Enhancement Account definition

Enhancement Account means an enhancement account of the Plan held in trust by the Trustee, the funds of which are used at the discretion of the Foundation to supplement Education Payments, pay for Education Payments in full and fund the repayment of Enrolment Fees to Beneficiaries of the Plan.
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Enhancement Account is defined in Section 19.1.1.
Sample 1

Examples of Enhancement Account in a sentence

  • To the extent the unpaid portion of the principal of the Loan during such Interest Period equals or is less than the amount on deposit in the Credit Enhancement Account, the rate for such Interest Period on such principal portion shall be the LIBOR-Based Rate.

  • The Credit Enhancement Provider agrees that its interest in funds on deposit in the Credit Enhancement Account is subordinated to the interests of the Investor Certificateholders of the Series, as provided in this Agreement and in the Series Supplement.

  • In addition, any amounts paid to the Trustee as administrator of the Credit Enhancement on any Distribution Date with respect to the Total Available Credit Enhancement Amount or the Available Class B Credit Enhancement Amount pursuant to the terms of the Series Supplement also shall be deposited into the Credit Enhancement Account upon receipt of such funds by the Trustee.

  • The Trust shall possess all right, title and interest in all funds on deposit from time to time in the Credit Enhancement Account and in all proceeds thereof.

  • The interest of the Credit Enhancement Provider in the Credit Enhancement Account shall be subordinated to the interests of the Certificateholders to the extent provided herein and in the Credit Enhancement Agreement.

  • The Credit Enhancement Account shall be under the sole dominion and control of the Trustee as the administrator of the Credit Enhancement for the benefit of the Certificateholders and the Credit Enhancement Provider; provided, however, the Master Servicer may make Credit Enhancement Drawings pursuant to, and for the purposes set forth in, Section 9.

  • The Credit Enhancement Provider shall not be entitled to reimbursement from the assets of the Trust for any withdrawals from the Credit Enhancement Account except as specifically provided in this Series Supplement.

  • The Master Servicer at all times shall maintain accurate records reflecting each transaction in the Credit Enhancement Account.

  • Funds on deposit in the Credit Enhancement Account shall be invested in Permitted Investments by the Trustee as administrator of the Credit Enhancement at the direction of the Master Servicer, as set forth below.

  • On each Distribution Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Credit Enhancement Account shall be paid to the Trustee as administrator of the Credit Enhancement for application in accordance with the provisions of the Credit Enhancement Agreement.

Related to Enhancement Account

  • 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.

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • 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.

  • Credit Enhancement means, with respect to this Confirmation or any other Relevant Agreement, any credit enhancement or other credit support arrangement in support of the obligations of Dealer or Counterparty hereunder or thereunder or with respect hereto or thereto, including any guarantee or collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

  • Concentration Account has the meaning provided in Section 6.13(c).

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

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