Senior Lien Interest Account definition

Senior Lien Interest Account means the account of that name established within the Senior Lien Debt Service Fund pursuant to Section 7.05 hereof.
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Senior Lien Interest Account an account in the Senior Lien Debt Service Fund created by Section 503. "Senior Lien Obligations" – Obligation or obligations, including any Senior Lien Credit Agreement, issued, incurred or entered into pursuant to Section 207 as Senior Lien Obligations, or all of the foregoing, as the case may be, authorized by law and issued under and secured by the provisions of this Master Trust Agreement and any Supplemental Agreement. "Senior Lien Payment Obligations" – unless otherwise specifically stated in a Supplemental Agreement, all amounts payable by the Corporation under a Senior Lien Credit Agreement less any amounts of Principal or interest payable with respect to any Senior Lien Obligations pledged under a Senior Lien Credit Agreement as collateral for the amounts due thereunder and any payment obligations evidenced by a Senior Lien Obligation; and all such Senior Lien Payment Obligation payments shall be deemed to constitute Principal payments of Senior Lien Obligations, and shall be paid from the Senior Lien Principal/Redemption Account as provided in Section 507(a); provided, however, that, if so provided in a Senior Lien Credit Agreement or in the proceedings approved by the Corporation in connection therewith, some or all of the amounts payable under a Senior Lien Credit Agreement may be designated to be Subordinate Lien Payment Obligations. "Senior Lien Principal/Redemption Account" – an account in the Senior Lien Debt Service Fund created by Section 503. "Senior Lien Reserve Account" – an account in the Senior Lien Debt Service Fund created by Section 503. "Series" – one or more Obligations issued at the same time and having the same parity insofar as the lien of the Trust Estate is concerned and any Obligations thereafter authenticated and delivered in lieu of or in substitution for such Obligations, or sharing some other common term or characteristic, and designated as a separate Series of Obligations. "Short-Term Indebtedness" – all Obligations that mature in less than 365 days and are issued as Short-Term Indebtedness. In the event a Credit Provider has extended a line of credit or the Corporation has undertaken a commercial paper, one year or less revolving note or similar programs, only amounts actually borrowed under such line of credit or program and repayable in less than 365 days shall be considered Short-Term Indebtedness and the full amount of such commitment or program shall not be treated as Short-Term Indebtedness to the extent that ...
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Senior Lien Interest Account means the account so established within the Debt Service Fund for Senior Xxxx Xxxxx of the District by Section 501.
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Examples of Senior Lien Interest Account in a sentence

  • A separate Subaccount to be held by the Trustee is hereby created within the Senior Lien Interest Account of the Senior Lien Debt Service Fund to be designated as the “Series 2017 Subaccount of the Senior Lien Interest Account.” Amounts in the Series 2017 Subaccount of the Senior Lien Interest Account shall be disbursed to pay interest on the Series 2017 Bonds pursuant to the Indenture and this First Supplemental Indenture.

  • Earnings on all other amounts in the Series 2017 Subaccount of the Senior Lien Interest Account shall be retained in such Subaccount.

  • The Trustee shall establish separate subaccounts in the Series 2017 Subaccount of the Senior Lien Interest Account for each source of deposit (including any investment income thereon) made into the Series 2017 Subaccount of the Senior Lien Interest Account so that the Trustee may at all times ascertain the date of deposit, the amounts, and the source of the funds in each subaccount.

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  • The moneys in the Senior Lien Interest Account and Senior Lien Principal Account shall be under the control of the Trustee in trust for the benefit of the Senior Lien Bonds, to the extent the foregoing are payable from such accounts, and, to said extent and pending application, shall be subject to a lien and charge in favor of the Secured Owners of the Senior Lien Bonds until paid out or transferred as hereinafter provided.

  • There shall be paid from the Senior Lien Interest Account and the Senior Lien Principal Account from time to time, the interest on and the principal of and premium on the Senior Lien Obligations as the same shall become due, except to the extent such interest, principal or premium are payable from a fund or account other than the Senior Lien Debt Service Fund as provided in any Supplemental Indenture.


