Additional Interest Reserve Account definition

Additional Interest Reserve Account means the Account established pursuant to Section6.1 hereof.
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Additional Interest Reserve Account means the bank account with the account number as specified in the Accounts Agreement and held in the name of the Issuer at the Account Bank, as well as any other bank accounts specified as such by or on behalf of the Issuer in the future in addition to or as substitute for such Additional Interest Reserve Account in accordance with the Accounts Agreement;
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Additional Interest Reserve Account means the Account established pursuant to Section
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Examples of Additional Interest Reserve Account in a sentence

  • In such case, the relevant Subsidised Interest Balances shall be paid by the Seller to the Compartment on the First Purchase Date and thereafter on each relevant Purchase Date (whether or not received by the Seller from the relevant car dealer(s) or distributor(s) of goods and equipment) and credited to the Additional Interest Reserve Account on such Purchase Dates.

  • In order to mitigate the risk of non-payment by the Seller of those amounts to the Compartment, the Seller has agreed to deposit the Subsidised Interest Balance onto the Additional Interest Reserve Account opened in the name of the Compartment and has agreed to pledge such amounts, by way of a cash deposit (remise d'espèces à titre de garantie) pursuant to Articles L.

  • Thereafter, on each Payment Date during the Revolving Period, the Issuer shall further credit the Additional Interest Reserve Account with the applicable Additional Interest Reserve Additional Amounts by debit of the General Collection Account.

  • Future Considerations Retention of records must be incorporated into the statement of requirements for the procurement of any new system.

  • Payments to satisfy amounts due to third parties (other than pursuant to the Transaction Documents) and payable in connection with the Issuer's business may be made from the General Collection Account, the Principal Account and the Interest Account, the General Reserve Account and, if applicable, the Additional Interest Reserve Account, other than on a Payment Date, as applicable and in accordance with the Transaction Documents.

  • Shall be placed in an inconspicuous location and landscaping or screening may be necessary to further screen any structures or installations.

  • Additional Interest Reserve On the Closing Date, the Issuer shall transfer to an account of the Issuer held with the Account Bank (the "Additional Interest Reserve Account") the excess of the proceeds from the issuance of the Notes over the Principal Component Purchase Price to be paid on the Closing Date in an amount equal to the Additional Interest Reserve Initial Amount.

  • Notwithstanding the preceding sentence, amounts in the Additional Interest Reserve Account of the Reserve Fund may not be invested above the yield on the Bonds, unless and until the TCDA receives a written opinion of counsel nationally recognized in the field of municipal bond law to the effect that such investment and/or the failure to comply with such yield restriction will not adversely affect the exemption from federal income tax of the interest on the Bonds.

  • If amounts in the Principal and Interest Account are insufficient for the purposes set forth in paragraph (a) above, the Trustee shall withdraw first, from the Additional Interest Reserve Account and second, from the Reserve Account of the Reserve Fund amounts to cover the amount of such insufficiency.

  • As such, the Additional Interest Reserve Account will be funded with Additional Interest on the outstanding Assessment, securing the PID bonds, resulting in an Additional Interest for the District of $52,540.00.


More Definitions of Additional Interest Reserve Account

Additional Interest Reserve Account means the Account of such name established pursuant to Section 6.1(b) and administered in accordance with the provision of Section 6.7 of this Indenture.
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Related to Additional Interest Reserve Account

  • Interest Reserve Account As defined in Section 3.4(d).

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

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Available Reserve Account Amount means, for any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.4(a)(ix) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • 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.