Permitted Accruals definition
Examples of Permitted Accruals in a sentence
On each Payment Date, such amounts as are provided in Section 3.08 hereof in respect of the Required Expense Amount and Permitted Accruals shall be deposited into the Expense Account from the Collections Account.
On each Payment Date, such amounts as are provided in Section 3.09 in respect of the Required Expense Amount and Permitted Accruals shall be deposited into the Expense Account from the Collections Account.
On any Business Day, the Administrative Agent, on behalf of the Security Trustee, shall withdraw from time to time from the Permitted Accruals on deposit in the Expense Account and, to the extent permitted under Section 3.08(a) hereof, such other amounts as may be necessary from the Collection Account to pay amounts due and owing in respect of a Modification Payment and shall transfer such amounts to the appropriate payees.
On any Business Day, the Cash Manager, on behalf of the Security Trustee, shall withdraw from time to time from the Permitted Accruals on deposit in the Expense Account and, to the extent permitted under Section 3.08(a) hereof, such other amounts as may be necessary from the Collection Account to pay amounts due and owing in respect of a Modification Payment and shall transfer such amounts to the appropriate payees.
The Administrative Agent may, but shall not be required to, maintain in the Expense Account a balance containing accruals in respect of Expenses that are not regular, monthly recurring Expenses, including Modification Payments and Refinancing Expenses, if any, of MSAF Group anticipated to become due and payable in any future Interest Accrual Period (the "Permitted Accruals").
The Cash Manager may, but shall not be required to, maintain in the Expense Account a balance containing accruals in respect of Expenses that are not regular, monthly recurring Expenses, including Modification Payments and Refinancing Expenses, if any, of AerCo Group anticipated to become due and payable in any future Interest Accrual Period (the "Permitted Accruals").
The Cash Manager shall authorize payment of certain bills and expenses (i) payable to legal and professional advisers authorized to be engaged or consulted pursuant to this Agreement or any other Related Document, (ii) to the extent required by the terms of the Servicing Agreement or the Indenture or (iii) approved by the Board in writing and to determine the Required Expense Amount and the amount of Permitted Accruals determined in accordance with the Indenture.