Unfunded Reserve Account definition

Unfunded Reserve Account has the meaning specified in Section 8.04.
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Unfunded Reserve Account has the meaning specified in Section 8.05. “Unfunded Reserve Account Shortfall” has the meaning specified in Section 2.01.
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Unfunded Reserve Account has the meaning specified in Section 3(a).
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Examples of Unfunded Reserve Account in a sentence

  • Any interest earned on Eligible Investments held in the Unfunded Reserve Account shall be applied as Interest Proceeds.

  • Notwithstanding the foregoing, the amount of all funds on deposit in the Unfunded Reserve Account on any date that exceeds the aggregate Unfunded Amount on such date shall be transferred to the Collection Account on such date and applied as Principal Proceeds.

  • The Collateral Agent shall, on or prior to the Closing Date, establish with the Securities Intermediary a single, segregated non-interest bearing account in the name “ABPCIC Funding V LLC Unfunded Reserve Account, subject to the lien of the Collateral Agent for the benefit of the Secured Parties”, which shall be designated as the “Unfunded Reserve Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement.

  • For the avoidance of doubt, any amounts transferred from the Unfunded Reserve Account for application as Principal Proceeds as provided above shall be further invested in Collateral Obligations (to the extent expressly permitted by the other provisions in this Agreement) or applied as Principal Proceeds in accordance with Section 9.1(a)(ii), in each case as expressly provided in this Agreement.

  • The Unfunded Reserve Account shall remain at all times with an Eligible Account Bank.

  • If the Collateral Agent does not receive written instructions from the Borrower, it shall invest and reinvest the funds held in the Unfunded Reserve Account, as fully practicable, in U.S. Bank Money Market Deposit Account (MMDA); provided that such account satisfies the Eligible Investment Required Ratings.

  • The Collateral Agent agrees to give the Borrower immediate notice if an Administrative Officer of the Collateral Agent obtains actual knowledge of or receives written notice that the Unfunded Reserve Account or any funds on deposit therein, or otherwise to the credit of the Unfunded Reserve Account, shall become subject to any writ, order, judgment, warrant of attachment, execution or similar process.

  • In the event that the account bank at which the Unfunded Reserve Account is maintained ceases to be an Eligible Account Bank, or the account bank with respect to the Unfunded Reserve Account gives notice that it is terminating the Account Control Agreement, then Borrower shall, within 60 days of such occurrence, move the Unfunded Reserve Account to an Eligible Account Bank (with the consent of the Administrative Agent) and cause the successor account bank to enter into a control agreement.

  • By Borrower Order (which may be in the form of standing instructions), the Borrower may, so long as no Event of Default has occurred and is continuing, direct the Collateral Agent to, and, upon receipt of such Borrower Order, the Collateral Agent shall, invest all funds received into the Unfunded Reserve Account as so directed solely in overnight funds that are Eligible Investments.


More Definitions of Unfunded Reserve Account

Unfunded Reserve Account in the name of the Borrower subject to the Lien of the Collateral Agent for the benefit of the Secured Parties including any subaccount thereof and any subaccount established for purposes of holding Alternative Currencies; provided that the funds deposited therein (including any interest and earnings thereon) from time to time shall constitute the property and assets of the Borrower, and the Borrower shall be solely liable for any Taxes payable with respect to the Unfunded Reserve Account. “Unfunded Reserve Required Amount” means on any date of determination an amount determined by the Borrower (or the Collateral Manager on its behalf) required to be on deposit in the Unfunded Reserve Account (converting all amounts not denominated in Dollars to Dollars at the Applicable Exchange Rate) equal to: (a) at all times during the Reinvestment Period: (i) the aggregate unfunded commitments in respect of all Delayed Draw Collateral Assets and Revolving Collateral Assets (other than Delayed Draw Collateral Assets and Revolving Collateral Assets which are no longer required to be funded due to a default or similar condition and the related unfunded commitment is terminated), multiplied by (ii) 100% minus the product of the Advance Rate then in effect for such Collateral Assets times the Asset Value of such Collateral Asset (expressed as percentage of par); and (b) after the Reinvestment Period, the sum of: (i) the aggregate unfunded commitments in respect of all Delayed Draw Collateral Asset and Revolving Collateral Assets (other than Delayed Draw Collateral Assets and Revolving Collateral Assets which are no longer required to be funded due to a default or similar condition and the related unfunded commitment is terminated), plus (ii) the aggregate amount of funds needed to settle purchases of Collateral Assets committed to be acquired by the Borrower prior to the end of the Reinvestment Period that have not yet settled. “Unintended Recipient” has the meaning specified in Section 9.02(a)(i). “United States” means the United States of America. “Unmatured Event of Default” means the occurrence and continuance of any event referred to in Section 7.01 that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default. USActive 60058040.860058040.11 -61-
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Unfunded Reserve Account collectively, the “USD Unfunded Reserve Account”, the “CAD Unfunded Reserve Account”, the “EUR Unfunded Reserve Account” and the “GBP Unfunded Reserve Account”, each as defined in Section 8.05.
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Unfunded Reserve Account means the account designated “Unfunded Reserve Account” in the name of the Borrower subject to the Lien of the Collateral Agent for the benefit of the Secured Parties including any subaccount thereof and any subaccount established for purposes of holding Alternative Currencies; provided that the funds deposited therein (including any interest and earnings thereon) from time to time shall constitute the property and assets of the Borrower, and the Borrower shall be solely liable for any Taxes payable with respect to the Unfunded Reserve Account. “Unfunded Reserve Required Amount” means on any date of determination an amount determined by the Borrower (or the Collateral Manager on its behalf) required to be on deposit in the Unfunded Reserve Account (converting all amounts not denominated in Dollars to Dollars at the Applicable Exchange Rate) equal to: (a) at all times during the Reinvestment Period: (i) the aggregate unfunded commitments in respect of all Delayed Draw Collateral Assets and Revolving Collateral Assets (other than Delayed Draw Collateral Assets and Revolving Collateral Assets which are no longer required to be funded due to a default or similar condition and the related unfunded commitment is terminated), multiplied by (ii) 100% minus the product of the Advance Rate then in effect for such Collateral Assets times the Asset Value of such Collateral Asset (expressed as percentage of par); and (b) after the Reinvestment Period, the sum of: (i) the aggregate unfunded commitments in respect of all Delayed Draw Collateral Asset and Revolving Collateral Assets (other than Delayed Draw Collateral Assets and Revolving Collateral Assets which are no longer required to be funded due to a default or similar condition and the related unfunded commitment is terminated), plus (ii) the aggregate amount of funds needed to
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Unfunded Reserve Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of amounts required to pursuant to Section 4.07 and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.
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Related to Unfunded Reserve Account

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

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

  • 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.

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

  • 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 A( - ) 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.]

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, 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 Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Interest Reserve Account” and which shall be an Eligible Account.

  • 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 Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • 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.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Unfunded Exposure Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Unfunded Exposure Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • 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.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.