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 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).

• All interest and other income from such investments shall be deposited in the Unused Proceeds Account, any gain realized from such investments shall be credited to the Unused Proceeds Account, and any loss resulting from such investments shall be charged to the Unused Proceeds Account.

• The Trustee shall not in any way be held liable (except as a result of negligence, willful misconduct or bad faith) by reason of any insufficiency of the Unused Proceeds Account resulting from any loss relating to any such investment, except with respect to investments in obligations of the Trustee or any Affiliate thereof.

• 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 Unused Proceeds Account shall remain at all times with the Corporate Trust Office or a financial institution having a long-term debt rating of at least “Aa3” by Xxxxx’x or a short-term debt rating of at least “P-1” by Xxxxx’x.

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. The account established pursuant to Section 10.1(b) and described in Section 10.3(b).

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.

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 sub-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).