Senior Notes Interest Reserve Account means account no. 00000000 entitled “Citibank, N.A. f/b/o Wendy’s Funding, LLC, Senior Notes Interest Reserve Account”, which account is maintained by the Trustee pursuant to Section 5.2 of the Base Indenture or any successor securities account maintained pursuant to Section 5.2 of the Base Indenture.
Senior Notes Interest Reserve Account has the meaning set forth in Section 5.2(a) of the Base Indenture.
Senior Notes Interest Reserve Account. The Senior Notes Interest Reserve Account shall be an Eligible Account.
Examples of Senior Notes Interest Reserve Account in a sentence
The Senior Notes Interest Reserve Account shall be an Eligible Account.
In the absence of written investment instructions hereunder, funds on deposit in the Senior Notes Interest Reserve Account shall be invested as fully as practicable in one or more Eligible Investments of the type described in clause (b) of the definition thereof.
All income or other gain from such Eligible Investments shall be credited to the Senior Notes Interest Reserve Account, and any loss resulting from such investments shall be charged to the Senior Notes Interest Reserve Account.
All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Senior Notes Interest Reserve Account shall be deemed to be Investment Income on deposit for distribution to the Collection Account in accordance with Section 5.10.
The (i) Trustee (at the direction of the Master Issuer) shall or (ii) the Control Party (at the Master Issuer’s request and on the Master Issuer’s behalf) may submit a notice of drawing under such Interest Reserve Letter of Credit issued by such L/C Provider and the proceeds of any such draw shall be deposited into the Senior Notes Interest Reserve Account or the Senior Subordinated Notes Interest Reserve Account, as applicable.
More Definitions of Senior Notes Interest Reserve Account
Senior Notes Interest Reserve Account and collectively, the “Senior Notes Interest Reserve Accounts”). The Issuer shall cause Taco Xxxx Franchisor and Franchisor Holdco to direct the Trustee to establish and maintain the Senior Notes Interest Reserve Accounts in their name and for their benefit pursuant to Section 3.5(a) of the Guarantee and Collateral Agreement. Following the Closing Date, the Issuer may establish with the Trustee one or more additional accounts to be designated as Senior Notes Interest Reserve Accounts in the name of and for the benefit of any Future Securitization Entity that from time to time acts as the “franchisor” or licensor with respect to Franchise Agreements and/or Development Agreements for the same or similar purposes as the Senior Notes Interest Reserve Accounts established by the Issuer as of the Closing Date. The Issuer shall cause the Future Securitization Entities to direct the Trustee to establish and maintain such additional Senior Notes Interest Reserve Accounts in their name and for their benefit pursuant to Section 3.5(a) of the Guarantee and Collateral Agreement. The Senior Notes Interest Reserve Accounts, as of the Closing Date and at all times thereafter, shall be (A) pledged to the Trustee for the benefit of the Secured Parties pursuant to Section 3.1 or the Guarantee and Collateral Agreement and (B) if not established with the Trustee, subject to an Account Control Agreement. Each Senior Notes Interest Reserve Account shall be an Eligible Account.
Senior Notes Interest Reserve Account means account no. 11312200 entitled “Citibank, N.A. f/b/o IHOP Franchisor LLC – Senior Notes Interest Reserve Account” maintained by the Trustee pursuant to Section 5.2(a) of the Base Indenture or any successor securities account maintained pursuant to Section 5.2(a) of the Base Indenture.
Senior Notes Interest Reserve Account. The Senior Notes Interest Reserve Account shall be an Eligible Account. If the Senior Notes Interest Reserve Account is at any time no longer an Eligible Account, the Master Issuer shall, within five (5) Business Days of obtaining knowledge that the Senior Notes Interest Reserve Account is no longer an Eligible Account, notify the Control Party and establish a new Senior Notes Interest Reserve Account that is an Eligible Account. If a new Senior Notes Interest Reserve Account is established the Master Issuer shall instruct the Trustee in writing to transfer all cash and investments from the non-qualifying Senior Notes Interest Reserve Account into the new Senior Notes Interest Reserve Account. Initially, the Senior Notes Interest Reserve Account will be established with the Trustee.
