Liquidity Standby Account definition

Liquidity Standby Account has the meaning given thereto in the relevant Liquidity Facility Agreement.
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Liquidity Standby Account means the account so named opened by the Issuer with the Liquidity Standby Account Bank or such other account as may, with the consent of the Representative of the Noteholders, be the Liquidity Standby Account.
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Liquidity Standby Account means (i) if the Liquidity Facility Provider no longer has the Minimum Short-term Rating, a reserve account opened by, and held in the name of, the Issuer
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Examples of Liquidity Standby Account in a sentence

  • An Obligor draws down under a Liquidity Facility (excluding any drawing or repayment of any Standby Drawing) or withdraws sums credited to a Debt Service Reserve Account, respectively, or a Liquidity Standby Account, if the withdrawal of such amount is for the purposes of making scheduled debt service payments on the Senior Debt.

  • This balance reflects amounts held on trust (Liquidity Standby Account Trust) under the Liquidity Facility Agreement to fund forecast net senior interest for 12 months in excess of the Liquidity Facility amount.

  • Upon the delivery of a Loan Acceleration Notice or, if earlier, upon acceleration and cancellation of a Borrower Liquidity Facility provided pursuant to a Borrower Liquidity Facility Agreement in accordance with the terms thereof, all amounts credited to a Liquidity Standby Account in respect of a Borrower Liquidity Facility Provider will be paid by or on behalf of the Borrower Security Trustee or any Receiver to such Borrower Liquidity Facility Provider.

  • However, Liquidity Stand-by Drawings will bear interest at a separate rate which will be calculated by reference to the liquidity facility commitment fee and interest earned on the Liquidity Stand-by Account.

  • In addition, if the Issuer makes a deemed Income Deficiency Drawing by withdrawing funds from the Liquidity Stand-by Account, then this drawing will bear interest at three month EURIBOR plus a specified margin as with ordinary Income Deficiency Drawings.All payments due to the Liquidity Bank under the Liquidity Facility Agreement (other than in respect of any Liquidity Subordinated Amounts) will rank in priority to payments of interest and principal on the Notes.

  • The amounts due to the Liquidity Facility Provider under the Liquidity Facility Agreement (other than in respect of Subordinated Liquidity Facility Amounts and in respect of amounts standing to the credit of the Liquidity Standby Account) will rank ahead of the entitlements of Noteholders pursuant to the Issuer Deed of Charge.

  • On or prior to opening such account, the Issuer shall provide the Issuer Account Bank (copied to the Issuer Liquidity Facility Agent) with a mandate in respect of such Issuer Liquidity Standby Account and ensure the delivery by the Issuer Liquidity Facility Agent of relevant mandates in the form of the Issuer Account Bank’s standard documentation to the Issuer Account Bank.

  • An Obligor draws down under a Borrower Liquidity Facility (excluding any drawing or repayment of any Standby Drawing) or withdraws sums credited to a Debt Service Reserve Account, respectively, or a Borrower Liquidity Standby Account, if the withdrawal of such amount is for the purposes of making scheduled debt service payments on the Borrower Secured Debt.

  • On or prior to opening such account, the Company, Caruna Oy or Caruna Espoo (as applicable) shall provide the Account Bank (copied to the Borrower Liquidity Facility Agent) with a Borrower Account Mandate in respect of such Borrower Liquidity Standby Account and ensure the delivery by the Borrower Liquidity Facility Agent of relevant Borrower Account Mandates to the Account Bank.

Related to Liquidity Standby Account

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent) or if not rated, determined by the Adviser to be of comparable quality.

  • Liquidity Account Initial Date means, with respect to any Series, the date designated as the Liquidity Account Initial Date in the Appendix for such Series.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Investment Account As defined in Section 3.12(a).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Liquidity Amount means, as of any date of determination, the sum of (a) the Aggregate Borrowing Availability as of such date and (b) the Unrestricted Cash Amount as of such date.

  • Note Account As defined in the Indenture.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Credit Account is modified to read “Grant Account”.

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Qualified Account means an Account owing solely to the Company which meets the following requirements at the time it comes into existence and continues to meet the same until collected in full: (a) it arose from the performance of services by the Company, or from a bona fide sale or lease of goods, which have been delivered or shipped to an Account debtor in the United States, to Volvo, or a foreign debtor which has issued a transferable letter of credit acceptable to the Bank to secure payment, and for which the Company has genuine invoices, shipping documents or receipts; (b) it is not more than 60 days past due; (c) it is not owed by an Account debtor which has 50% or more of its aggregate dollar amount of Accounts owed to the Company unpaid more than 90 days past the earlier of performance of the services, delivery of goods or date(s) of invoice; (d) it is owned by the Company and not subject to any assignment, claim, lien, encumbrance or security interest whatsoever other than those securing the Company's obligations to the Bank; (e) it is a valid and legally enforceable obligation of an Account debtor which is (i) satisfactory to the Bank, (ii) not an Affiliate of the Company and (iii) not the United States of America or any department, agency or instrumentality thereof unless the Company has complied with the Assignment of Claims Act of 1940, to the satisfaction of the Bank; (f) it is not subject to setoff, counterclaim, credit allowance, or adjustment by the Account debtor thereunder, except for discount for prompt payment, or to any claim by such Account debtor denying liability thereunder in whole or in part, and such Account debtor has not refused to accept and has not returned or offered to return any of the goods which are subject to such Account; (g) it arose in the ordinary course of the Company's business and in compliance with all Requirements of Law; (h) the Company has no notice or knowledge of the bankruptcy, insolvency, or similar proceeding of the Account debtor thereunder, or of the inability of the Account debtor thereunder to pay its debts as they become due, or of anything which might impair the credit standing of the Account debtor; (i) it is assignable to the Bank and it does not arise out of a contract or order which by its terms forbids or makes void or unenforceable the assignment by the Company to the Bank of the Account arising with respect thereto; (j) it is not evidenced by instruments or chattel paper unless the same has been endorsed and delivered to the Bank; (k) it does not arise from a sale on consignment, sale on return, bill and hold sale or any other type of conditional sale except as perxxxxed in writing by the Bank; and (l) it is certified by the Company within fifteen days after the end of each month (or at such more frequent intervals as the Bank shall request) as to the amount thereof and all other matters set forth herein or reasonably required by the Bank. A Qualified Account which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be a Qualified Account.

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.