Unused Proceeds Account definition

Unused Proceeds Account means an interest bearing account in the name of the Issuer with the Account Bank into which the Issuer will procure amounts are deposited in accordance with Condition 3(j)(iii) (Unused Proceeds Account).

Unused Proceeds Account. The trust account established pursuant to Section 10.4(a) hereof.

Unused Proceeds Account means an interest bearing account in the name of the Issuer with the Account Bank into which the Issuer will procure amounts are deposited in accordance with Condition 3(j)(iii) (Unused Proceeds Account) and which shall be divided into the Unused Proceeds Interest Subaccount and the Unused Proceeds Principal Subaccount.

Examples of Unused Proceeds Account in a sentence

• The Collateral Manager acting on behalf of the Issuer shall use commercially reasonable endeavours to purchase Collateral Obligations with an Aggregate Principal Balance (together with Collateral Obligations previously acquired) equal to at least the Target Par Amount out of the Balance standing to the credit of the Unused Proceeds Account during the Initial Investment Period.

• The remaining proceeds shall be retained in the Unused Proceeds Account and used to purchase (or enter into agreements to purchase) additional Collateral Debt Obligations during the Initial Investment Period (as defined in the Conditions).

• Investors should note that, prior to the Determination Date relating to the first Payment Date, the Collateral Manager may transfer some or all amounts standing to the credit of the First Period Reserve Account to the Unused Proceeds Account for the purpose of being applied toward the purchase of additional Collateral Debt Obligations.

• The remaining proceeds shall be retained in the Unused Proceeds Account and used to purchase (or enter into agreements to purchase) additional Collateral Obligations during the Initial Investment Period (as defined in the Conditions).

• The remaining proceeds shall be retained in the Unused Proceeds Account and used to purchase (or enter into agreements to purchase) additional Collateral Debt Obligations during the Initial Investment Period.

More Definitions of Unused Proceeds Account

Unused Proceeds Account means the interest bearing account of the Issuer with the Account Bank into which the proceeds of the issue of the Notes remaining following the payment of all fees and expenses, the acquisition cost of all Collateral Debt Obligations acquired on or prior to the Closing Date and certain other amounts payable as at the Closing Date shall be paid on the Closing Date;

Unused Proceeds Account means the interest bearing account in the name of the Issuer so entitled and held with the Account Bank;

Unused Proceeds Account means the Subordinated Note Unused Proceeds Account and the Secured Note Unused Proceeds Account, collectively.

Unused Proceeds Account means the Euro-denominated interest bearing account of the Issuer with the Account Bank into which the net proceeds of the Notes are deposited on the Closing Date and from which applied towards, among other things, the acquisition of Collateral Debt Obligations in accordance with Condition 3(j)(iii) (Unused Proceeds Account).

Unused Proceeds Account means the Issuer’s account with the Account Bank into which the net proceeds of issue of the Notes remaining after payment of (i) certain fees, expenses and other amounts by the Issuer on the Closing Date; (ii) the payment of €70,000 into the Expense Reimbursement Account; and (iii) all amounts payable in connection with the Initial Portfolio Collateral, shall be paid.

Unused Proceeds Account means the account of such name in the name of the Issuer and maintained with the Account Bank (or any further or other account so named, or any linked account thereof or redesignated account, in each case with the Account Bank) into which the Issuer will procure amounts are deposited in accordance with Condition 3(i)(iii) (Unused Proceeds Account).

Unused Proceeds Account means the unused proceeds account (and all monies credited thereto from time to time) in the name of the Issuer held at the Account Bank with account no. 050427/0/111/100 (and any sub-account thereof) to which the balance of the Net Closing Proceeds determined to remain following repayment by the Issuer of all the outstanding amounts under the Bridge Loan Facility Agreement and all commissions, fees, costs and expenses incurred in connection with the issue of the Notes which are due and payable on the Issue Date will be deposited and from which the Issuer shall pay all fees, costs and expenses incurred in connection with the issue of the Notes (and not paid on the Issue Date) with the balance transferred to the Fiduciary Account for purposes of investment in Collateral Securities and/or Eligible Investments (other than bank deposits) by Dresdner Bank Aktiengesellschaft (Luxembourg Branch) to whom such deposited amount will be lent under the Fiduciary Loan Agreement contemporaneously with directions for settlement of the acquisition of Collateral Securities and/or Eligible Investments (other than bank deposits), failing which (within the time prescribed therefor) such amount must be distributed to the Issuer, deposited to the principal sub-account of the Collection Account and applied to redeem Notes in accordance with the Priority of Payments set forth in Condition 9.2;