinking Fund Account. ... 35 6.06 Moneys To Be Held for All Owners of Bonds, with Certain Exceptions .................................... 35 6.07
