Restricted Payment Account definition

Restricted Payment Account means an account designated as such to be established and maintained in accordance with the Accounts Agreement, including any subaccounts.
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Restricted Payment Account collectively or individually, as applicable, the Restricted Payment Account (as such term is defined in the Offshore Accounts Agreement) or the Cuenta de Pagos Restringidos (as such term is defined in the Onshore Trust Agreement);
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Restricted Payment Account has the meaning assigned to such term in Section 2.02(a)(v).
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Examples of Restricted Payment Account in a sentence

  • Borrower hereby further consents to the application of $300,000 (such amount constituting the proceeds of the Restricted Payment Account) to the reduction of the Revolving Credit Loans.

  • The remaining proceeds of the Growth Capital Account and the Restricted Payment Account, in the approximate amount of $4,000,000 plus accrued residual interest thereon, shall be held by Lender for its own account and may be applied to the Obligations immediately upon a Default or an Event of Default.

  • From time to time after funds are deposited in the Restricted Payment Account, the Administrative Agent may apply funds then held in such Restricted Payment Account to the payment of Obligations in accordance with the terms of this Agreement.

  • Following full and indefeasible payment in cash of all Obligations including, without limitation, Lender's fees and expenses, Lender shall return the remaining balance (if any) of the proceeds from the Growth Capital Account and Restricted Payment Account to the Borrower.

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  • The Administrative Agent may apply amounts in the Restricted Payment Account to the payment of any amounts due and payable pursuant to this Section 2.6.

  • Borrower and Guarantor each hereby consents to the application of the proceeds of the Growth Capital Account and the Restricted Payment Account as a permanent reduction of the Term Loan.

  • The Administrative Agent may apply amounts in the Restricted Payment Account to the payment of any amounts due and payable pursuant to this Section 2.8.

  • The Administrative Agent may apply amounts in the Restricted Payment Account to the payment of any amounts due and payable pursuant to this Section 2.9.

  • Any amounts transferred from the Operating Account pursuant to Section 4.02(b)(vii) shall be deposited by Depository Bank into the Restricted Payment Account pursuant to an Executed Withdrawal/Transfer Certificate delivered by Borrower.


More Definitions of Restricted Payment Account

Restricted Payment Account means that certain lockbox account of the Borrower that is a Controlled Deposit Account established for the purposes of holding all distributions from White Cliffs to the Borrower, all proceeds of any Permitted Option Transfer and the CapEx Reserve and the Litigation Reserve.
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Restricted Payment Account is defined in the Accounts Agreement.
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Related to Restricted Payment Account

  • Restricted Payments as defined in Section 7.6.

  • Restricted Payment Conditions is defined in Section 10.9.

  • Permitted Restricted Payments means any of the following Restricted Payments made by:

  • Deferred Payment Date for a Participant means the date after the Restricted Period in respect of Restricted Share Units which is the earlier of (i) the date which the Participant has elected to defer receipt of the underlying Shares in accordance with Section 4.5 of this Plan; and (ii) the Participant's Separation Date.

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower.

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Excluded Payments means (i) indemnity payments paid or payable by Lessee to or in respect of Owner Participant, or Owner Trustee in its individual capacity, their respective Affiliates, successors and permitted assigns and their directors, officers, employees, servants and agents pursuant to Section 9 of the Participation Agreement or any corresponding payments under the Lease, (ii) proceeds of public liability insurance paid or payable as a result of insurance claims made, or losses suffered, by Owner Trustee in its individual capacity or by Owner Participant, that are payable directly to Owner Trustee in its individual capacity, or Owner Participant, respectively, for their own account, (iii) proceeds of insurance maintained with respect to the Aircraft by Owner Participant or any Affiliate thereof for its or their own account or benefit (whether directly or through Owner Trustee) and permitted under Section 11.2 of the Lease, (iv) all payments required to be made under the Tax Indemnity Agreement by Lessee whether or not denominated as Supplemental Rent, (v) any Transaction Expenses paid or payable by the Lessee to the Owner Trustee (to the extent for its sole benefit) or the Owner Participant pursuant to the Lease or the Participation Agreement, (vi) any amount payable to the Owner Participant by any transferee as the purchase price of the Owner Participant's interest in the Trust Estate, (vii) any interest that pursuant to the Operative Agreements may from time to time accrue in respect of any of the amounts described in clauses (i) through (vi) above, (viii) any right to enforce the payment of any amount described in clauses (i) through (vii) above (PROVIDED, that the rights referred to in this clause (viii) shall not be deemed to include the exercise of any remedies provided for in the Lease other than the right to xxx for specific performance of any covenant to make such payment or to xxx for damages in respect of the breach of any such covenant) and (ix) any right to exercise any election or option or make any decision or determination, or to give or receive any notice, consent, waiver or approval, or to take any other action in respect of, but in each case, only to the extent relating to, any Excluded Payments.

  • Permitted Payment as defined in Subsection 8.2(b).

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Restricted Payment Transaction means any Restricted Payment permitted pursuant to Section 409, any Permitted Payment, any Permitted Investment, or any transaction specifically excluded from the definition of the term “Restricted Payment” (including pursuant to the exception contained in clause (i) and the parenthetical exclusions contained in clauses (ii) and (iii) of such definition).

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Reinvestment Deferred Amount with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection therewith that are not applied to prepay the Loans pursuant to Section 2.10(b) as a result of the delivery of a Reinvestment Notice.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Restricted Debt Payments has the meaning set forth in Section 6.04(b).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.