Reserve Account Contract definition

Reserve Account Contract means a surety bond, insurance policy, letter of credit, investment agreement, investment contract or similar instrument.
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Reserve Account Contract means an insurance policy or surety bond issued by an entity rated in the highest rating category by a nationally recognized rating agency for the purpose of meeting all or any portion of the Required Reserve.
Sample 1
Reserve Account Contract means a surety bond, insurance policy, letter of credit, investment agreement, investment contract or similar instrument obtained for the purpose of meeting all or any portion of the Reserve Account Requirement, which term shall include without limitation the Surety Policy.
Sample 1

Examples of Reserve Account Contract in a sentence

  • If the Group could recognize all deferred tax assets, the amount would total R$ 24,226.

  • We have attached a completed corporate account resolution.The undersigned acknowledges and agrees to all the terms and conditions in this Church Reserve Account Investment Application and Agreement, the Offering Circular and the Church Reserve Account Contract of Investment.Signature of Authorized Signer and Official Title DateSignature of Authorized Signer and Official Title Date RESOLUTION OF CORPORATION AUTHORITY TO ENTER INTO INVESTMENT AGREEMENTSWITH THE MISSIONARY CHURCH INVESTMENT FOUNDATION, INC.

  • Indeed, Section 4.15 of the Servicing Agreement provides expressly:If at any time any issuer of a Reserve Account Contract shall no longer have such required debt rating, the Borrower shall, at its option, within 10 Business Days after notice from the Lender or Servicer, either cause a replacement Reserve Account Contract to be issued by an issuer .

  • Defendant contests the allegation that it must replace the Reserve Account Contract or expend cash to fund the Loan Reserve Account, contending that plaintiff’s “claims are meritless,” Doc.

  • Any moneys withdrawn from any Debt Service Reserve Account in connection with the deposit of a Debt Service Reserve Account Contract therein shall be deposited into any Account included in the Trust Estate, except the System Surplus Account, as directed by the Transportation Enterprise.

  • Any moneys withdrawn from any Debt Service Reserve Account in connection with the deposit of a Debt Service Reserve Account Contract therein shall be deposited into any Account included in the Trust Estate, except the Surplus Account, as directed by the Transportation Enterprise subject to opinion of Bond Counsel that the application of such moneys in such other Account will not cause an Adverse Tax Event.

  • If defendant elects to fund the Loan Reserve Account with a Reserve Account Contract, Section 4.15 of the Servicing Agreement requires it be an instrument “issued by an obligor .

  • In its Complaint, plaintiff seeks an order compelling defendant to replace a Reserve Account Contract which, plaintiff contends, no longer carries the minimum credit rating the Servicing Agreement requires.

  • Moneys on deposit in the Reserve Account, proceeds of the liquidation of Permitted Investments on deposit in the Reserve Account or moneys available from a Reserve Account Contract shall be transferred to the Bond Account on any date on which a payment of principal of, premium, if any, or interest on the Bonds is due to the extent the amount on deposit in the Bond Account is insufficient to make such payment.

  • The Reserve Account Contract must be issued by an obligor whose obligations such as the Reserve Account Contract are either (A) rated “AA” by a Rating Agency or (B) if a rating has been obtained on the Bonds, whose obligations are rated by each Rating Agency that then maintains a rating on the Bonds in a category (or comparable classification) equal to or higher than the category, if any, in which the Bonds are rated, or will not impact the rating on the Bonds.

Related to Reserve Account Contract

  • Deposit Account Control Agreement means an agreement, in form and substance satisfactory to the Agent (in its Permitted Discretion), among any Loan Party, a banking institution holding such Loan Party’s funds, and the Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Loan Party with such banking institution, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

  • 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).

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