Cash Trap Reserve Account definition

Cash Trap Reserve Account means the reserve account no. 00000000 entitled “Citibank, N.A. f/b/o Wendy’s Funding, LLC, Cash Trap Reserve Account”, which account is maintained by the Trustee for the purpose of trapping cash upon the occurrence of a Cash Trapping Event, or any successor securities account established pursuant to the Base Indenture.

Cash Trap Reserve Account means the reserve account established and maintained by the Issuer, in the name of the Trustee, for the benefit of the Secured Parties, for the purpose of trapping cash upon the occurrence of a Cash Trapping Event.

Cash Trap Reserve Account means the reserve account designated to accumulate cash during any Cash Trap Period, which would then be available to be used in accordance with Section 4.04.

Examples of Cash Trap Reserve Account in a sentence

• From and after the date that it is determined that a Cash Trap Period has commenced (as set forth in the Manager Report) and for so long as such Cash Trap Period continues to exist, the Cash Trapping Percentage of the funds available to be paid pursuant to clause (vii) of the Priority of Payments shall be deposited into the Cash Trap Reserve Account.

• If a Cash Trap Period ceases to exist and none of a Cash Sweep Period, Rapid Amortization Period nor a Post-ARD Period is then in effect and no acceleration of the maturity of the Notes has occurred following the occurrence and during the continuation of an Event of Default, any funds then on deposit in the Cash Trap Reserve Account will be deposited into the Collection Account for distribution on the immediately following Payment Date pursuant to the Priority of Payments.

More Definitions of Cash Trap Reserve Account

Cash Trap Reserve Account means the segregated trust account with that name established with the Indenture Trustee (or such successor bank, if applicable) in the name of the Indenture Trustee on behalf of the Noteholders and maintained pursuant to Section 5.04 of the Indenture.

Cash Trap Reserve Account has the meaning set forth in Section 5.4(a) of the Base Indenture.

Cash Trap Reserve Account means the reserve account no. 11312400 entitled “Citibank, N.A. f/b/o IHOP Funding LLC – Cash Trap Reserve Account” maintained by the Trustee, for the purpose of trapping cash upon the occurrence of a Cash Trapping Event.

Cash Trap Reserve Account shall have the meaning ascribed to it in Section 4.05.

Cash Trap Reserve Account means the account created pursuant to Section 7.1(G).

Cash Trap Reserve Account means the reserve account no. 12206100 entitled “Citibank, N.A. f/b/o Jack in the Box Funding, LLC, Cash Trap Reserve Account”, which account is maintained by the Trustee for the purpose of trapping cash upon the occurrence of a Cash Trapping Event, or any successor securities account established pursuant to the Base Indenture.

Cash Trap Reserve Account means account no. 106213 entitled “Citibank, N.A., as Trustee for the benefit of the Secured Parties, Securities Account of Sonic Capital LLC and SRI Real Estate Holding LLC” maintained by the Trustee pursuant to Section 5.5 of the Base Indenture or any successor securities account maintained pursuant to Section 5.5 of the Base Indenture.