Accumulation Reserve Account Surplus definition

Accumulation Reserve Account Surplus means, as of any date of determination, the amount, if any, by which the amount on deposit in the Accumulation Reserve Account exceeds the Required Accumulation Reserve Account Amount.
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Accumulation Reserve Account Surplus means, as of any Transfer Date following the Accumulation Reserve Account Funding Date, the amount, if any, by which the Accumulation Reserve Account Available Amount exceeds the Accumulation Reserve Account Required Amount, after giving effect to all deposits to and withdrawals from the Accumulation Reserve Account to occur on or prior to such Transfer Date.
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Accumulation Reserve Account Surplus means, as of any date of determination, the amount, if any, by which the amount on deposit in the Accumulation Reserve Account exceeds the Required Accumulation Reserve Account Amount. Back to Contents
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Examples of Accumulation Reserve Account Surplus in a sentence

  • In the event that the Accumulation Reserve Account Surplus on any Payment Date, after giving effect to all deposits to and withdrawals from the Accumulation Reserve Account with respect to such Payment Date, is greater than zero, the Indenture Trustee (acting in accordance with the instructions of the Servicer) shall withdraw from the Accumulation Reserve Account, and pay to the holder of the Transferor Indebtedness an amount equal to such Accumulation Reserve Account Surplus.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2018-1 Notes and acceleration of such Series 2018-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2018-1 Notes before such amounts are paid to the holders of the Transferor Indebtedness.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2017-1 Notes and acceleration of such Series 2017-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2017-1 Notes before such amounts are paid to the holders of the Transferor Interest.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2023-2 Notes and acceleration of such Series 2023-2 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2023-2 Notes before such amounts are paid to the holders of the Transferor Interest.

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  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2016-1 Notes and acceleration of such Series 2016-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2016-1 Notes before such amounts are paid to the holders of the Transferor Interest.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2017-2 Notes and acceleration of such Series 2017-2 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2017-2 Notes before such amounts are paid to the holders of the Transferor Interest.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2019-2 Notes and acceleration of such Series 2019-2 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2019-2 Notes before such amounts are paid to the holders of the Transferor Indebtedness.

  • All business records, such as expense accounts, vouchers, invoices, payroll, employment records, and reports to government, stockholders and other agencies, must be prepared with required care and honesty.

  • Notwithstanding the foregoing, following an Event of Default with respect to the Series 2015-1 Notes and acceleration of such Series 2015-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2015-1 Notes before such amounts are paid to the holders of the Transferor Interest.

Related to Accumulation Reserve Account Surplus

  • Reserve Account Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Interest Reserve Account” and which shall be an Eligible Account.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Reserve Accounts means, collectively, the Tax and Insurance Escrow Account, the Replacement Reserve Account, the Required Repair Account, the Rollover Reserve Account, the Occupancy Reserve Account, the Excess Cash Reserve Account, the Net Proceeds Account, the Payment Reserve Account, the TI/LC Reserve Account and any other escrow or reserve account established pursuant to the Loan Documents.