Examples of Borrower Collateral Account in a sentence
Custodian has established the Borrower Collateral Accounts and the Investment Account (each, including any additional Borrower Collateral Account, a “Collateral Account”) pursuant to the Custodian Agreement.
The following charges and fees are included under the Finance Charge of the Truth-in- Lending Disclosure above: Interest $119.70 Finance Charge $119.70 DESCRIPTION DOLLAR AMOUNT Amount Deposited to Borrower Collateral Account $3,000.00 Prepaid Finance Charges 0.00 Total Amount Financed $3,000.00 INTEREST.
Prior to the occurrence of a Default or a Trigger Event, the Administrative Agent shall release the amounts received in the Borrower Collateral Account to RIHC, or otherwise as instructed in writing by Borrower, following a Beneficial Owner’s request and the Administrative Agent’s receipt of a certificate from the Financial Officer of the Administrative Borrower certifying that no Default or Trigger Event has occurred.
After a Default or a Trigger Event and during any continuance thereof, no Restricted Payments may be made by Borrower until the amount on deposit in the Borrower Collateral Account equals 102% of the Obligations then due.