Liquidity Reserve Target Amount as calculated on any Calculation Date, means an amount equal to three (3) times the sum of (i) the aggregate interest expense payable on the Loans for the Interest Period ending on such Calculation Date (which shall be calculated on the basis of a 360-day year consisting of 12 months of 30 days each) minus (ii) any amounts (other than any Derivatives Termination Value) owed to the Borrower as of the related Settlement Date under any Derivatives Agreement plus (iii) any amounts (other than any Derivatives Termination Value) owed by the Borrower as of the related Settlement Date under any Derivatives Agreement (for purposes of this calculation, the amounts referred to in clauses (ii) and (iii) shall only include amounts accruing during the Interest Period as to which the amount in clause (i) is computed).
Liquidity Reserve Target Amount means, (A) as of the Initial Closing Date, zero and (B) thereafter, on each Payment Date, an amount equal to the product of (x) nine times (y) the sum of (i) the Stated Interest Amount due on all Outstanding Class A Equipment Notes and Class B Equipment Notes on such Payment Date (for purposes of this calculation, interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months), plus (or minus) (ii) the net payments owed by the Issuer (or owed to the Issuer) under any Hedge Agreements (other than for the payment of any Hedge Termination Value or Hedge Partial Termination Value) in respect of the Interest Accrual Period ending on such Payment Date (for purposes of this calculation, such payments shall be calculated on the basis of a 360-day year consisting of twelve 30-day months for both amounts payable and receivable).
Liquidity Reserve Target Amount means, (A) as of the Initial Closing Date, zero and (B) thereafter, on each Payment Date, an amount equal to the product of (x) nine times (y) the sum of (i) the Stated Interest Amount due on all Outstanding Series of Equipment Notes on such Payment Date (for purposes of this calculation, interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months), plus (or minus) (ii) the net payments owed by the Issuer (or owed to the Issuer) under any Hedge Agreements (other than for the payment of any Hedge Termination Value or Hedge Partial Termination Value) in respect of the Interest Accrual Period ending on such Payment Date (for purposes of this calculation, such payments shall be calculated on the basis of a 360-day year consisting of twelve 30-day months for both amounts payable and receivable).
Examples of Liquidity Reserve Target Amount in a sentence
On the Closing Date, the Liquidity Reserve Target Amount will be $0.
On each other Closing Date, Issuer shall deposit (or cause to be deposited) in the Class A Liquidity Reserve Account, cash in an amount equal to the Class A Liquidity Reserve Target Amount as of any such Closing Date, out of the Net Proceeds of such Additional Notes and/or from funds contributed to Issuer as equity on or prior to such date, as applicable.
TILC shall have made or concurrently shall make a cash capital contribution to the Borrower in an amount at least equal to the sum of (i) the amount that the aggregate Purchase Price for the Railcars to be added to the Portfolio on the Closing Date exceeds the Loans to be made by the Lenders on the Closing Date related to the purchase of such Railcars, plus (ii) an amount equal to the Liquidity Reserve Target Amount.
On any Settlement Date, if there exists in the Liquidity Reserve Account any amount in excess of the Liquidity Reserve Target Amount (after giving effect to all other payments to be made on such Settlement Date and as calculated on the Calculation Date immediately preceding such Settlement Date), the Agent shall be deemed to have released such excess amount from the Liquidity Reserve Account and such excess amount shall be applied by the Depositary in accordance with Section 2.07(c) .
On the Initial Closing Date, the Issuer shall establish the Liquidity Reserve Account and an amount equal to the Liquidity Reserve Target Amount will be deposited in the Liquidity Reserve Account.
More Definitions of Liquidity Reserve Target Amount
Liquidity Reserve Target Amount means as of the Initial Closing Date and the first Payment Date, thirty-four million five hundred ninety-four thousand seven hundred sixty-five dollars ($34,594,765), and thereafter, on each Payment Date, an amount equal to the product of (x) nine times (y) the sum of (i) the Stated Interest Amount due on all Outstanding Series of Equipment Notes on such Payment Date (for purposes of this calculation, interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months), plus (or minus) (ii) the net payments owed by the Issuer (or owed to the Issuer) under any Hedge Agreements (other than for the payment of any Hedge Termination Value or Hedge Partial Termination Value) in respect of the Interest Accrual Period ending on such Payment Date (for purposes of this calculation, such payments shall be calculated on the basis of a 360-day year consisting of twelve 30-day months for both amounts payable and receivable).
