Examples of Thermo Contingent Equity Account in a sentence
The sum of the Thermo Contingent Equity Account and the Borrower Contingent Equity Account is at any time prior to the Contingent Equity Release Date less than the Contingent Equity Required Balance.
For the avoidance of doubt, no transfer from the Thermo Contingent Equity Account to the relevant account of the Launch Services Provider will be permitted unless the Borrower has complied with all the terms and conditions set out in clause 6 (Thermo Contingency Equity Account) of the Accounts Agreement other than as waived pursuant to this Letter.
Thermo may withdraw from the Thermo Contingent Equity Account an amount in aggregate up to a Thermo Amount upon or after each occasion on which the Borrower Contingent Equity Account has been credited with a Thermo Amount provided no Default has occurred and is continuing.
Thermo shall ensure that no later than Financial Close until the Contingent Equity Release Date, funds are deposited in the Thermo Contingent Equity Account to ensure that the cash balance standing to the credit of the Thermo Contingent Equity Account and the Borrower Contingent Equity Account (in aggregate) is not at any time less than the Contingent Equity Required Balance.
On the Contingent Equity Release Date, provided no Default has occurred and is continuing all amounts in the Thermo Contingent Equity Account will be freely available to Thermo to transfer to such account and with such bank as Thermo may specify (or to such other person as required by Applicable Law).
Equity Account and the Borrower Contingent Equity Account) of the Accounts Agreement, no amounts may be withdrawn from the Thermo Contingent Equity Account in accordance with clause 6.3(a)(ii)(B) (Contingent Equity Funding) of the Accounts Agreement if a Default has occurred and is continuing.
Subject to Clause 9.3 (Excess Funding in the Debt Service Reserve Account), if, on any date, the aggregate balance of the Debt Service Account is insufficient to pay Debt Service then due and, only if no funds are available in the Thermo Contingent Equity Account and/or the Borrower Contingent Equity Account, the Borrower shall withdraw cash up to the amount of such shortfall from the Debt Service Reserve Account to pay such Debt Service then due, but not otherwise.
Nothing in this Letter shall constitute or be deemed to constitute a waiver of the rights of any Finance Party under any of the Finance Documents or any amendment of the Finance Documents except as expressly set out in Clauses 2 (Amendments), 4 (US Licence), 5 (Thermo Contingent Equity Account — Cash Requirement), 6 (Payment of Waiver Fees) and 7 (Default) above.
The methods rarely classify a post as crisis, however, causing an increase in the number of misclassi- fications on the 2017 testing data.
The Borrower hereby authorises the payment of the amounts referred to in paragraphs (a) and (b) above by the Offshore Account Bank from the Thermo Contingent Equity Account and the Debt Service Reserve Account respectively.