Restricted Funds definition
Examples of Restricted Funds in a sentence
In the event an Advance is due and payable to Airbus in accordance with the Assigned Purchase Agreement, the Administrative Agent shall, following receipt of written request from the Borrower not less than [***] prior to such payment date, release Restricted Funds to the Borrower in the amount of such Advance, not less than [***] prior to such payment date; provided, that if any Restricted Funds are not released within [***] of deposit, such funds shall promptly be deposited in a Cash Collateral Account.
The amount of any Restricted Funds shall be deemed a prepayment of the Loans and shall reduce the outstanding principal amount of the Loans; provided, that any Restricted Funds shall bear interest at a rate per annum equal to the Restricted Account Rate and the Borrower shall pay to the Administrative Agent, in arrears, interest accrued on any Restricted Funds on each applicable Interest Payment Date.