Parity Reserve Account definition

Parity Reserve Account means the special account of the Borrower created by the Parity Bond Resolutions.
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Parity Reserve Account means any account within the Utility System Bond Fund that may be created in the future as a debt service reserve account securing payment of the principal of and/or interest on one or more series of Parity Obligations. The Common Reserve Account (if any) is a Parity Reserve Account.
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Parity Reserve Account means the Parity Reserve Account established pursuant to Section 4.03 hereof.
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Examples of Parity Reserve Account in a sentence

  • If a Series of Notes is secured by a Special Reserve Account or is not secured by any debt service Reserve Account, such Series of Notes shall have no claim on the Parity Reserve Account or any other Special Reserve Account.

  • The Supplemental Trust Agreement may determine to use the Parity Reserve Account or to establish a Special Reserve Account for such Series of Notes and fix the provisions with respect thereto or not to establish any debt service reserve account.

  • Any deficiency in the Parity Reserve Account resulting from a draw on a Reserve Alternative Instrument shall be made up as provided in such Reserve Alternative Instrument or documentation relating thereto, but any such deficiency must be made up by not later than the final date when such deficiency would have been required to be made up if there had been a withdrawal of moneys from the Parity Reserve Account rather than a draw on a Reserve Alternative Instrument.

  • Cash or Permitted Investments on deposit in the Parity Reserve Account shall be used to satisfy deficiencies, prior to any draw on a Reserve Alternative Instrument.


More Definitions of Parity Reserve Account

Parity Reserve Account means the account created and so designated by Section 5.06 of this Master Trust Agreement.
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Parity Reserve Account means the account in the Reserve Fund so designated and established pursuant to Section 5.2.
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Parity Reserve Account means the account within the Debt Service Reserve Fund created pursuant to Section 5.02.
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Related to Parity Reserve Account

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Interest Reserve Account” and which shall be an Eligible Account.

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

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

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.