TIFIA Reserve Account definition

TIFIA Reserve Account means the special account of the Borrower created by the TIFIA Refinancing Resolution for the sole benefit of the TIFIA Lender in connection with the TIFIA Bond and the Other TIFIA Bonds.
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TIFIA Reserve Account has the meaning set forthprovided in the TIFIA Bond Resolution.
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TIFIA Reserve Account has the meaning provided in the Existing TIFIA Loan Agreements.
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Examples of TIFIA Reserve Account in a sentence

  • With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit.

  • Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence.

  • So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments.

  • Except for Permitted Liens, the Borrower shall not create, incur, assume or permit to exist any Lien (i) on the Pledged Taxes or the Borrower’s or the TIFIA Lender’s rights in respect thereof or (ii) on the TIFIA Debt Service Account, the TIFIA Reserve Account, the Revenue Sharing Account or any Construction Account.

  • Amounts on deposit in the TIFIA Reserve Account shall be made available to ensure the timely payment of TIFIA Debt Service on the TIFIA Loan and debt service in respect of Other TIFIA Bonds, in each case as needed, and shall not be available to pay any other obligations owed by the Borrower to any other Person.

  • If any funds on deposit in the TIFIA Reserve Account are drawn upon to pay TIFIA Debt Service due on any Semi-Annual Payment Date, the Borrower shall restore such funds on deposit in the TIFIA Reserve Account to the TIFIA Reserve Account Requirement no later than the next succeeding Semi-Annual Payment Date.

  • Payment of the obligations of the Borrower under this TIFIA Bond is secured by and payable from (i) the Pledged Taxes and (ii) the amounts, if any, in the TIFIA Debt Service Account, the TIFIA Reserve Account and the Construction Account related to such TIFIA Loan, in each case pursuant to the Bond Documents, including the TIFIA MCA Master Resolution.

  • Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi- Annual Payment Date following such occurrence.

  • So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account (subject to transfers required under this Section 15(k)(ii)) and shall be invested only in Permitted Investments.

  • Except as may be entitled to priority as a matter of law, the TIFIA Debt Service Account, the TIFIA Reserve Account, the Revenue Sharing Account and each Construction Account shall be free and clear of any Lien thereon or with respect thereto, and all corporate action on the part of the Borrower to that end has been duly and validly taken.

Related to TIFIA Reserve Account

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

  • 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.

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

  • 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.

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

  • 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.

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

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

  • 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.

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

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

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

  • Initial Reserve Account Deposit means $3,250,000.

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

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2005-3". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • 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.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • 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.

  • 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.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in