Title XI Reserve Fund definition

Title XI Reserve Fund has the meaning specified in the Financial Agreement.

Title XI Reserve Fund means, with respect to any Person, a fund established by such Person pursuant to the terms of financing documents made or entered into or in effect between such Person and the United States in connection with Indebtedness of such Person that is guaranteed by the United States pursuant to Chapter 537 of Title 46 of the United States Code, as amended.

Title XI Reserve Fund means the Title XI Reserve Fund under and as --------------------- defined or used in the Marad Financing Documents (at the date of this Agreement, at Bancorp South), and composing a portion of the Excluded Assets.

Examples of Title XI Reserve Fund in a sentence

• The Company hereby sells, grants, conveys, mortgages, assigns, transfers, pledges, confirms and sets over to the Secretary a continuing security interest in all of its right, title and interest in and to (1) the Title XI Reserve Fund, and (2) all sums, instruments, moneys, negotiable documents, chattel paper and proceeds thereof currently on deposit, or hereafter deposited in the Title XI Reserve Fund.

• Beginning with the fiscal year in which this Agreement is executed and continuing until all amounts owing under this Agreement and the Floating Rate Note have been paid in full, the Shipowner shall furnish to the Facility Agent (and the Facility Agent, upon receipt thereof, shall furnish to each Lender and the Administrative Agent) a copy of all financial reports furnished to the Secretary pursuant to the Title XI Reserve Fund and Financial Agreement.

• This Title XI Reserve Fund and Financial Agreement hereby adopts and incorporates by reference as fully set forth herein Section 11.07 of the Security Agreement.

• This Title XI Reserve Fund and Financial Agreement hereby adopts and incorporates by reference as if fully set forth herein Section 11.06 of the Security Agreement.

• This Title XI Reserve Fund and Financial Agreement hereby adopts and incorporates by reference as if fully set forth herein the provisions relating to Jurisdiction and Consent to Suit of the Special Provisions of the Security Agreement.

• The forms of the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, the Security Agreement, the Mortgage, the Secretary's Note, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement are hereby approved by the Secretary.

• This Title XI Reserve Fund and Financial Agreement shall consist of two parts: the Special Provisions and the General Provisions attached hereto as Exhibit 1, made a part of the Title XI Reserve Fund and Financial Agreement, and incorporated herein by reference.

• Each Partnership hereby sells, grants, conveys, mortgages, assigns, transfers, pledges, confirms and sets over to the Secretary a continuing security interest in all of such Partnership's right, title and interest in and to (1) the Title XI Reserve Fund, and (2) all sums, moneys, securities, and proceeds thereof currently on deposit, or hereafter deposited, in the Title XI Reserve Fund.

• The Partnerships agree that the Additional Availability of Funds in the form of Letters of Credit and/or the Additional Deposits shall not be in lieu of any other deposits, in whole or in part, that the Partnerships are required to make into the Title XI Reserve Fund in accordance with the terms hereof or any other document providing security to the Secretary for the Title XI Financing.

• The forms of following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement.