Interest Reserve Letter of Credit definition

Interest Reserve Letter of Credit means any letter of credit issued hereunder for the benefit of the Trustee and the Senior Noteholders or the Senior Subordinated Noteholders, as applicable.
Sample 1Sample 2Sample 3
Interest Reserve Letter of Credit means any letter of credit for the benefit of the Trustee for the benefit of the Class A Noteholders, issued pursuant to any LC Facility and not an Ineligible Interest Reserve Letter of Credit.
Sample 1Sample 2
Interest Reserve Letter of Credit means any Letter of Credit issued under a Class A-1 Note Purchase Agreement that satisfies the conditions set forth in the third paragraph of Section 5.17 of this Base Indenture.
Sample 1

Examples of Interest Reserve Letter of Credit in a sentence

  • On any date on which no Senior Notes are Outstanding, the Master Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the Senior Notes Interest Reserve Account and to deposit all remaining funds into the Collection Account and/or to return any outstanding Interest Reserve Letter of Credit maintained with respect to the Senior Notes Interest Reserve Account to the issuer thereof for cancellation.

  • On any date on which no Senior Subordinated Notes are Outstanding, the Master Issuer shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the Senior Subordinated Notes Interest Reserve Account and to deposit all remaining funds into the Collection Account and the Master Issuer shall terminate any outstanding Interest Reserve Letter of Credit maintained with respect to the Senior Subordinated Notes Interest Reserve Account.

  • On any date on which no Senior Notes are Outstanding, the Master Issuer shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the Senior Notes Interest Reserve Account and to deposit all remaining funds into the Collection Account and the Master Issuer shall terminate any outstanding Interest Reserve Letter of Credit maintained with respect to the Senior Notes Interest Reserve Account.

  • Following any Ineligibility Cure, the related LC Provider and Interest Reserve Letter of Credit shall no longer be treated as an Ineligible LC Provider or an Ineligible LC, respectively.

  • On the date on which no Class A Notes are Outstanding, the Manager shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the LC Provider Accounts and to release all such remaining funds at the direction of the Manager (acting on behalf of the Issuers) and/or to return any outstanding Interest Reserve Letter of Credit maintained with respect to the LC Provider Account to the LC Provider thereof for cancellation.

  • The Issuers (or the Manager on their behalf) shall provide notice to the Trustee and the Control Party of any new Interest Reserve Letter of Credit at least five (5) Business Days prior to the initial issuance thereunder and the Trustee shall (at the direction of the Manager, acting on behalf of the Issuers) execute an acknowledgement of the terms of the relevant LC Facility in favor of the LC Providers prior to such date of issuance.

  • Non-sanctioned tournaments cannot be promoted by Wyoming Soccer Association.

  • On any date on which no Senior Notes are Outstanding, the Master Issuer shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the Senior Notes Interest Reserve Account and to deposit all remaining funds into the Collection Account and/or to return any outstanding Interest Reserve Letter of Credit maintained with respect to the Senior Notes Interest Reserve Account to the issuer thereof for cancellation.

  • On any date on which no Senior Subordinated Notes are Outstanding, the Master Issuer shall instruct the Trustee in writing to withdraw on such date any funds then on deposit in the Senior Subordinated Notes Interest Reserve Account and to deposit all remaining funds into the Collection Account and/or to return any outstanding Interest Reserve Letter of Credit maintained with respect to the Senior Subordinated Notes Interest Reserve Account to the issuer thereof for cancellation.

  • Such Interest Reserve Letter of Credit shall satisfy the Co-Issuers’ requirement to maintain (i) funds in the Senior Notes Interest Reserve Accounts, or (ii) a letter of credit, or a combination thereof, in an aggregate amount equal to the Senior Notes Interest Reserve Amount, as calculated after giving effect to the issuance of the Series 2022-1 Class A-2 Notes.


More Definitions of Interest Reserve Letter of Credit

Interest Reserve Letter of Credit means any letter of credit issued under a Variable Funding Note Purchase Agreement for the benefit of the Trustee and the Senior Noteholders or the Senior Subordinated Noteholders, as applicable. “Interest Reserve Release Event” means, as of any date of determination, and with respect to each Series of Senior Notes or Senior Subordinated Notes Outstanding, as applicable, any reduction in (i) the Class A-1 Notes Maximum Principal Amount or (ii) the Outstanding Principal Amount of such Series of Notes, disregarding any Series of Class A-1 Notes. “Interim Allocation Date” means the fourth Business Day immediately following the last day of each Interim Collection Period. “Interim Collection Period” means each period commencing (i) at 12:00 a.m. (Eastern time) on and including the 14th day of each calendar month and ending at 11:59:59 p.m. (Eastern time) on and including the 23rd day of such calendar month, (ii) at 12:00 a.m. (Eastern time) on and including the 24th day of each calendar month and ending at 11:59:59 p.m. (Eastern time) on and including the 13th day of the following calendar month. “Interim Manager’s Certificate” has the meaning specified in Section 4.1(a) of the Base Indenture. “Interim Successor Manager” means, upon the resignation or termination of the Manager pursuant to the terms of the Management Agreement and prior to the appointment of any successor to the Manager by the Control Party (acting at the direction of the Controlling Class Representative), the Back-Up Manager. “International Franchise Stores” means all Stores that are located outside of the United States. “International Franchisor” means Planet Fitness International Franchise, LLC and its successors and assigns. “International Franchisor IP License” means the International Franchisor IP License, dated as of the Initial Closing Date, by and between the Franchisor, as licensor, and the International Franchisor, as licensee, as amended, supplemented or otherwise modified from time to time. “International IP License Fees” means the licensing fees paid by International Franchisor to the Franchisor pursuant to the International Franchise IP License. “Investment Income” means the investment income earned on a specified account during a specified period, in each case net of all losses and expenses allocable thereto. “Investments” means, with respect to any Person(s), all investments by such Person(s) in other Persons in the form of loans (including guarantees), advances or capital cont...
Sample 1
Interest Reserve Letter of Credit as defined in Section 4.1(c).
Sample 1

Related to Interest Reserve Letter of Credit

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.