Examples of Interest Collections Account in a sentence
On any other date prior to the Enforcement Date, the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.
On any other date prior to the Enforcement Date the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay, in the Order of Priority, to the Security Trustee, the Note Trustee and any relevant Operating Creditors any unpaid Budgeted Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.
Accounts Interest shall accrue on the Interest Collections Account at a rate of interest as agreed from time to time between the Account Bank, the Swap Counterparty and the Issuer and shall be paid into the Interest Collections Account.
If such rates of interest are negative then such amounts shall be deducted from the Principal Collections Account and/or Interest Collections Account (as applicable).
Scanlon:Suppose Jones has suffered an accident in the transmitter room of a television station.
Interest payments due on the Notes will be funded by (a) Swap Premium payments made by the Swap Counterparty under the Credit Default Swap, (b) (during a Repo Existence Period) any Repo Premium payments made by the Repo Counterparty, and (c) interest earned on each of the Principal Collections Account and the Interest Collections Account.
Interest payments due on the Notes will be funded by (a) Swap Premium payments (to the extent payable into the Interest Collections Account) made by the Swap Counterparty under the Credit Default Swap and(b) the Collateral Income Proceeds.
On any other date prior to the Enforcement Date the Issuer will apply, or cause to be applied, the funds standing to the credit of the Interest Collections Account, to pay to the Security Trustee, the Note Trustee and any relevant Operating Creditors any Covered Expenses determined as of the immediately preceding Payment Date which are payable to such party and which have not previously been paid out of the Interest Collections Account.
All payments of Swap Premium will, upon receipt, be deposited into the Interest Collections Account unless the Account Bank Interest Rate is negative, in which case a portion of the Swap Premium equal to the absolute value of the Collateral Income Proceeds shall be deposited into the Principal Collections Account and the remainder (if any) deposited into the Interest Collections Account.
SecurityAll payments of Swap Premium will, upon receipt, be deposited into the Interest Collections Account unless the Account Bank Interest Rate is negative, in which case a portion of the Swap Premium equal to the absolute value of the Collateral Income Proceeds shall be deposited into the Principal Collections Account and the remainder (if any) deposited into the Interest Collections Account.