Reserve Account Pledge definition

Reserve Account Pledge means the account pledge agreement to be entered into by Borrower A in favour of the Security Agent in respect of all amounts from time to time standing to the credit of the Reserve Account.

Examples of Reserve Account Pledge in a sentence

  • Each of the Finance Parties appoints the Security Agent as security agent (in Danish: fuldmægtig) to receive and hold the Reserve Account Pledge, the Inter-company Indebtedness Assignment and any other Danish law Security Documents on behalf of and for the benefit of the Finance Parties and the Security Agent agrees to receive and hold the Reserve Account Pledge, the Inter-company Indebtedness Assignment and the other Danish law Security Documents accordingly.

  • The Trustee and the Company hereby acknowledge and agree that (a) the Trustee holds the Interest Reserve Account and the cash and Cash Equivalents on deposit therein or credited thereto for the equal and ratable benefit of the Holders pursuant to the Interest Reserve Account Pledge Agreement and (b) the Trustee holds, or is the beneficiary of, for the equal and ratable benefit of the Holders, the SQM Pledged Shares pursuant to the Share Pledge Agreement.

  • The balance of the Additional Loan Amount shall be funded into a Project Costs reserve subaccount (the “Project Costs Reserve Account”) established pursuant to the Reserve Account Pledge Agreement.

  • Effective January 1, 2000, Company Contributions and ESOP Contributions, if any, shall become Vested to the Participant on the date such Participant completes three (3) years of Continuous Credited Service (Article II, Section 2).

  • Concurrently with the execution of this Agreement, Borrower shall (1) open the Interest Reserve Account and the Project Costs Reserve Account (collectively, the “Reserve Accounts”) in accordance with the terms of the Reserve Account Pledge Agreement and execute such documents as are reasonably necessary to establish the same and (2) deposit into the Reserve Accounts the funds required to be deposited therein pursuant to this Agreement and the Reserve Account Pledge Agreement.

  • Under the terms of the Interest Reserve Account Pledge Agreement, the Trustee shall have a first priority interest in the cash and Cash Equivalents on deposit in the pledged account for the benefit of the Holders.

  • In accordance with the terms of the Reserve Account Pledge Agreement, Borrower shall irrevocably and unconditionally grant to the Lender, as security for the Loan and the Additional Loan Amount, all of Borrower’s right, title and interest in and to the Reserve Accounts, the funds deposited therein and in and to all investment income earned on the funds in the Reserve Accounts and proceeds thereof.

Related to Reserve Account Pledge

  • Account Pledge means, in relation to each Account, a pledge agreement creating security in respect of that Account in the Agreed Form and, in the plural, means all of them;

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • 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).

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

  • Escrow Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent in respect of a first priority pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Noteholders.

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

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • 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.

  • 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 [*];

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

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

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

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • 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).

  • 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.

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

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

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

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.