Pledged Reserves Account Funds definition

Pledged Reserves Account Funds means at any time the aggregate amount of proceeds of Loans borrowed hereunder for the purpose of establishing or maintaining Permitted Reserves, such proceeds to be deposited in the Pledged Reserves Account in accordance with Section 2.1(b) of the Security Agreement.
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Examples of Pledged Reserves Account Funds in a sentence

  • On each Pledged Reserve Repayment Date, an amount equal to 100% of the Pledged Reserves Account Funds with respect to which the Borrower has delivered a Pledged Reserve Release Notice as required by Section 8.11 shall be applied as a mandatory prepayment of principal of outstanding Loans.

  • On each Pledged Reserve Repayment Date, an amount equal to 100% of the Pledged Reserves Account Funds with respect to which the Borrower has delivered a Pledged Reserve Release Notice as required by Section 7.11 shall be applied as a mandatory prepayment of principal of outstanding Loans.

  • On each Pledged Reserve --------------------- Repayment Date, an amount equal to 100% of the Pledged Reserves Account Funds with respect to which the Borrower has delivered a Pledged Reserve Release Notice as required by Section 8.12 shall be applied as a mandatory prepayment of principal of outstanding Loans.

  • On each Pledged Reserve Repayment Date, an amount equal to 100% of the Pledged Reserves Account Funds with respect to which the Borrower has delivered a Pledged Reserve Release Notice as required by Section 8.12 shall be applied as a mandatory prepayment of principal of outstanding Loans.