Use of the Reserve Fund Sample Clauses

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Use of the Reserve Fund 

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Related to Use of the Reserve Fund

• Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

• THE PROPERTY AND THE RESERVE PRICE 1.1 The property, the particulars of which are as described in the Proclamation of Sale (`the Property’) is put up for sale by way of public auction (`the Auction Sale’) subject to the reserve price as stated in the Proclamation of Sale (`the Reserve Price’).