Examples of Major Maintenance Reserve Account in a sentence
The Major Maintenance Reserve Account shall be held and administered by the Security Trustee in accordance with this Agreement and shall form part of the Collateral.
Any amounts on deposit in the Major Maintenance Reserve Account in excess of the Major Maintenance Reserve Required Balance shall be transferred to the Revenue Account to be applied, on the next succeeding Monthly Transfer Date, pursuant to Section 5.03(b).
Account Funds in the Major Maintenance Reserve Account that are not disbursed in accordance with this Section 4.10.2 shall remain in the Major Maintenance Reserve Account.
The Major Maintenance Reserve Account will be maintained by the Issuer in the United States with the global structured finance unit of the Indenture Trustee.
Account Funds in the Major Maintenance Reserve Account shall either be used to (i) make a Major Maintenance Payment on each Designated Monthly Date in accordance with the Annual Operations Budget and the Common Agreement or (ii) pay Scheduled Debt Service on any Annual Scheduled Payment Date.