Examples of Borrower Revenue Account in a sentence
Each of the Borrower Revenue Account, the Capital Improvements Account and the Lessee Revenue Account shall have been established to the reasonable satisfaction of the Administrative Agent.
The Borrower shall pay and deliver to the Borrower Revenue Account any and all funds, refunds, payments or other monetary receipts received by the Borrower from the Village of Seneca, LaSalle and Grundy Counties, Illinois pursuant to the Redevelopment Agreement, including any and all payments Credit Agreement received pursuant to the Company Note, as that term is defined in the Redevelopment Agreement.
As of the date hereof and as of the Bring Down Date, the Borrower does not have, and is not the beneficiary of, any bank account other than (i) the Borrower Revenue Account and the Capital Improvements Account and (ii) Local Accounts set forth on Schedule 5.32 with respect to which Blocked Account Agreements have been duly executed and delivered.
All amounts received for deposit into the Revenue Fund shall be deposited by the Trustee as follows: (a) any amounts received pursuant to a drawing under any Letter of Credit for the payment of the principal of, redemption price, if any, and interest on the Bonds shall be deposited into the Letter of Credit Revenue Account and (b) all other amounts shall be deposited into the Borrower Revenue Account.
Such compensation, reimbursement and indemnity shall be paid by the Borrower pursuant to Section 9.3 of the Loan Agreement; provided, however, that to the extent not so paid, the Trustee may make disbursements from the Borrower Revenue Account of the Revenue Fund to pay such amounts.
Payments of the Investor Fee shall be received by Holdco from the Borrower Revenue Account (as defined in the Credit Agreement) in accordance with the terms of Section 3.03 of the Accounts Agreement (as defined in the Credit Agreement).
For purposes of the previous sentence, "cash collateral" includes amounts in the Borrower Revenue Account prior to Term-Conversion.
Such amount shall be deposited into the Borrower Revenue Account.
Notwithstanding anything herein to the contrary, no amounts contained in the Borrower Revenue Account shall be used to pay principal of, premium, if any or interest on the Bonds so long as amounts are available to be drawn under the Letter of Credit for such purposes.
Any proceeds from an exercise of the Put Option or Purchase Option, in excess of the amounts required to be applied to a prepayment of the Loans (other than the Security Fund LC Loans) to the levels as set forth in clauses (a) and (b) will be released upon Term-Conversion, and until then held in the Borrower Revenue Account as security for the Obligations of Borrower, or to the extent received after Term-Conversion, released immediately to Sponsor without condition.