Principal Reserve Account definition

Principal Reserve Account has the meaning set forth in Section 2.13(c).
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Principal Reserve Account. Amounts standing to the credit of the Principal Reserve Account
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Principal Reserve Account means a segregated reserve account in the name of the Borrower with RBS and designated with account number .
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Examples of Principal Reserve Account in a sentence

  • The Notes Payment Account, the Interest Reserve Account and the Principal Reserve Account.

  • The Trustee shall establish and maintain the Interest Reserve Account, the Principal Reserve Account and the Payment Account in the name of the Trustee for the benefit of the Holders of the New Notes.

  • The Trustee shall, from time to time, pursuant to an Issuer Order, transfer amounts representing Collateral Principal Collections from the Collection Account into the ABCP Principal Reserve Account.

  • On the 15th day of each month any earnings (net of losses and investment expenses) on funds or deposits in the Interest Reserve Account or the Principal Reserve Account will be withdrawn from such accounts by the Trustee as directed by the Administrative Agent and paid to the Company, or at the option of the Administrative Agent and the Company retained in the Interest Reserve Account or the Principal Reserve Account, as applicable.

  • On each Payment Date, the funds transferred to the Notes Payment Account from the APH 1-3 Master Collection Account, the Principal Reserve Account and the Interest Reserve Account, as applicable, in accordance with the Priority of Payments shall be applied by the Trustee to make payments to the Noteholders, ratably, of the aggregate payments of principal and interest then due and owing in respect of the Notes on such Payment Date as set forth in the Payment Date Report.

  • The Principal Reserve Account shall be a “securities account” (as defined in Section 8-501 of the UCC) and the Intermediary shall be the “entitlement holder” (as defined in Section 8-102(a)(7) of the UCC).

  • If and when a Cash Management Period occurs and then ends, then so long as no Event of Default exists and is continuing Lender shall, promptly upon Borrower’s written request release any and all amounts on deposit in the Operating Expense Account and the Principal Reserve Account to Borrower free and clear of Lender’s Lien and security interest.

  • All amounts held in the Interest Reserve Account and the Principal Reserve Account shall be invested in Cash Equivalents by the Trustee, at the written direction of the Administrative Agent, in each case such investments must mature not later than the 15th day of the following month.

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  • Agemark will not spend more than $15,000 annually per Agemark Facility from the Principal Reserve Account without the written consent of the holder of the Agemark Notes, which will not be unreasonably withheld.


More Definitions of Principal Reserve Account

Principal Reserve Account. (the "Principal Reserve Account"). On any Payment Date after and for so long as the Debt Service Coverage Test or the Additional Resort Coverage Test, if applicable, has not been satisfied, Lender or its servicer shall deposit, to the extent of available funds pursuant to Section 2.12(b), into the Operating Expense Account an amount equal to Monthly Property Expenses and into the Principal Reserve Account any remaining available funds then on deposit in the Collection Account pursuant to clause sixth of Section 2.12(b). Any and all Moneys remitted to the Operating Expense Account or the Principal Reserve Account shall be held in the Operating Expense Account or Principal Reserve Account, as applicable, and applied,
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Principal Reserve Account. The trust account defined in and established pursuant to Section 10.3(b).
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Principal Reserve Account means the account of the Issuer held with the Account Bank, where amounts of Principal Proceeds or Interest Proceeds may from time to time be deposited and disbursed in accordance with the Priorities of Payment.
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Principal Reserve Account shall have the meaning set forth in Section 4.1.
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Related to Principal Reserve Account

  • 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 2005-3". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • 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).

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

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

  • 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.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • 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.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • 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 Amount means an amount equal to $1,030,941.16.

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

  • 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.

  • 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.

  • Initial Reserve Account Deposit means $3,250,000.

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

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • 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 Surplus means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • 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).

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

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

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.