Hedge Payment Account definition

Hedge Payment Account means an account (including any investment accounts related thereto) in the name of the Trustee for the benefit of the Secured Parties, into which amounts payable to a Hedge Counterparty are deposited, bearing a designation clearly indicating that the funds deposited therein are held by the Trustee for the benefit of the Secured Parties.

Hedge Payment Account means an account entitled “Citibank, N.A. f/b/o Wendy’s Funding, LLC, Hedge Payment Account”, which account is maintained by the Trustee pursuant to Section 5.7 of the Base Indenture or any successor securities account maintained pursuant to Section 5.7 of the Base Indenture.

Hedge Payment Account means a non-interest bearing account of the Collateral Agent designated in writing by the Collateral Agent to the other parties hereto.

Examples of Hedge Payment Account in a sentence

• In the absence of written investment instructions hereunder, funds on deposit in the Hedge Payment Account shall be invested as fully as practicable in one or more Eligible Investments of the type described in clause (b) of the definition thereof.

• All income or other gain from such Eligible Investments shall be credited to the Hedge Payment Account, and any loss resulting from such investments shall be charged to the Hedge Payment Account.

• On or before the Series Closing Date of the first Series of Notes issued pursuant to this Base Indenture providing for a Series Hedge Agreement, the Master Issuer, or the Manager on behalf of the Master Issuer, shall establish and maintain with the Trustee the Hedge Payment Account in the name of the Trustee for the benefit of the Secured Parties, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Secured Parties.

• All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Hedge Payment Account shall be deemed to be Investment Income on deposit for distribution to the Collection Account in accordance with Section 5.10.

• In the absence of written investment instructions hereunder, funds on deposit in the Hedge Payment Account shall be invested as fully as practicable in one or more Permitted Investments of the type described in clause (b) of the definition thereof.

More Definitions of Hedge Payment Account

Hedge Payment Account means an account entitled “Citibank, N.A. f/b/o Planet Fitness Master Issuer LLC, Hedge Payment Account”, which account is required to be maintained by the Trustee pursuant to Section 5.8 of the Base Indenture or any successor securities account required to be maintained pursuant to Section 5.8 of the Base Indenture.

Hedge Payment Account means account no. 11313700 entitled “Citibank, N.A. f/b/o IHOP Funding LLC – Hedge Payment Account” maintained by the Trustee pursuant to Section 5.7(a) of the Base Indenture or any successor securities account maintained pursuant to Section 5.7(a) of the Base Indenture.

Hedge Payment Account. The meaning specified in Section 10.6(a) of the Base Indenture.

Hedge Payment Account has the meaning given to such term in Section 3.12 hereof.

Hedge Payment Account means an account entitled “Citibank, N.A. f/b/o Planet Fitness Master Issuer LLC, Hedge Payment Account”, which account is required to be maintained by the Trustee pursuant to Section 5.8 of the Base Indenture or any successor securities account required to be maintained pursuant to Section 5.8 of the Base Indenture. “Holdco” means Planet Fitness, Inc., a Delaware corporation, and its successors and assigns. “Holdco Leverage Ratio” means, as of any date of determination, the ratio of (a)(i) Indebtedness of the Non-Securitization Entities and the Securitization Entities (assuming that amounts available under each Class A-1 Note at such time (after giving effect to any commitment reductions on such date) are fully drawn) as of the end of the most recently ended Quarterly Fiscal Period less (ii) the sum of (v) the cash and Eligible Investments of the Securitization Entities credited to the Senior Notes Interest Reserve Account, the Senior Subordinated Notes Interest Reserve Account, the Cash Trap Reserve Account and the Franchisor Capital Accounts as of the end of the most recently ended Quarterly Fiscal Period, (w) the cash and Eligible Investments of the Securitization Entities maintained in the Management Accounts as of the end of the most recently ended Quarterly Fiscal Period that the Manager reasonably anticipates, pursuant to calculations set forth in a certificate delivered by the Manager to the Trustee on or prior to such date, will be paid to the Manager or constitute the Residual Amount on the next two succeeding Interim Allocation Dates, (x) the Unrestricted Cash and Eligible Investments of the Non-Securitization Entities as of the end of the most recently ended Quarterly Fiscal Period, (y) without duplication, the amount available under any Cash Collateralized Letters of Credit and (z) without duplication, the available amount of each Interest Reserve Letter of Credit as of the end of the most recently ended Quarterly Fiscal Period to (b) the sum of the Adjusted EBITDA of the Non-Securitization Entities and the Securitization Entities, for the immediately preceding four (4) Quarterly Fiscal Periods most recently ended as of such date and for which financial statements have been finalized. The Holdco Leverage Ratio shall be calculated in accordance with Section 14.18(a) of the Base Indenture. “Holder” means each Noteholder and, to the extent Notes are held through a Clearing Agency, each Note Owner. “Holding Company Guarantor” means Planet Fitness...

Hedge Payment Account means an account entitled “Citibank, N.A. f/b/o Jack in the Box Funding, LLC, Hedge Payment Account”, which account is maintained by the Trustee pursuant to Section 5.08 of this Base Indenture or any successor securities account maintained pursuant to Section 5.08 of this Base Indenture.

Hedge Payment Account has the meaning set forth in Section 5.7 of the Base Indenture.