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 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 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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Examples of Unfunded Reserve Account in a sentence

  • The only permitted deposits to or withdrawals from the Unfunded Reserve Account shall be in accordance with the provisions of this Agreement.

  • Notwithstanding anything to the contrary herein, if, upon the occurrence of an Event of Default and on the Commitment Termination Date, the amount on deposit in the Unfunded Reserve Account is less than the Unfunded Exposure Amount (such amount, the “Unfunded Reserve Account Shortfall”), the Borrower shall cause to be deposited in the Unfunded Reserve Account an amount equal to the Unfunded Reserve Account Shortfall.

  • During the Reinvestment Period, fundings of Delayed Drawdown Collateral Loans and Revolving Collateral Loans shall be made using, first, amounts on deposit in the Unfunded Reserve Account (in an amount equal to the amount on deposit therein with respect to such Delayed Drawdown Collateral Loan or Revolving Collateral Loan), then available Principal Proceeds and finally, borrowing of Advances under Section 2.01.

  • During the Amortization Period, Principal Proceeds received by the Borrower (or the Collateral Manager on its behalf) in respect of Revolving Collateral Assets (to the extent not accompanied by a permanent reduction in the related commitments) shall be deposited by the Borrower (or the Collateral Manager on its behalf) into the Unfunded Reserve Account to the extent the amount on deposit in the Unfunded Reserve Account is less than the Unfunded Reserve Required Amount.

  • Employees who so contribute shall provide the Union with written notice of such payment in the form of a signed receipt from the charitable organization or such other arrangement as is acceptable to the Union.

  • The Collateral Agent shall from time to time deposit into the Principal Collection Account promptly upon receipt thereof all Principal Proceeds (unless simultaneously reinvested in additional Collateral Assets in accordance with Article X or required to be deposited in the Unfunded Reserve Account pursuant to Section 8.05) received by the Collateral Agent and identified as such by the Collateral Manager.

  • During the Reinvestment Period, fundings of Delayed Drawdown Collateral Assets and Revolving Collateral Assets shall be made using, first, amounts on deposit in the Unfunded Reserve Account (in an amount equal to the amount on deposit therein with respect to such Delayed Drawdown Collateral Asset or Revolving Collateral Asset), then available Principal Proceeds and finally, borrowing of Advances under Section 2.01.

  • Amounts on deposit in the Unfunded Reserve Account will be available solely to cover drawdowns on Delayed Drawdown Collateral Assets and Revolving Collateral Assets; provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Unfunded Reserve Required Amount, the Collateral Agent shall remit such excess to the Collection Account.

  • Amounts on deposit in the Unfunded Reserve Account will be available solely to cover drawdowns on Delayed Drawdown Collateral Loans and Revolving Collateral Loans; provided that, to the extent that the aggregate amount of funds on deposit therein at any time exceeds the Unfunded Reserve Required Amount, the Collateral Agent shall remit such excess to the Collection Account.

  • The Collateral Agent shall from time to time deposit into the Principal Collection Account promptly upon receipt thereof all Principal Proceeds (unless simultaneously reinvested in additional Collateral Loans in accordance with Article X or required to be deposited in the Unfunded Reserve Account pursuant to Section 8.05) received by the Collateral Agent and identified as such by the Collateral Manager.


More Definitions of Unfunded Reserve Account

Unfunded Reserve Account has the meaning specified in Section 3(a).
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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 established pursuant to Section 8.3(b).
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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

  • 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.

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

  • 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.

  • 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.

  • 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(2019-1) 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.