Floating Rate Subaccount Sample Clauses

Floating Rate Subaccount. Upon the issuance of the Class A-4 Certificates, the Certificate Trustee will establish and maintain a Certificate Account (the "Class A-4 Subaccount"), which the Certificate Trustee will hold in trust for the benefit of the Holders of the Class A-4 Certificates and the Swap Counterparty, on a pari passu basis. Subject to any proration among Classes in the case of a Note shortfall of funds available to pay interest on the Certificates pursuant to Section 8.02(d) of the Note Indenture, the Certificate Trustee, in accordance with Section 4.01, shall allocate to the Class A-4 Subaccount an amount equal to the Class A-4 Gross Fixed Amount with respect to such Distribution Date (together with any amounts paid on the Class A-4 Notes with respect to overdue interest, including any interest paid on such interest and distributed in accordance with Section 8.02(d)(v) of the Note Indenture). On the Distribution Date, any net amount payable by the Certificate Issuer to the Class A-4 Swap Counterparty under the Class A-4 Swap Agreement shall be paid from the Class A-4 Subaccount, and any net amount payable to the Certificate Issuer by the Class A-4 Swap Counterparty under the Class A-4 Swap Agreement shall be deposited into the Class A-4 Subaccount on the Business Day preceding the Distribution Date. On the Distribution Date, amounts in the Class A-4 Subaccount after such netting and payment shall be paid as interest to the Holders of the Class A-4 Certificates. If, on any Distribution Date for any Calculation Period during which the Class A-4 Swap Agreement is in effect, there are insufficient funds in the Class A-4 Subaccount to pay the interest due to the Holders of the Class A-4 Certificates because of a failure of the Class A-4 Swap Counterparty to pay any net amount payable by the Class A-4 Swap Counterparty under the Class A-4 Swap Agreement, the Class A-4 Holders shall have no recourse to amounts in any other Certificate Account to recover such shortfall other than from amounts subsequently paid by the Class A-4 Swap Counterparty. If for any Distribution Date there are insufficient funds in the Class A-4 Subaccount to pay the interest due to the Holders of the Class A-4 Certificates and to pay any net amount payable to the Class A-4 Swap Counterparty by the Certificate Issuer under the Class A-4 Swap Agreement because of a shortfall of funds available for the Certificate Trustee to allocate to the Class A-4 Subaccount the full amount of the Class A-4 Fixed Gros...
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Floating Rate Subaccount. Upon the issuance of the Class A-4 Certificates, the Certificate Trustee will establish and maintain a Certificate Account (the "Class A-4 Subaccount"), which the Certificate Trustee will hold in
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Related to Floating Rate Subaccount

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Regular Floating Rate Note Unless this Note is specified on the face hereof as a Floating Rate/Fixed Rate Note, this Note (a “Regular Floating Rate Note”) will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which interest on this Regular Floating Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate.

  • Floating Rate/Fixed Rate Notes If this Note is specified on the face hereof as a “Floating Rate/Fixed Rate Note”, this Note will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which this Floating Rate/Fixed Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that: (A) the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate specified on the face hereof; and (B) the interest rate in effect commencing on the Fixed Rate Commencement Date will be the Fixed Interest Rate, if specified on the face hereof, or, if not so specified, the interest rate in effect on the day immediately preceding the Fixed Rate Commencement Date.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. 5.2. Payment of the deposit must be made via local bank transfer in favour of Rajan Auctioneers Bidders Account (BIDDER DEPOS IT). Transaction must be done with in one (1) working day before the auction date with the following details; a) Account’s Name : RAJAN AUCTIONEERS SDN BHD - ACC2 b) Name of Bank : RHB BANK BERHAD c) Account Number : 21242400054193 d) Description : BIDDER DEPOSIT 5.3. Evidence of the transfer must be uploaded and submitted at the time of registration. 5.4. E-Bidders residing outside Malaysia/ (“Foreign E-Bidders”) must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of the deposit must be made to as per mentioned in Proclamation of Sale in favour of the Auctioneer in accordance with 5.2 herein above with Swift Code as: ▇▇▇▇▇▇▇▇ ,Branch :▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇. Evidence of payment must be uploaded and submitted at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ or WhatsApp to ▇▇▇-▇▇▇▇▇▇▇ within (4) working days before auction date.

  • % Deposit Payment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. 5.2. Payment of the deposit must be made via local bank transfer in favour of Rajan Auctioneers Bidders Account (BIDDER DEPOSIT). Transaction must be done with in one (1) working day before the auction date with the following details; a) Account’s Name : RAJAN AUCTIONEERS SDN BHD - ACC2 b) Name of Bank : RHB BANK BERHAD c) Account Number : 21242400054193 d) Description : BIDDER DEPOSIT 5.3. Evidence of the transfer must be uploaded and submitted at the time of registration. 5.4. E-Bidders residing outside Malaysia/ (“Foreign E-Bidders”) must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of the deposit must be made to as per mentioned in Proclamation of Sale in favour of the Auctioneer in accordance with 5.2 herein above with Swift Code as: ▇▇▇▇▇▇▇▇ ,Branch :1812424, Jalan Stesyen Klang. Evidence of payment must be uploaded and submitted at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ or WhatsApp to ▇▇▇-▇▇▇▇▇▇▇ within (4) working days before auction date.