Senior Notes Interest Reserve Accounts definition

Senior Notes Interest Reserve Accounts has the meaning set forth in Section 5.2(a) of the Base Indenture.
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Senior Notes Interest Reserve Accounts. The Senior Notes Interest Reserve Accounts shall be Eligible Accounts.
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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.
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Examples of Senior Notes Interest Reserve Accounts in a sentence

  • In the absence of written investment instructions hereunder, funds on deposit in the Senior Notes Interest Reserve Accounts shall remain uninvested.

  • The Senior Notes Interest Reserve Accounts shall be Eligible Accounts.

  • All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Senior Notes Interest Reserve Accounts shall be deemed to be Investment Income on deposit for distribution to the applicable Collection Account in accordance with Section 5.10.

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  • The amounts on deposit in any such Senior Notes Interest Reserve Account shall not be subject to any limitations (other than the balance in such account not exceeding the Manager’s reasonable estimate of the amounts required to meet any such exemptions), except that the aggregate amount held on deposit in the Senior Notes Interest Reserve Accounts shall at all times be equal to or greater than the Senior Notes Interest Reserve Amount.

  • All interest and earnings (net of losses and investment expenses) paid on funds on deposit in the Senior Notes Interest Reserve Accounts shall be deemed to be Investment Income on deposit for distribution to the Collection Account in accordance with Section 5.10(e)(ii).

  • 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 Original 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.

  • Following the Original 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 Original Closing Date.

  • All income or other gain from such Eligible Investments shall be credited to the Senior Notes Interest Reserve Accounts, and any loss resulting from such Eligible Investments shall be charged to the Senior Notes Interest Reserve Accounts.

Related to Senior Notes Interest Reserve Accounts

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

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

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • 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.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • 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.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • 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.]

  • 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.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Swap Account The account or accounts created and maintained pursuant to Section 4.08. The Swap Account must be an Eligible Account.