Common use of Closing Expense Account Clause in Contracts

Closing Expense Account. In accordance with this Indenture and the Securities Account Control Agreement, the Trustee shall, prior to the Closing Date, establish with the corporate trust department of the Custodian a single, segregated non-interest bearing account held in the name of “ABPCI Direct Lending Fund CLO VI Ltd” which account shall be subject to the lien of U.S. Bank National Association, as Trustee for the benefit of the Secured Parties and shall be designated as the “Closing Expense Account”, and shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit in the Closing Expense Account on the Closing Date, the amount specified in Section 3.1(a)(xii)(C). On any Business Day from the Closing Date to and including the Determination Date relating to the third Payment Date following the Closing Date, the Trustee shall apply funds from the Closing Expense Account, as directed by the Collateral Manager, to pay (x) expenses of the Co-Issuers incurred in connection with the establishment of the Co-Issuers and fees and expenses incurred in connection with the structuring and consummation of the Offered Notes and the issuance of the Notes and (y) at the Collateral Manager’s discretion, Administrative Expenses in the order of priority contained in the definition thereof (subject to the Administrative Expense Cap). On the third Payment Date following the Closing Date, all funds in the Closing Expense Account (after deducting any expenses paid or payable on such Payment Date) shall be deposited in the Collection Account as Principal Proceeds. Any income earned on amounts deposited in the Closing Expense Account shall be deposited in the Collection Account as Interest Proceeds as it is received.

Closing Expense Account. In accordance with this Indenture and the Securities Account Control Agreement, the Trustee shallCollateral Trustee, prior to the Closing Second Refinancing Date, establish established with the corporate trust department of the Custodian a single, segregated non-interest bearing account held in the name of “ABPCI Direct Lending Fund CLO VI Ltd” which account shall be subject to the lien of U.S. Bank Trust Company, National Association, as Trustee for the benefit of the Secured Parties and shall be designated as the “Closing Expense Account”, and shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. The Issuer shall direct the Trustee to deposit in the Closing Expense Account on the Closing Date, the amount specified in Section 3.1(a)(xii)(C). On any Business Day from the Closing Second Refinancing Date to and including the Determination Date relating to the third first Payment Date following the Closing Second Refinancing Date, the Collateral Trustee shall apply funds from the Closing Expense Account, as directed by the Collateral Manager, to pay (x) expenses of the Co-Issuers incurred in connection with the establishment of the Co-Issuers and fees and expenses incurred in connection with the structuring and consummation of the Offered Notes and the issuance of the Notes and (y) at the Collateral Manager’s discretion, Administrative Expenses in the order of priority contained in the definition thereof (subject to the Administrative Expense Cap). On the third Determination Date relating to the first Payment Date following the Closing Second Refinancing Date, all funds in the Closing Expense Account (after deducting any expenses paid or payable on such Payment Date) shall be deposited in the Collection Account as Principal Proceeds. Any income earned on amounts deposited in the Closing Expense Account shall be deposited in the Collection Account as Interest Proceeds as it is received.