Pool Reserve Account definition

Pool Reserve Account means the account established pursuant to sub-section 4.2 for the purpose of holding a cash deposit which may be used in or towards clearing the Pool Clearing Account in accordance with Section 21;
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Pool Reserve Account shall have the meaning assigned thereto in Section 3.03(d).
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Pool Reserve Account means the account established pursuant to Section 4.2.1(b) of Schedule 11 for the purpose of holding a cash deposit which may be used in or towards clearing the Pool Clearing Account in accordance with Section 21 of Schedule 11;
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Examples of Pool Reserve Account in a sentence

  • If, after the Pool Funds Administrator has either debited the Pool Reserve Account or made a call under a Letter of Credit, the Pool Banker receives the remittance which had not been credited to the Pool Clearing Account by 12.30 hours, then such remittance shall be credited to the Pool Reserve Account.

  • The Company will provide you with the opportunity to participate in the standard benefits plans currently available to other similarly situated employees, including medical, dental, and vision, subject to any eligibility requirements imposed by such plans.

  • The Pool Funds Administrator shall supply full details to each Pool Member, the Ancillary Services Provider and the Grid Operator of the Pool Clearing Account, the Pool Reserve Account and any relevant Collection Account and, for so long as it is maintained, the Pool Borrowing Account and shall supply the Executive Committee with full details of all Pool Accounts and Settlement Accounts.

  • On the next Business Day following receipt of such proceeds, the Pool Funds Administrator shall pay such amounts as have been credited to the Pool Reserve Account to the Pool Creditors whose payments were reduced in full or (as the case may be) in proportion to their respective entitlements including interest on such amounts at the Reserve Interest Rate.

  • If the Executive Committee determines that the Providing Member's Security Cover should be increased, the relevant Providing Member shall, within five Business Days of notice as aforesaid, procure an additional or replacement Letter of Credit or transfer to the Pool Funds Administrator a cash deposit for credit to the Pool Reserve Account in an amount sufficient to increase its Security Amount so as to be at least equal to the level of Security Cover applicable to it.

  • If at any time the Credit Facility ceases to be unconditionally available and paragraph 15.1.2 shall thereupon have become effective, the whole or any part of the Security Cover thereby required to be provided by each Providing Member or the Grid Operator may be provided by a credit to the Pool Reserve Account, unless otherwise determined by the Executive Committee.

  • The Pool Funds Administrator shall consent to an appropriate reduction in the available amount of any outstanding Letter of Credit and/or shall repay to the Providing Member such part of the deposit held in the Pool Reserve Account for the account of such Providing Member (together with all accrued interest on the part to be repaid) sufficient to reduce the Providing Member's Security Amount to the level of Security Cover applicable to it.

  • If at any time the Credit Facility ceases to be unconditionally available and paragraph 15.1.2 shall thereupon have become effective, the whole or any part of the Security Cover thereby required to be provided by each Providing Member may be provided by a credit to the Pool Reserve Account, unless otherwise determined by the Executive Committee.

  • On the next Business Day following receipt of such proceeds, the Pool Funds Administrator shall pay such amounts as have been credited to the Pool Reserve Account to the Pool Creditors whose payments were reduced in full or (as the case may be) in proportion to their respective entitlements including interest on such amounts at the Base Rate (or at such rate as shall be set from time to time by the Executive Committee).


More Definitions of Pool Reserve Account

Pool Reserve Account. As defined in SECTION 3.03(d).
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Related to Pool Reserve Account

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

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Interest Reserve Account As defined in Section 3.4(d).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Initial Reserve Account Deposit means $3,000,000.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

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

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Reserve Account Surplus means, as of any date of determination, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

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

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.