Closing Date Deposits, Withdrawals and Transfers Clause Samples
The 'Closing Date Deposits, Withdrawals and Transfers' clause governs the handling of funds and account activities on the date a transaction is finalized. It typically outlines the procedures for depositing or withdrawing money, as well as transferring assets or balances between parties or accounts, ensuring all financial movements are accurately recorded and executed on the closing date. This clause is essential for ensuring that all parties fulfill their financial obligations at the correct time, preventing disputes or confusion regarding the status of funds at closing.
Closing Date Deposits, Withdrawals and Transfers. The Administrative Agent shall, on the Initial Closing Date, at the written direction of the Borrower, upon the Operating Bank’s receipt thereof, make, or direct the Operating Bank in writing to make, the following deposits and transfers to the Accounts:
(a) (i) deposit in the Collections Account the proceeds of the ACS Group Loans and Class E Securities issued on the Initial Closing Date and the Net Maintenance Reserve Amount received pursuant to the terms of the relevant ACS Group Purchase Agreement, (ii) deposit in the relevant Lessee Funded Accounts the amount of the initial Segregated Funds, if any, received or deemed to have been received pursuant to the terms of the relevant ACS Group Purchase Agreements and (iii) deposit in the Security Deposit Account the amount of the initial security deposits that are not Segregated Funds received or deemed to have been received pursuant to the terms of the relevant ACS Group Purchase Agreements,
(b) after making the deposits required by clause (a) above and in the following order (i) transfer from the Collections Account to the Expense Account, an amount equal to the Required Expense Amount for the initial Interest Period, (ii) pay from the Collections Account to each relevant Seller an amount equal to the respective Aircraft Allocation Amount for each ACS Group Aircraft, if any, being acquired from such Seller on the Initial Closing Date pursuant to the Purchase Agreement or the Guarantor Purchase Agreement, as applicable, minus the amount of any security deposits that are not Segregated Funds held by an ACS Group Member, minus the amount equal to any basic rent received by an ACS Group Member attributable to the period after the Initial Closing Date minus the Net Maintenance Reserve Amount (if any) required to be paid by each relevant Seller to the Borrower, (iii) transfer from the Collections Account to the Maintenance Reserve Account an amount equal to the Net Maintenance Reserve Amount paid by each relevant Seller, and (iv) retain in the Collections Account the balance, if any, remaining after making the foregoing transfers,
(c) transfer to each applicable Aircraft Purchase Account from the Collections Account any Aircraft Allocation Amount as to each ACS Group Aircraft not acquired on the Initial Closing Date, and
(d) withdraw from the Expense Account such amount as is needed to discharge any Expenses due and payable on the Initial Closing Date and pay such amount to the appropriate payees thereof as spec...
Closing Date Deposits, Withdrawals and Transfers. On the Initial Closing Date and each other Closing Date, as applicable, the Administrative Agent shall make each of the transfers described in Sections 3.03 and 3.08 of the Indenture, as applicable, in accordance therewith and the relevant clauses in Section 3.01 of the Indenture, as applicable.
Closing Date Deposits, Withdrawals and Transfers. (a) On the Closing Date, the Trustee shall, subject to the receipt of written direction from the Issuer upon receipt of the proceeds of the sale by the Issuer of the Notes, make the following payments and transfers to the Accounts from such proceeds:
(i) pay to such Persons as shall be specified by the Issuer such Transaction Expenses as shall be due and payable in connection with the issuance and sale of the Notes;
(ii) pay the initial Hedge Payment to the Hedge Provider, if directed by the Issuer;
(iii) deposit into the Interest Reserve Account an amount equal to the Interest Reserve Amount; and
(iv) remit to NPS, in accordance with the Purchase and Sale Agreement, an amount equal to the cash portion of the Purchase Price as specified therein.
(b) On the date of issuance of any Refinancing Notes or Class B Notes, the Trustee shall, subject to the receipt of written direction from the Issuer upon receipt of the proceeds of the sale by the Issuer of such Notes, make such payments and transfers as shall be specified in the related Board Resolution and any supplemental indenture in respect of such Notes.
Closing Date Deposits, Withdrawals and Transfers. On the Closing Date, the Cash Manager shall or shall instruct, in writing, the Trustee or the Security Trustee, as the case may be, to make each of the transfers described in Section 3.03 of the Indenture.
Closing Date Deposits, Withdrawals and Transfers. On each Closing Date, the Cash Manager shall direct each of the transfers described in Section 3.03 of the Indenture in accordance with such Section 3.03.
Closing Date Deposits, Withdrawals and Transfers. On each Closing Date, the Cash Manager shall make the following transfers to the Accounts:
(i) deposit into the relevant Lessee Funded Account the amount of the initial Segregated Funds, if any, received or deemed to have been received from the Sellers pursuant to the terms of the relevant Acquisition Agreements;
(ii) deposit into the Collection Account, in the case of the Initial Closing Date, an amount equal to (x) the initial Liquidity Reserve Amount and, in the case of any other Closing Dates, any amount necessary to reflect the cash portion of the required Liquidity Reserve Amount at such date and (y) the available amount in respect of Undelivered Related Collateral Documents;
(iii) transfer from the Collection Account to the Expense Account an amount equal to the Required Expense Amount for the relevant initial Interest Accrual Period; and
(iv) deposit into the Aircraft Purchase Account, (A) in the case of the Initial Closing Date, an amount equal to the Initial Outstanding Balance of the Initial Notes raised with respect to the Remaining Aircraft, other than the Subclass D-1 and Subclass E-1 Notes, and (B) in the case of any other Closing Dates, if applicable, an amount equal to the proceeds of any AerCo Group Additional Notes issued to acquire the Additional Aircraft.
Closing Date Deposits, Withdrawals and Transfers. [Intentionally deleted]