Secured Liquidity Note Account definition

Secured Liquidity Note Account has the meaning set forth in Section 2 of the Depositary Agreement.
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Secured Liquidity Note Account. The Collateral Agent has opened a segregated non-interest bearing trust account, pursuant to Section 6.01 of the Security Agreement (the “Collateral Account”), which shall be under the Collateral Agent’s exclusive dominion and control. The Depositary shall have exclusive dominion and control and sole right of deposit and withdrawal over the Secured Liquidity Note Account. The Depositary shall keep accurate records of the date and amount of each deposit in the Secured Liquidity Note Account and each disbursement from the Secured Liquidity Note Account for a period of three years following the date of such deposit or disbursement. The Issuer hereby irrevocably acknowledges and agrees with the Depositary that the Depositary shall have complete and absolute control over the Secured Liquidity Note Account and any and all funds on deposit in, or otherwise to the credit of, the Secured Liquidity Note Account and that the Issuer shall not have any legal, equitable or beneficial interest in the Secured Liquidity Note Account. Amounts on deposit in the Secured Liquidity Note Account shall be applied by the Depositary solely to pay matured and then maturing Secured Liquidity Notes and any advances made by the Depositary in accordance herewith. The Depositary agrees to give the Issuer, the Collateral Agent, each Swap Counterparty and each SLN Placement Agent, as soon as practicable, written notice that the Secured Liquidity Note Account or any funds on deposit in the Secured Liquidity Note Account have become subject to any writ, judgment, warrant of attachment, execution or similar process to the actual knowledge of an officer of the Depositary assigned to the Depositary’s corporate trust department.
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Examples of Secured Liquidity Note Account in a sentence

  • The Depositary shall keep accurate records of the date and amount of each deposit in the Secured Liquidity Note Account and each disbursement from the Secured Liquidity Note Account for a period of three years following the date of such deposit or disbursement.

  • The Depositary shall have exclusive dominion and control and sole right of deposit and withdrawal over the Secured Liquidity Note Account.

  • The Depositary agrees to give the Issuer, the Collateral Agent, each Swap Counterparty and each SLN Placement Agent, as soon as practicable, written notice that the Secured Liquidity Note Account or any funds on deposit in the Secured Liquidity Note Account have become subject to any writ, judgment, warrant of attachment, execution or similar process to the actual knowledge of an officer of the Depositary assigned to the Depositary’s corporate trust department.

  • The Issuer hereby irrevocably acknowledges and agrees with the Depositary that the Depositary shall have complete and absolute control over the Secured Liquidity Note Account and any and all funds on deposit in, or otherwise to the credit of, the Secured Liquidity Note Account and that the Issuer shall not have any legal, equitable or beneficial interest in the Secured Liquidity Note Account.

  • Amounts on deposit in the Secured Liquidity Note Account shall be applied by the Depositary solely to pay matured and then maturing Secured Liquidity Notes and any advances made by the Depositary in accordance herewith.

  • The Reserve Fund, the Collateral Account, the Collection Account, the Extended Notes Distribution Account and the Secured Liquidity Note Account, and any funds on deposit in, or otherwise to the credit of, the Reserve Fund, Collateral Account, the Collection Account, the Extended Notes Distribution Account and the Secured Liquidity Note Account shall not be subject to any writ, order, stay, judgment, warrant of attachment or execution or similar process.

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  • Except for the Collateral Account, the Reserve Fund, the Collection Account, the Allocated Expenses Account, the Secured Liquidity Note Account, the Extended Notes Distribution Account and the accounts established pursuant to the Indenture, the Issuer agrees that it will not open or maintain a bank account with any Person.

  • Upon the conversion of such Secured Liquidity Notes, the amount on deposit in the Secured Liquidity Note Account in respect of such converted Secured Liquidity Notes shall be transferred to the Collateral Account by the Depositary, and the Depositary shall not apply any amount on deposit in the Secured Liquidity Note Account to the payment of such converted Secured Liquidity Notes.

  • The Collateral Account, the Collection Account, the Allocated Expense Account, the Extended Note Distribution Account and the Secured Liquidity Note Account shall have been established.

Related to Secured Liquidity Note Account

  • Note Account As defined in the Indenture.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Class B Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • Secured Amounts means all money and amounts, including interest or payments in the nature of interest, that the Customer is or may become liable at any time to pay to or for the account of the Secured Party and includes money and amounts:

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

  • 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.]

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • ABLE account or "account" means an account established

  • 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.

  • 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.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent) or if not rated, determined by the Adviser to be of comparable quality.

  • Credit Account is modified to read “Grant Account”.

  • Deposit Secured Loan means a loan in which the only collateral securing the loan is Assumed Deposits or deposits at other insured depository institutions

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

  • 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.