Liquidity Reserve Account Required Balance definition

Liquidity Reserve Account Required Balance means, as of any determination date, an amount equal to the sum of (i) the product of (a) the aggregate outstanding principal balance of all Advances as of such date, times (b) (1) during the Availability Period, 1.00% or (2) after the Availability Period, 0% plus (ii) the Final Stage Date Solar Asset Reserve Amount plus (iii) the Substantial Stage Date Solar Asset Reserve Amount plus (iv) the Capitalized Interest Reserve Required Amount plus (v) the First Payment Date Reserve Amount.

Liquidity Reserve Account Required Balance means an amount equal to 50% of the Liquidity Reserve Account Target Amount.

Liquidity Reserve Account Required Balance means (i) as of the Closing Date, $[***] and (ii) as of any other date, an amount equal to [***].

Examples of Liquidity Reserve Account Required Balance in a sentence

• If at any time a Letter of Credit is held by the Paying Agent as an asset of the Liquidity Reserve Account, the stated amount of the Letter of Credit may be reduced from time to time, to the extent of any reduction in the dollar amount of the Liquidity Reserve Account Required Balance.

• In connection with the funding of each Advance, the Borrower (or the Agent, on the Borrower’s behalf, out of the proceeds of the initial Advance) shall cause to be deposited into the Liquidity Reserve Account an amount such that the amount on deposit therein is equal to the Liquidity Reserve Account Required Balance.

• The reduction shall be in the amount shown on the Monthly Servicer Report as the Liquidity Reserve Account “reductions” and the remaining stated amount of the Letter of Credit shall be equal to the Liquidity Reserve Account Required Balance “ending required amount” as shown on the Monthly Servicer Report.

• Amounts on deposit in the Liquidity Reserve Account are at any time less than the Liquidity Reserve Account Required Balance and such deficit is not cured on the earlier of the next Borrowing Date or the next Payment Date or the Borrower fails to deposit the Equipment Replacement Reserve Deposit in the Equipment Replacement Reserve Account in accordance with Section 2.7 as of any Payment Date and such failure is not cured on the earlier of the next Borrowing Date or the next Payment Date.

• The amount on deposit in the Liquidity Reserve Account shall not be less than the Liquidity Reserve Account Required Balance, taking into account the application of the proceeds of the Advances on the Funding Date.

More Definitions of Liquidity Reserve Account Required Balance

Liquidity Reserve Account Required Balance means an amount equal to 50% of the Liquidity Reserve Account Initial Deposit.

Liquidity Reserve Account Required Balance. “Maturity Date”, “Maximum Facility Amount”, “Supplemental Reserve Account Deposit”, “Takeout Transaction”, or, in each case, any defined terms within such definitions; (g) release any party to any Transaction Document from material obligations under any Transaction Document; (h) change the provisions of this Agreement relating to the application of collections on, or the proceeds of the sale of, all or any portion of the Collateral; (i) impair the right to institute suit for enforcement of the provisions of this Agreement; (j) reduce the percentage of Majority Lenders the consent of which is necessary to (k) approve any amendment to this Agreement or (2) direct the sale or liquidation of the Collateral; (l) permit the creation of any lien or security interest; (m) change the currency required for payments of Obligations owing to any Lender under this Agreement; or (n) waive, limit, reduce or impair any condition precedent required to be satisfied for the making of an Advance.

Liquidity Reserve Account Required Balance means an amount equal to (i) on any Payment Date during a DSCR Sweep Period, the then Aggregate Outstanding Note Balance (after giving effect to principal payments on such Payment Date) and (ii) on any other Payment Date, the Liquidity Reserve Account Floor Amount.

Liquidity Reserve Account Required Balance means for any Payment Date, an amount equal to 50% of the expected Note Interest and Senior Transaction Fees payable for the first six (6) Payment Dates following the Closing Date, as determined by the Manager as of the Closing Date.

Liquidity Reserve Account Required Balance means on any date of determination, an amount equal to the sum of (i) the product of (a) six, (b) one-twelfth, (c) the Aggregate Outstanding Advances and (d) the weighted average effective per annum rate used to calculate the Class A Interest Distribution Amounts, the Class B Interest Distribution Amounts, the Class A Additional Interest Distribution Amount and the Class B Additional Interest Distribution Amounts, if any, for the immediately preceding Payment Date or, with respect to the initial Payment Date hereunder, [***]%, (ii) the Final Stage Solar Asset Reserve Amount, (iii) the Substantial Stage Date Solar Asset Reserve Amount, (iv) the First Payment Date Reserve Amount, (v) the New Construction Final Stage Solar Asset Reserve Amount and (vi) the New Construction Substantial Stage Date Solar Asset Reserve Amount.

Liquidity Reserve Account Required Balance means, as of any determination date, an amount equal to the sum of (i) the product of (a) the aggregate outstanding principal balance of all Advances as of such date, times (b) (1) during the Availability Period, 1.00% or (2) after the Availability Period, 0% plus (ii) the Final Stage Date Solar Asset Reserve Amount plus (iii) the Substantial Stage Date Solar Asset Reserve Amount plus (iv) the Capitalized Interest Reserve Required Amount plus (v) the First Payment Date Reserve Amount plus (vi) upon the occurrence and the continuance of a Liquidity Reserve Step-Up Event, the product of (a) the Aggregate Solar Loan Balance as of such date of determination, times (b) [***]%.

Liquidity Reserve Account Required Balance means on any date of determination, an amount equal to the sum of (i) the product of (a) six,6/3 times (b) one-twelfth, (c) the Aggregate Outstanding Advances and (d) the weighted average effective per annum rate used to calculate the Class A Interest Distribution Amounts, the Class B Interest Distribution Amounts, the Class A Additional Interest Distribution Amount and the Class B Additional Interest Distribution Amounts, if any, for the immediately preceding Payment Date or, with respect to the initial Payment Date hereunder, [***]%, the then applicable Net Interest Obligations, if any, (ii) the Final Stage Solar Asset Reserve Amount, (iii) the Substantial Stage Date Solar Asset Reserve Amount, (iv) the First Payment Date Reserve Amount, (v) the New Construction Final Stage Solar Asset Reserve Amount and (vi) the New Construction Substantial Stage Date Solar Asset Reserve Amount.