Borrower Purchase Account definition

Borrower Purchase Account means the account by that name within the Purchase Fund established pursuant to Section 4.12.
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Borrower Purchase Account means the special trust account so designated and established by the Trustee pursuant to Section 4.04.
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Borrower Purchase Account means each account with that name established within the Bond Purchase Fund pursuant to Section 505(d).
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Examples of Borrower Purchase Account in a sentence

  • To the extent that moneys on deposit in the Remarketing Proceeds Purchase Account or the Letter of Credit Purchase Account established under the Indenture are insufficient to pay the full purchase price of Bonds payable pursuant to Sections 4.01 and 4.02 of the Indenture on the applicable Purchase Date, the Borrower shall also pay to the Trustee as Purchase Payments for deposit in the Borrower Purchase Account established under the Indenture amounts sufficient to cover the shortfalls.

  • Moneys in the Liquidity Facility Deposit Account, the Remarketing Proceeds Account and the Borrower Purchase Account shall not be commingled with other funds held by the Tender Agent and shall remain uninvested.

  • The Tender Agent shall deposit all moneys delivered to it hereunder from a payment by or on behalf of the Borrower for the purchase of Bonds into the Borrower Purchase Account and shall hold all such moneys in trust for the exclusive benefit of the Borrower until the Bonds purchased with such moneys shall have been delivered to or for the account of the Borrower and, after such delivery, the Tender Agent shall hold such funds exclusively for the benefit of the Bondholders tendering such Bonds.

  • Any amounts deposited in the Borrower Purchase Account and not needed with respect to any Purchase Date or Mandatory Purchase Date for the payment of the Purchase Price of any Bonds shall be immediately returned to the Borrower.

  • The Bond Purchase Fund shall consist of three sub-accounts to be designated respectively the "Remarketing Account", the "Letter of Credit Purchase Account" and the "Borrower Purchase Account".

  • Any moneys paid by the Borrower pursuant to Section 4.3 of the Loan Agreement for purchase of Bonds shall be deposited by the Trustee in a special trust account designated as the Borrower Purchase Account which the Trustee shall establish and use to reimburse (i) the Bank for drawings under the Letter of Credit for such purpose or (ii) the Participating Bank if it has reimbursed the Bank for moneys so drawn and the Trustee has received written notice from the Bank of such reimbursement.

  • Except as otherwise provided in Section 10.02, moneys deposited in the Letter of Credit Debt Service Account, the Letter of Credit Purchase Account, the Borrower Purchase Account or the Remarketing Proceeds Purchase Account shall not be invested but shall be held in their respective accounts pending application pursuant to Section 5.04 or Article IV, as applicable.

  • To the extent that moneys on deposit ----------------- in the Remarketing Proceeds Purchase Account or the Letter of Credit Purchase Account established under the Indenture are insufficient to pay the full purchase price of Bonds payable pursuant to Sections 4.01 and 4.02 of the Indenture on the applicable Purchase Date, the Borrower shall also pay to the Trustee as Purchase Payments for deposit in the Borrower Purchase Account established under the Indenture amounts sufficient to cover the shortfalls.

  • Upon receipt of money provided by the Borrower pursuant to Section 3.04(a)(iv) of the Agreement for the payment of the Purchase Price of Bonds of a subseries, the Trustee shall deposit such proceeds in the subseries subaccount of the Borrower Purchase Account for application to the Purchase Price of the Bonds of such subseries to the extent that the moneys on deposit in the related subseries subaccount of the Remarketing Proceeds Account shall not be sufficient.

  • Amounts held in the Remarketing Proceeds Account and the Borrower Purchase Account and any subaccount therein by the Trustee shall be held uninvested and separate and apart from each other and from all other funds and accounts.


More Definitions of Borrower Purchase Account

Borrower Purchase Account means the account so designated and established pursuant to Section 3.6 hereof.
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Related to Borrower Purchase Account

  • Note Account As defined in the Indenture.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Investment Account As defined in Section 3.12(a).

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal 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.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Principal Accumulation Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • 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.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Principal Accumulation Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Accumulation Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • 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.

  • Reallocated Investor Finance Charge Collections means that portion of Group I Investor Finance Charge Collections allocated to Series 1997-1 pursuant to Section 4.10.

  • Principal Funding Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • 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.