Additional Reserve Account definition

Additional Reserve Account means the interest bearing EUR account in the name of the Custodian opened by the Custodian on behalf of the Issuer with the Deposit Bank, on terms that interest shall accrue daily on the Additional Reserve Account Balance at a rate equal to an overnight rate for deposits in EUR, determined by the Calculation Agent acting in its sole discretion on a daily basis, into which any Additional Reserve Amount and the Initial Reserve Amount shall be deposited. Such daily interest shall be added to the Additional Reserve Account Balance at the close of business (London time) on each date.
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Additional Reserve Account shall have the meaning set forth in Section 7.4.1 hereof.
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Additional Reserve Account shall have the meaning assigned to such term in Section 3.16 of the Trust Agreement.
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Examples of Additional Reserve Account in a sentence

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  • With reference to each Transaction, pursuant to the Programme Cash Allocation, Management and Payments Agreement and the relevant Series CAMPA, the Issuer will establish the relevant Additional Reserve Account with the Transaction Bank.

  • Funds flowing into this account are normally derived from a combination of deposits from the Capitalized Interest Fund, the Additional Reserve Account and from loan repayments.

  • Non-rebatable interest earnings not required for deposits to the Loan Repayment fund flow to the Master SRF Fund and may be used in subsequent years as a source of capital for making direct loans and/or Additional Reserve Account (ARA) funding.

  • Funds flowing into this account are normally derived from a combination of deposits from the Capitalized Interest Fund, the Additional Reserve Account and from borrowers’ loan repayments.

  • Disbursements to Loan Recipients of the Bond Pool Project Fund for eligible incurred costs may justify draws from the Federal Capitalization Grant, if grant funds are pledged to the Additional Reserve Account.

  • In this situation, draws from the ACH are calculated on the basis of a “Leveraging Ratio.” The Leveraging Ratio is calculated by dividing the amount that will be disbursed to the Bond Pool Loan Recipients by the portion of the ACH required for security in the Additional Reserve Account.

  • Since capitalization grant funds may be pledged to the Additional Reserve Account (ARA), disbursements to Loan Recipients from the Bond Pool Project Fund can trigger draws from the Federal Capitalization Grant.

  • In that case, draws of federal grant funds from the ACH are calculated on the basis of a “Leveraging Ratio.” The Leveraging Ratio is determined by dividing the amount that will be disbursed to the Bond Pool Loan Recipients by the portion of the ACH required for security in the Additional Reserve Account.

  • Funds in the ARA (typically non-rebatable interest earnings) that are not required for deposit to the Loan Repayment fund flow to the Master SRF Fund and may be used in subsequent years as a source of capital for making direct loans and/or Additional Reserve Account (ARA) funding.


More Definitions of Additional Reserve Account

Additional Reserve Account has the meaning specified in Section 2.2.
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Additional Reserve Account shall have the meaning given to it in the Depository Agreement.
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Additional Reserve Account has the meaning specified in Section 4.11(3). Table of Contents
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Related to Additional Reserve Account

  • Initial Reserve Account Deposit means $3,250,000.

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

  • 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 [*];

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

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

  • 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.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2005-3". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • 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.

  • 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.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.