Common use of Note Account Clause in Contracts

Note Account. A. For purposes of the transactions contemplated herein, the Issuer shall open and maintain the Note Account. B. Deposits will be made to the Note Account from time to time by or on behalf of the Issuer by delivery of funds to be deposited therein. All Proceeds shall be credited to the Note Account. Withdrawals or other uses of the funds from the Note Account shall be made in accordance with instructions from an Issuer Agent or to repay amounts payable under Sections 4.B. or 7.D. hereof. Notwithstanding anything in this Agreement to the contrary, the IPA shall not be obligated (i) to permit any withdrawal or other use of funds from the Note Account, or (ii) to honor any instructions to those effects, if the IPA, in its sole discretion, shall determine that as a result there would be an overdraft or negative balance in respect of final credits (whether in the course of any day, overnight or otherwise) in the Note Account. The Issuer shall deposit in the Note Account on the Maturity Date an amount in immediately available funds equal to the principal and interest payable on such Notes, unless such funds represent Proceeds and are deposited to the Note Account pursuant to Section 4.B.