More Definitions of Senior Lien Interest Account

Senior Lien Interest Account means the account in the Senior Lien Debt Service Fund created and so designated pursuant to Section 4.2.
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Related to Senior Lien Interest Account

  • Junior Lien Intercreditor Agreement means an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent between the Administrative Agent and one or more collateral agents or representatives for the holders of Indebtedness that is secured by a Lien on the Collateral ranking junior to the Liens of the Loan Documents.

  • 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.]

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • First Lien/First Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Capitalized Interest Account The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.

  • Second Lien Intercreditor Agreement means a “junior lien” Intercreditor Agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, among the Administrative Agent and one or more Designated Representatives for holders of Alternative Incremental Facility Indebtedness or Permitted Junior Secured Refinancing Debt.

  • Aggregate Noteholders’ Priority Principal Distributable Amount With respect to any Distribution Date, the sum of (i) the First Priority Principal Distributable Amount, (ii) the Second Priority Principal Distributable Amount, (iii) the Third Priority Principal Distributable Amount and (iv) the Fourth Priority Principal Distributable Amount, each as of such Distribution Date. Aggregate Principal Balance of Non-Subvented Receivables: As of any date, the present value as of such date of all scheduled monthly payments on all of the Non-Subvented Receivables (other than Liquidating Receivables) held by the Issuing Entity on such date which have not been applied on or prior to such date (determined after taking into account any Warranty Payments and Administrative Purchase Payments in respect of such Receivables), with each Receivable being discounted from the last day of the calendar month in which payments are to become due to such date at the greater of the Discount Rate and the Annual Percentage Rate.

  • First Lien Intercreditor Agreement means an Intercreditor Agreement substantially in the form of Exhibit L among the Administrative Agent, the Collateral Agent and the representatives for purposes thereof for any other First Lien Secured Parties, with such changes thereto as may be reasonably acceptable to the Administrative Agent; provided that such changes are not materially adverse to the Lenders.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Collateral Interest Amount As of any date of determination, without duplication, the aggregate amount of Interest Proceeds that has been received or that is expected to be received (other than Interest Proceeds expected to be received from Defaulted Obligations, but including Interest Proceeds actually received from Defaulted Obligations), in each case during the Collection Period in which such date of determination occurs (or after such Collection Period but on or prior to the related Payment Date if such Interest Proceeds would be treated as Interest Proceeds with respect to such Collection Period).

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Junior Lien Documents means, collectively any indenture, credit agreement or other agreement governing each Series of Junior Lien Debt and the security documents related thereto.

  • First Priority Principal Distributable Amount With respect to any Distribution Date, an amount equal to the excess, if any, of (i) the aggregate outstanding principal balance of the Class A Notes as of the preceding Distribution Date (after giving effect to any principal payments made on the Class A Notes on such preceding Distribution Date) over (ii) the Aggregate Receivables Principal Balance as of the close of business on the last day of the immediately preceding Monthly Period.

  • Note Account As defined in the Indenture.

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

  • First Lien Indebtedness means Consolidated Total Indebtedness that is secured by a Lien on the Collateral, except by a Lien that is junior to the Liens on the Collateral securing the First Lien Obligations.

  • First Lien Last Out Loan Any Collateral Obligation that would be a Senior Secured Loan except that, following a default, such Collateral Obligation becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Second Priority Principal Distributable Amount With respect to any Distribution Date, an amount, not less than zero, equal to the difference between (i) the excess, if any, of (a) the aggregate outstanding principal balance of the Class A Notes and the Class B Notes as of the preceding Distribution Date (after giving effect to any principal payments made on the Class A Notes and the Class B Notes on such preceding Distribution Date) over (b) the Aggregate Receivables Principal Balance as of the close of business on the last day of the immediately preceding Monthly Period, and (ii) the First Priority Principal Distributable Amount, if any, with respect to such Distribution Date.

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.

  • Class A Cash Collateral Account means an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it shall so qualify, into which all amounts drawn under the Class A Liquidity Facility pursuant to Section 3.5(c), 3.5(d), 3.5(i) or 3.5(m) shall be deposited.

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

  • Junior Lien Debt means Indebtedness incurred by a Covenant Entity that is secured by a Lien that is junior to the Lien on the Collateral securing the Obligations.