Buyout Reserve Account definition

Buyout Reserve Account is defined in the Depositary Agreement.
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Buyout Reserve Account means the account established pursuant to Section 1 of the Account Control Agreement and maintained pursuant to Section 9.03(h) hereof.
Sample 1Sample 2
Buyout Reserve Account means the account established pursuant to Section 1 of the Account Control Agreement and maintained pursuant to Section 9.03(h) hereof. “Buyout Reserve Amount” means, at any time, an amount equal to the sum of the Buyout Prices for each Buyout Eligible JV at such time. “Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a Capitalized Lease; provided that any obligations of any Group Member either existing on the Closing Date or created prior to any re- characterization described below (i) that were not included on the consolidated balance sheet of
Sample 1

Examples of Buyout Reserve Account in a sentence

  • The Buyout Reserve Account shall remain at all times with an Eligible Account Bank.

  • On each Quarterly Payment Date, the Borrower shall deliver Buyout L/Cs to the Collateral Agent and/or the Collateral Agent shall deposit funds into the Buyout Reserve Account as expressly set forth in the Priority of Payments, and upon Borrower Order the Collateral Agent shall transfer funds from the Equity Account to the Buyout Reserve Account.

  • The Collateral Agent agrees to give the Borrower immediate notice if an Administrative Officer of the Collateral Agent obtains actual knowledge of or receives written notice that the Buyout Reserve Account or any funds on deposit therein, or otherwise to the credit of the Buyout Reserve Account, shall become subject to any writ, order, judgment, warrant of attachment, execution or similar process.

  • On the second Business Day prior to the Maturity Date, the Collateral Agent shall transfer all amounts on deposit in the Buyout Reserve Account to the Payment Account for application in accordance with the Priority of Payments.

  • Any and all funds at any time on deposit in, or otherwise to the credit of, the Buyout Reserve Account shall be held by the Collateral Agent for the benefit of the Lenders (and the other Secured Parties).

  • By Borrower Order (which may be in the form of standing instructions), the Borrower may at any time direct the Collateral Agent to, and, upon receipt of such Borrower Order, the Collateral Agent shall, invest all funds in the Buyout Reserve Account as so directed by the Borrower in Eligible Investments.

  • Any income earned on amounts deposited in the Buyout Reserve Account will be deposited in the Collection Account as it is received.

  • If applicable, each of the Supplemental Reserve Account and the Buyout Reserve Account shall be funded to its then required level (taking into consideration the issuance of the Additional Senior Notes) pursuant to and as required by the Depositary Agreement (including, as applicable, by the issuance of a Supplemental Reserve Letter of Credit or a Buyout Reserve Letter of Credit (as each such term is defined in the Depositary Agreement)).

  • Upon direction by a Borrower Order, the Collateral Agent shall apply funds on deposit in the Buyout Reserve Account solely to pay the purchase price of any Permitted Buyout due and payable at such time.

  • The only permitted withdrawal from or application of funds on deposit in, or otherwise to the credit of, the Buyout Reserve Account shall be in accordance with the provisions of this Section 9.03(h).

Related to Buyout Reserve Account

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Interest Reserve Account” and which shall be an Eligible Account.

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

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

  • Reserve Accounts means, collectively, the Tax and Insurance Escrow Account, the Replacement Reserve Account, the Required Repair Account, the Rollover Reserve Account, the Occupancy Reserve Account, the Excess Cash Reserve Account, the Net Proceeds Account, the Payment Reserve Account, the TI/LC Reserve Account and any other escrow or reserve account established pursuant to the Loan Documents.

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

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

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