Repayment Reserve Account definition

Repayment Reserve Account means the account opened and maintained in the Facility Agent by the Borrower for the purpose of collecting all income incurred from or related to the Project, including without limitation the revenue incurred by claim under the construction contract, management contract or other relevant contracts and all income received or receivable once the Project is put into the normal production.
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Examples of Repayment Reserve Account in a sentence

  • Repayment Reserve Account Holder: _ / Account Number: / □ The proportion of the income cash flow of the fixed asset investment project / □ borrower involved in this Agreement into the above repayment reserve account is: / ; The average of funds in the above repayment reserve account is: / .

  • If the Borrower fails to repay in time any amount due and payable under the Finance Documents, the Borrower hereby irrevocably authorizes the Facility Agent to withdraw from the Repayment Reserve Account relevant amount and use such amount towards repaying or setting off the obligations due and payable by the Borrower under the Finance Documents.

  • Party A shall open a Repayment Reserve Account in Party B or use the existing account (Account No.: 12001835100052506057) in Party B as the Repayment Reserve Account within thirty business days following the effective date hereof.

  • Party A shall deposit a sufficient amount for current repayment in the Repayment Reserve Account or other accounts opened in Party B and automatically transfer the amount to repay the loan before the agreed repayment date hereof (Party B is entitled to transfer the amount from the foregoing accounts), or transfer the amount for repayment in other accounts on the agreed date hereof.

  • Amounts credited to the Debt Repayment Reserve Account equal to the then applicable Debt Repayment Reserve Account Requirement” shall constitute cash under the exclusive control of Lender and amounts credited to the Debt Repayment Reserve Account in excess of the then applicable Debt Repayment Reserve Account Requirement shall not be under the exclusive control of the Lender unless an Event of Default shall have occurred and be continuing.

  • The Borrower shall designate the Repayment Reserve Account as its account for collecting 80% of all account receivables related to sales of products, and provide the Facility Agent with the statements in respect of other account related to the receivables of the Project as reasonably requested by the Lenders (through the Facility Agent).