Reserve Account definition

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

Reserve Account means the account designated as such, established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

Reserve Account shall have the meaning specified in subsection 4.12(a).

Examples of Reserve Account in a sentence

• Such Interest Reserve Amount shall be transferred to the Collection Account as Interest Proceeds on the Determination Date relating to the first Payment Date unless the Collateral Manager, in its discretion, provides written notice to the Collateral Trustee that such Interest Reserve Amount shall not be so transferred and should instead be held in the Interest Reserve Account for application in accordance with this Section 10.3(e).

• The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2024-3 Certificateholders.

• The Issuer shall direct the Collateral Trustee to make the deposit specified in the Issuer Order delivered pursuant to Section 3.1(xi) to the Interest Reserve Account.

• By the date that is two (2) Business Days prior to the first Payment Date following the Closing Date, all funds in the Expense Reserve Account (after deducting any expenses paid on such Payment Date) will be deposited in the Collection Account as Principal Proceeds and/or Interest Proceeds and the Expense Reserve Account will be closed.

• In accordance with this Indenture and the Account Control Agreement, the Issuer shall, prior to the Closing Date, cause the Collateral Trustee to establish at the Custodian a single, segregated non-interest bearing trust account held in the name of the Issuer, subject to the Lien of this Indenture, which shall be designated as the Expense Reserve Account, which shall be maintained with the Custodian in accordance with the Account Control Agreement.

More Definitions of Reserve Account

Reserve Account. Any of the accounts established and maintained pursuant to Section 3.03(d).

Reserve Account means the account designated as such, established and maintained pursuant to Section 8.2(a)(iii) of the Indenture.

Reserve Account with account number 275176001;

Reserve Account means the account established and maintained as such pursuant to Section 4.7(a) of the Sale and Servicing Agreement.

Reserve Account is defined in Section 4.10(a).

Reserve Account means the account designated as such, established and maintained pursuant to Section 2.3(g) of the Administration Agreement.

Reserve Account. The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 2020-C” with account number 4574278400.