Liquidity Reserve Target Amount means, as of the Closing Date and the first Payment Date, an amount equal to $14,382,768; and on each subsequent Payment Date, an amount equal to nine times the Stated Interest Amount due on the Outstanding Principal Balance of the Equipment Notes as of such date, which Outstanding Principal Balance shall be calculated prior to giving effect to principal payments made on such date in respect of such Equipment Notes.
Liquidity Reserve Target Amount means, with respect to any Settlement Date, an amount equal to the product of (x) six (6), times (y) the sum of (i) interest payable on the then outstanding principal amount of the Loan on such Settlement Date (for purposes of this calculation, interest shall be calculated assuming 30 days in the related accrual period), plus (or minus) (ii) the net payments owed by the Borrower (or owed to the Borrower) under any Derivatives Obligations (other than for the payment of Derivatives Termination Value) in respect to the Interest Period ending on such Settlement Date (for purposes of this calculation, such payments shall be calculated assuming 30 days in the related accrual period for both payments payable and receivable).
Liquidity Reserve Target Amount as calculated on any Calculation Date, means an amount equal to twelve times the sum of (i) the aggregate interest expense payable on the Loans for the Interest Period ending on such Calculation Date minus (ii) any amounts (other than any Derivatives Termination Value) owed to the Borrower as of the related Settlement Date under any Derivatives Agreement plus (iii) any amounts (other than any Derivatives Termination Second Amended and Restated Warehouse Loan Agreement Value) owed by the Borrower as of the related Settlement Date under any Derivatives Agreement (for purposes of this calculation, the amounts referred to in clauses (ii) and (iii) shall only include amounts accruing during the Interest Period as to which the amount in clause (i) is computed).
Liquidity Reserve Target Amount contained in Section 1.01 of the Agreement is hereby amended by deleting the word "six" occurring therein and by inserting in its place the word "the LRTA Multiplier then in effect".
Liquidity Reserve Target Amount or any term that is a component of any such definition; or (I) consent to the assignment or transfer by either Facility Party of any of its rights and obligations under (or in respect of) the Loan Documents and the Management Agreement, except as permitted thereby. (ii) no provision of Article X may be amended without the consent of the Agent. Notwithstanding the fact that the consent of all the Lenders is required in certain circumstances as set forth above, (i) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersede the unanimous consent provisions set forth herein and (ii) the Required Lenders may consent to allow the Borrower to use cash collateral in the context of a bankruptcy or insolvency proceeding. The various requirements of this Section 11.03
Liquidity Reserve Target Amount as calculated on any Calculation Date, means an amount equal to six (6) times the sum of (i) the aggregate interest expense payable on the Loans for the Interest Period ending on such Calculation Date (which shall be calculated on the basis of a 360-day year consisting of 12 months of 30 days each) minus (ii) any amounts (other than any Derivatives Termination Value) owed to the Borrower as of the related Settlement Date under any Derivatives Agreement plus (iii) any amounts (other than any Derivatives Termination Value) owed by the Borrower as of the related Settlement Date under any Derivatives Agreement (for purposes of this calculation, the amounts referred to in clauses (ii) and (iii) shall only include amounts accruing during the Interest Period as to which the amount in clause (i) is computed). “Loan” means a loan made under Section 2.01. “Loan Documents” means this Agreement, the Notes and the Collateral Documents, collectively, and all other related agreements and documents issued or delivered hereunder or thereunder or pursuant hereto or thereto, in each case as the same may be amended, modified or supplemented from time to time. “Maintenance Reserve Account” means the Maintenance Reserve Account established by the Depositary pursuant to the Depository Agreement. “Majority Lenders” means, collectively, Lenders whose aggregate Credit Exposure constitutes more than 50.00% of the Credit Exposure of all Lenders at such time. “Management Agreement” means the Fourth Amended and Restated Operation, Maintenance, Servicing and Remarketing Agreement, substantially in the form of Exhibit H hereto, dated as of March 15, 2018, among the Borrower, the Agent and the Manager, as amended on the Amendment Closing Date. “Management Documents” means the Management Agreement, the Insurance Management Agreement, the Administrative Services Agreement and the Marks Company Servicing Agreement, collectively. “Manager” means TILC, and its successors and permitted assigns. “Manager Advances” means any advance (other than any advance giving rise to a Reimbursement Amount) made by the Manager (from time to time in the Manager’s sole discretion) to the Borrower in respect of one or more delinquent Lease payments which the Manager reasonably determines will ultimately be recoverable to be deposited in the Collection Account on any Settlement Date or otherwise. Outstanding Manager Advances shall bear interest at a rate per annum equal to the Applicable Rate and shall be repaid ...