RELEASE OF EXCESS AMOUNTS Sample Clauses

RELEASE OF EXCESS AMOUNTS. If, as of any Principal Payment Date, (a)(i) an amount is on deposit in the Debt Reserve Account, the Maintenance Reserve Account, Capacity Upgrades Reserve Account in excess of the Debt Reserve Required Balance, Capacity Upgrades Reserve Required Balance or the Maintenance Reserve Required Balance, as applicable, or (ii) an amount is on deposit in the Operating Reserve Account in excess of the Operating Reserve Maximum Balance, whether as the result of the actual realization of income or gain on the amounts on deposit in such Account or otherwise and (b) no Event of Default or Designated Event has occurred and is continuing, then the Administrative Agent shall, upon the instruction of the Company, distribute any such excess amounts to the Revenue Account. 146
View SourceView Similar (3)
RELEASE OF EXCESS AMOUNTS. If, as of any Principal Payment Date, (a)(i) an amount is on deposit in the Debt Reserve Account or the Maintenance Reserve Account in excess of the Debt Reserve Required Balance or the Maintenance Reserve Required Balance, as applicable, or (ii) an amount is on deposit in the Supplemental Debt Reserve Account, the Operating Reserve Account or the Repair and Restoration Reserve Account in excess of the Supplemental Debt Reserve Maximum Balance, the Operating Reserve Maximum Balance or the R&R Reserve Maximum Balance, as applicable, in each case whether as the result of the actual realization of income or gain on the amounts on deposit in such Account or otherwise and (b) no Event of Default or Designated Event has occurred and is continuing, then the Collateral Trustee shall, upon the instruction of the Borrower, distribute any such excess amounts to the Revenue Account.
View Source
RELEASE OF EXCESS AMOUNTS. If, as of any Principal Payment ------------------------- Date, (a) an amount is on deposit in the Debt Reserve Account, the Parent Interest Reserve Account or the Operating Reserve Account in excess of the Required Balance for such Account as the result of the actual realization of income or gain on the amounts on deposit in such Account and (b) no Event of Default or Designated Event has occurred and is continuing, then the Administrative Agent shall transfer any such excess amounts to the Revenue Account. After the payment of all Capital Costs, amounts remaining on deposit in the Construction Account, the Construction Contingency Reserve Account and the Clean-Up Account shall be applied first, to fund the Debt Reserve Account, the ----- Parent Interest Reserve Account and the Operating Reserve Account to bring the amounts on deposit therein up to the Required Balances (in the order of priority set forth in Section 8.08(d)) and second, to the prepayment of the Loans in --------------- ------ accordance with Section 2.11(e). ---------------
View SourceView Similar (2)
RELEASE OF EXCESS AMOUNTS. If, as of any Basic Rent Payment Date, (i) an amount is on deposit in the Rent Reserve Account or the Operation and Maintenance Reserve Account in excess of the Required Rent Reserve Balance or the Required Operation and Maintenance Reserve Balance, as the case may be, as the result of the actual realization of income or gain on the amounts on deposit in such Account, (ii) no Lease Default or Lease Event of Default has occurred and is continuing and (iii) the Security Agent shall have received a certificate signed by an Authorized Officer of the Partnership and countersigned by the Administrative Agent and the Owner Participant, substantially in the form of Exhibit E, certifying as to such matters, then the Security Agent shall distribute any such excess amounts to the Revenue Account.
View Source
RELEASE OF EXCESS AMOUNTS. (a) Section 4.7 is hereby amended by deleting clause (i) of such section in its entirety and replacing it with the following: (i) an amount on deposit in the Rent Reserve Account or the Operation and Maintenance Reserve Account (including any amount available for drawing under an Operation and Maintenance Reserve L/C ) is in excess of the then Required Rent Reserve Balance or the then Required Operation and Maintenance Reserve Balance, as the case may be, as the result of the actual realization of income or gain on the amounts on deposit in such Account, a reduction in the Capacity Sales Reserve Amount or the Energy Sales Reserve Amount, or the delivery of an Operation and Maintenance Reserve L/C, (b) Exhibit E to the Amended and Restated Security Deposit Agreement is hereby amended by deleting subparagraph (b) to the first paragraph of such Exhibit E in its entirety and replacing it with the following:
View Source
RELEASE OF EXCESS AMOUNTS. If, as of any Basic Rent Payment Date, (i) an amount is on deposit in the Rent Reserve Account or the Operation and Maintenance Reserve Account in excess of the Required Rent Reserve Balance or the Required Operation and Maintenance Reserve Balance, as the case may be, as the result of the actual realization of income or gain on the amounts on deposit in such Account, (ii) no Lease Default or Lease Event of Default has occurred and is continuing and (iii ) the Security Agent shall have received a certificate signed by an Authorized Officer of the Partnership and countersigned by GE Capital, substantially in the form of Exhibit E, certifying as to such matters, then the Security Agent shall distribute any such excess amounts to the Revenue Account.
View Source
RELEASE OF EXCESS AMOUNTS. If, as of any Principal Payment Date, (i)(1) an amount is on deposit in the Debt Reserve Account or Capacity Upgrades Reserve Account in excess of the Debt Reserve Required Balance or Capacity Upgrades Reserve Required Balance, as applicable, or (2) an amount is on deposit in the Operating Reserve Account in excess of the Operating Reserve Minimum Balance, whether 133 as the result of the actual realization of income or gain on the amounts on deposit in such Account or otherwise and (ii) no Event of Default or Designated Event has occurred and is continuing, then the Administrative Agent shall, upon the instruction of the Company, distribute any such excess amounts to the Revenue Account.
View Source

Related to RELEASE OF EXCESS AMOUNTS

  • Refund of Excess Cash If at any time the credit balance of Timber Sale Account exceeds the charges for timber that Forest Service estimates will be cut within the next 60 days, any portion of such excess that is due to cash in the account shall be refunded, if re- quested by Purchaser, unless deposited under B4.211,

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • No Release of Tenant, Sharing of Excess Rents Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment of Rent and for compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration therefor or incident thereto in any form) exceeds the sum of the rental payable under this Lease, (excluding however, any Rent payable under this Section) and actual and reasonable brokerage fees, legal costs and any design or construction fees directly related to and required pursuant to the terms of any such sublease) (“Excess Rent”), then Tenant shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 days following receipt thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of a Default, Tenant shall have the right to collect such rent.

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax under Section 4973 of the Internal Revenue Code for that year by withdrawing the excess contribution and its earnings on or before the due date, including extensions, of the tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may be subject to a 10% early distribution penalty tax if you are under age 59½. In addition, in certain cases an excess contribution may be withdrawn after the time for filing your tax return. Finally, excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years.