Prepayment Subaccount definition

Prepayment Subaccount as defined in the Security Deposit Agreement.
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Prepayment Subaccount as defined in Section 3.1(a).
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Prepayment Subaccount means the subaccount established within the Redemption Account so designated in, and created pursuant to, Section 4.1(d)(iii) hereof.
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Examples of Prepayment Subaccount in a sentence

  • Any amount not transferred from the Prepayment Subaccount, the L/C Cash Collateral Subaccount or the Delay Damages Subaccount pursuant to Section 5.7(c), 5.7(d) or 5.7(e), respectively, on any Special Debt Prepayment Date, L/C Reimbursement Date or any Scheduled Senior Debt Service Payment Date, as the case may be, shall be retained in such Subaccount pending further application pursuant to this Agreement.

  • Upon final disbursement of all amounts on deposit in the Restricted Loan Subaccount, the Collateral Fund Subaccount, and/or the Construction Loan Prepayment Subaccount, the Trustee shall close the Restricted Loan Subaccount, the Collateral Fund Subaccount, and/or the Construction Loan Prepayment Subaccount, as applicable.

  • All such Special Payment Account Deposits received by or on behalf of the Security Agent shall be deposited into the Restoration Subaccount, the Non-Restoration Subaccount, the L/C Cash Collateral Subaccount, the Delay Damages Subaccount or the Prepayment Subaccount, as the case may be, of the Special Payment Account.

  • Any prepayments of Reassessments shall be placed in the Prepayment Subaccount established under and administered in accordance with Section 4.01(A) hereof.

  • Subject to ---------------------------------------------------- compliance with Section 10.2 of the Indenture, Outstanding LIBOR Rate Series 1997-1 Notes shall receive prepayments of principal on any Interest Payment Date from moneys credited to the Series 1997-1 Taxable Special Redemption and Prepayment Subaccount as hereinafter described.

  • Within the Redemption Fund the Finance Director shall establish a Prepayment Subaccount into which shall be placed the proceeds of the prepayment of any Reassessment and which Prepayment Account shall be administered in accordance with the provisions of Section 8767 of the Bond Law.

  • The Construction Loan Prepayment Subaccount shall not be pledged to the payment of the 2020C Bonds and shall not be part of the Trust Estate.

  • The Cash Collateral Amount of the Construction Loan shall be paid in full on the Conversion Date with such amounts on deposit in the Construction Loan Prepayment Subaccount and all security related to the Construction Loan released by the Construction Lender.

  • Until the transfer of funds occurs to the Construction Loan Prepayment Subaccount pursuant to Section 5.4, each deposit into the Collateral Fund Subaccount shall constitute an irrevocable deposit solely for the benefit of the Owners of the 2020C Bonds, subject to the provisions hereof.

  • If any Casualty/Condemnation Prepayment is made on any date other than a Payment date, then such Casualty/Condemnation Prepayment shall be deposited into the Casualty/Condemnation Prepayment Subaccount and applied as a prepayment on the next Payment Date.


More Definitions of Prepayment Subaccount

Prepayment Subaccount has the meaning set forth in Section 4.02(c).
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Related to Prepayment Subaccount

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.