Examples of Expense Fund in a sentence
Amounts in the Repayment Fund shall be withdrawn by the Trustee on each Transfer Date and deposited first (a) to the Debt Service Fund an amount sufficient to pay the principal of and interest on the Series 2023-A Notes on the next Note Payment Date, and then (b) to the Expense Fund.
The Trustee will transfer amounts from the Repayment Fund (which amounts come from Co-Obligor Payments) to the Expense Fund, as provided in Section 3.05 herein.
Amounts remaining in the Expense Fund after all Series 2023-A Notes have been redeemed and all Fees and Expenses have been paid will be released to the Issuer.
Interest earnings on amounts invested in the Expense Fund will be withdrawn by the Trustee on each Transfer Date and transferred to the Interest Earnings Fund.
On the tenth day of each month (each a “Transfer Date”), the Trustee will withdraw monies from the Repayment Fund and transfer such amounts (a) first, to the Debt Service Fund (in amounts sufficient to pay principal of and interest on the Series 2023-A Notes on the next Note Payment Date less any Tax Deduction which has reduced the Co-Obligor Payments under Section 4.02) and (b) second, to the Expense Fund (to be used to pay Fees and Expenses, as and if due at such time).