Mandatory Prepayment Account definition

Mandatory Prepayment Account means an interest-bearing account:

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Mandatory Prepayment Account means the non-interest-bearing account:

Mandatory Prepayment Account means an account held with a reputable Swedish financial institution by the Issuer subject to Security in favour of the Security Agent and from which no withdrawals may be made by any members of the Group except as contemplated by these Terms and Conditions.

Examples of Mandatory Prepayment Account in a sentence

Evidence of the opening of the Debt Service Reserve Account and Mandatory Prepayment Account.
The Borrower further irrevocably authorises the COFACE Agent to apply any amounts credited to the Mandatory Prepayment Account in respect of Launch Insurance Proceeds (other than Excess Launch Insurance Proceeds and Relevant Launch Insurance Proceeds) in or towards payments under the Re-Launch Contracts or in respect of the purchase of new Launch Insurance as and when such payments fall due.
For the avoidance of doubt, after the occurrence of an Event of Default that is continuing but prior to the occurrence of an Acceleration Event (under and as defined in the Intercreditor Agreement), the Company and each Borrower further irrevocably authorise the Agent to so apply amounts credited to the Mandatory Prepayment Account.
The Borrower irrevocably authorises the COFACE Agent to apply amounts credited to the Mandatory Prepayment Account to pay amounts due and payable under Clause 8.4 (Application of mandatory prepayments) and otherwise under the Finance Documents.
The Borrower also irrevocably authorises the Agent to transfer any amounts credited to the Holding Account referred to in this Clause 8.4.2 to the Mandatory Prepayment Account pending payment of amounts due and payable under the Finance Documents (but if all such amounts have been paid any such amounts remaining credited to the Mandatory Prepayment Account may (unless a Default has occurred) be transferred back to the Holding Account).

More Definitions of Mandatory Prepayment Account

Mandatory Prepayment Account has the meaning assigned to it in the Collateral Agency Agreement.

Mandatory Prepayment Account means the interest-bearing account in the name of the Borrower held with the Agent at ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇, Sort Code: 16-55-90 and Account number: 3210 198935 500 (as the same may be redesignated, substituted or replaced from time to time).

Mandatory Prepayment Account means the “Mandatory Prepayment Account” established and created in the name of the Borrower pursuant to Section 5.01.

Mandatory Prepayment Account means the deposit account to be specified by the Company pursuant to which proceeds from an Entire Sale Transaction or from an Asset Sale are to be deposited in accordance with the terms of Section 4.14(b) and Section 4.15(c) of this Indenture, respectively, which account shall be subject to a first priority Lien in favor of the Security Trustee and constitute additional Collateral for the benefit of the Holders, and which account shall not be subject to any other Lien whatsoever.

Mandatory Prepayment Account means a profit-bearing account:

Mandatory Prepayment Account means a deposit account (as defined in Article 9 of the UCC) of the Borrower established and maintained at the Depositary Bank, which shall be established on or prior to the Account Establishment Date and shall at all times thereafter be subject to a Blocked Account Control Agreement.

Mandatory Prepayment Account means the interest-bearing Dollar account designated as such (as the same may be re-designated, substituted or replaced with the prior written consent of the Facility Agent from time to time):