Senior Notes Interest Reserve Account. The Senior Notes Interest Reserve Account shall be an Eligible Account. The Issuer shall cause Wingstop Franchisor to direct the Trustee to establish and maintain the Senior Notes Interest Reserve Account in its name and for the benefit of the Senior Noteholders and the Trustee pursuant to Section 3.5(a) of the Guarantee and Collateral Agreement. The Senior Notes Interest Reserve Account, as of the Closing Date and at all times thereafter, shall be (A) pledged to the Trustee for the benefit of the Secured Parties pursuant to Section 3.1 or the Guarantee and Collateral Agreement and (B) if not established with the Trustee, subject to an Account Control Agreement. The Senior Notes Interest Reserve Account shall be an Eligible Account.
Senior Notes Interest Reserve Account. The Senior Notes Interest Reserve Account shall be an Eligible Account. From time to time, the Issuer may draw amounts under Class A-1 Notes for the purpose of funding the Senior Notes Interest Reserve Amount, in whole or in part to the extent and in the manner set forth in the Class A-1 Note Purchase Agreements, which amounts shall be deposited directly to the Senior Notes Interest Reserve Account.
Senior Notes Interest Reserve Account means account no. 12097800 entitled “Citibank, N.A. f/b/o Planet Fitness Master Issuer LLC, Senior Notes Interest Reserve Account”, which account is maintained by the Trustee pursuant to Section 5.3 of the Base Indenture or any successor securities account maintained pursuant to Section 5.3 of the Base Indenture. “Senior Notes Interest Reserve Account Deficiency Amount” means, as of any date of determination the excess, if any, of the Senior Notes Interest Reserve Amount over the sum of (a) the amount on deposit in the Senior Notes Interest Reserve Account and (b) the amount available under any Interest Reserve Letter of Credit relating to the Senior Notes. “Senior Notes Interest Reserve Amount” means, with respect to any Quarterly Payment Date (and any Interim Allocation Date related thereto), an amount equal to the Senior Notes Quarterly Interest Amount due on the next Quarterly Payment Date (assuming (i) that amounts available under each Class A-1 Note at such time (after giving effect to any commitment reductions and corresponding principal payments on such date) are fully drawn and (ii) the rate on each Class A-1 Note is equivalent to the rate on a Class A-2 Note of the same Series of Notes with the shortest time until its Series Anticipated Repayment Date); provided that, with respect to the first Interest Accrual Period following theany Series Closing Date, the Senior Notes Interest Reserve Amount will be anthe amount equal to $21,075,584.69set forth in the Series Supplement with respect to such Series Closing Date. “Senior Notes Post-ARD Contingent Interest Account” has the meaning set forth in Section 5.6 of the Base Indenture “Senior Notes Principal Payment Account” has the meaning set forth in Section 5.7 of the Base Indenture. “Senior Notes Quarterly Interest Amount” means for each Quarterly Payment Date, with respect to each Class of Senior Notes Outstanding, the aggregate amounts identified as the “Senior Notes Quarterly Interest Amount” in the applicable Series Supplement. “Senior Notes Quarterly Interest Shortfall Amount” has the meaning set forth in Section 5.13(a)(iii) of the Base Indenture. “Senior Notes Quarterly Post-ARD Contingent Interest Amount” means for each Quarterly Payment Date, with respect to each Class of Senior Notes Outstanding, the amounts
Senior Notes Interest Reserve Account means account no. 1220600 entitled “Citibank, N.A. f/b/o Different Rules, LLC, Senior Notes Interest Reserve Account”, which account is maintained by the Trustee pursuant to Section 5.03 of this Base Indenture or any successor securities account maintained pursuant to Section 5.03 of this Base Indenture.