Cash Trap Funds definition

Cash Trap Funds shall have the meaning set forth in Section 6.7.1.
Sample 1Sample 2Sample 3
Cash Trap Funds. The Cash Trap Funds shall be held in the Excess Cash Flow Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.
Sample 1Sample 2
Cash Trap Funds shall have the meaning set forth in Section 6.5.1. “Cash Trap Period” shall mean the following: (i) a period beginning on the date hereof and ending on the date that both (x) Tranches 1, 2 and 3 set forth in the DCAS Lease are Substantially Complete (as -10- defined in the DCAS Lease) and (y) DCAS has accepted the leased premises demised by the DCAS Lease and has commenced paying rent thereunder; or (ii) from and after the occurrence of any Event of Default, until Administrative Agent accepts in writing (in its sole and absolute discretion) a cure of the applicable Event of Default (provided that no Cash Trap Period remains in effect pursuant any other clause hereof); or (iii) the occurrence of a Bankruptcy Event with respect to Borrower or Guarantor. “Casualty” shall mean the occurrence of any casualty, damage or injury, by fire or otherwise, to the Property or any part thereof. “Casualty and Condemnation Account” shall have the meaning set forth in Section 6.6. “Casualty and Condemnation Funds” shall have the meaning set forth in Section 6.6. “Casualty Consultant” shall have the meaning set forth in Section 5.3.2(c). “Casualty Retainage” shall have the meaning set forth in Section 5.3.2(d). “Central Bank Pledge” shall have the meaning set forth in Section 9.1.1. “Clearing Account” shall have the meaning set forth in Section 6.1(a)(i). “Clearing Account Agreement” shall mean that certain Deposit Account Control Agreement dated as of the Original Closing Date by and among Borrower, Administrative Agent, for the benefit of Lenders, and Clearing Bank. “Clearing Bank” shall mean Xxxxx Fargo, National Association or any successor pursuant to the terms and provisions hereof. “Closing Date” shall mean the date hereof. “Co-Lender Agreement” shall have the meaning set forth in Section 9.5. “Code” shall mean the Internal Revenue Code of 1986, as amended, and as it may be further amended from time to time, any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form. “Collateral” shall mean the Property, Improvements and any personal property or other collateral with respect to which a Lien or security interest was granted to Administrative Agent, for the benefit of Lenders, pursuant to the Loan Documents. “Commitment” shall mean, as to each Lender, such Xxxxxx’s obligation to make disbursements pursuant to this Agreement, in an amount up to, but not exceeding the amount set forth for such ...
Sample 1

Examples of Cash Trap Funds in a sentence

  • Any Cash Trap Funds remaining after the Debt has been paid in full shall be returned to Borrower.

  • The Cash Trap Funds shall be held in the Excess Cash Flow Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.

  • Any Cash Trap Funds remaining after the Debt has been paid in full shall be promptly paid to Borrower.

  • The Cash Trap Funds shall be held in the Cash Trap Account (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.

  • At such time as a Cash Sweep Event Period shall no longer be in effect, all funds on deposit as Cash Trap Funds less any outstanding Leasing Costs (provided that such Leasing Costs are not covered by any Leasing Costs Future Advance made or to be made) shall be promptly disbursed to Borrower.

  • Lender shall not be required to disburse Cash Trap Funds more frequently than once each calendar month, nor in an amount less than the Minimum Disbursement Amount.

  • While departmental needs may sometimes prevent faculty membersfrom teaching extra-departmental courses in the common curriculum, faculty members are strongly encouraged to do so periodically.e. Faculty members in the School of Theology face explicit expectations for scholarship that should be taken into account in a determination of their annual faculty assignment.

  • If the receiver attorney determines that conflicts of interest exist between the receiver attorney and a client of the affected attorney, the receiver attorney shall notify the court of the existence of the conflict of interest with regard to the particular matters and the receiver attorney shall take no action with regard to those cases or files.

  • Upon written request from Borrower, Lender (or Servicer on its behalf) shall invest the Cash Trap Funds in Permitted Investments.

  • All such insurance shall remain in effect until final payment and at all times thereafter when CONTRACTOR may be correcting, removing or replacing defective Work in accordance with paragraph 13.12.

Related to Cash Trap Funds

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • 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 [*];

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

  • Cash Transfer shall have the meaning set forth in Section 2.12(a).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:

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

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

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

  • 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.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

  • 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.

  • 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.

  • Interest Reserve Account As defined in Section 3.4(d).

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

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • cash transaction means any transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

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

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

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

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