Maintenance Reserves Account definition

Maintenance Reserves Account an account of the Borrower at the Account Bank or such other account with another financial institution in the United States or the European Union identified by the Borrower to the Agent, all of which shall be subject to the lien created by the Security Agreement and an account security agreement in substantially the form of the Account Security Agreement, in each case into which all Supplemental Rental payments due and payable from and after the Advance Date to the Borrower under the Lease will be made.
Sample 1Sample 2Sample 3
Maintenance Reserves Account means the account notified in writing by Lessor to Lessee as being the “Maintenance Reserves Account.”
Sample 1
Maintenance Reserves Account means an account (with an account number to be specified in Schedule VI hereto) in the name of the Borrower and maintained with the Account Bank.
Sample 1

Examples of Maintenance Reserves Account in a sentence

  • Pursuant to Section 3.01(g), all amounts consisting of Maintenance Reserves on deposit in any Rental Account shall be transferred to the Maintenance Reserves Account in the manner set forth in such section by the Operating Bank at the written direction of the Administrative Agent.

  • Following the termination of a Lease, the Borrower, Borrower Subsidiaries and the Service Providers shall be entitled to withdraw from the Maintenance Reserves Account any balances contained therein attributable to the related Aircraft for the payment of any expenses incurred in maintaining, repairing, remarketing, storing, insuring or getting the applicable Off-Lease Aircraft generally in a condition for Lease, to another Eligible Lessee.

  • The Borrower, Borrower Subsidiaries and the Service Providers at all times shall be entitled to withdraw funds from the Maintenance Reserves Account and the Security Deposit Account to the extent such parties are required to pay amounts in respect of Maintenance Reserves or Security Deposits to Lessees or other third parties pursuant to the terms of any Lease or the Service Provider Agreements.

  • Any AOE/AI Account shall be subject to a “cash sweep” arrangement pursuant to documentation satisfactory to the Administrative Agent which provides for the transfer of all collected and available funds in such AOE/AI Account to the Collection Account or the Maintenance Reserves Account, as applicable, at intervals approved by each of the Class A Lenders acting reasonably.

  • There are no lock-boxes or lockbox accounts associated with any of the Collection Account, the Security Deposit Account, the Maintenance Reserves Account, or the Irish VAT Refund Account.

  • The Collection Account, Security Deposit Account, the Irish VAT Refund Account, the Maintenance Reserves Account and each AOE/AI Account are the only accounts into which Collections are deposited or remitted.

  • The Administrative Agent shall have received evidence that the Maintenance Reserves Account shall have been funded in an amount equal to the Maintenance Reserve Required Amount for all Aircraft less the available amount under any Maintenance Reserves Eligible Letter of Credit.

  • The proceeds of Servicer Advances will, at the election of the Borrower (x) be deposited into the Maintenance Reserves Account to cure a Maintenance Reserves Deficiency or (y) to the Collections Account for application as if they were Available Collections for the Payment Date relating to the monthly collection period in respect of which made.

  • The proceeds of Servicer Advances will, at the election of the Borrower (x) be deposited into the Maintenance Reserves Account to cure a Maintenance Reserves Deficiency or (y) to the Collection Account for application as if they were Available Collections for the Payment Date relating to the monthly collection period in respect of which made.

  • The names and addresses of the Account Bank and the Irish Bank, together with the account numbers of the Borrower Funding Account, the Collection Account, the Security Deposit Account, the Maintenance Reserves Account, and the Irish VAT Refund Account are as specified in Schedule VI hereto, as such Schedule VI may be updated from time to time pursuant to Section 8.1(b).

Related to Maintenance Reserves Account

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • 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.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Replacement Reserve As defined in Section 9.5.1.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • 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.]

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Initial Reserve Account Deposit means $3,250,000.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.