Acquisition Fund. With respect to each series of Notes, the Trustee shall, upon delivery to the initial purchasers thereof and from the proceeds thereof, credit to the Acquisition Fund the amount, if any, specified in the Supplemental Indenture providing for the issuance of such series of Notes. The Trustee shall also deposit in the Acquisition Fund: (i) any funds to be transferred thereto from the Revenue Fund as provided in Section 4.6 hereof or from the Surplus Fund as provided in Section 4.8 hereof, and (ii) any other amounts specified in a Supplemental Indenture to be deposited therein. In addition, the Trustee shall also credit to the Acquisition Fund any Eligible Loans transferred thereto from the Surplus Account pursuant to Section 4.8 hereof (any such Eligible Loans so transferred being thereafter deemed to have been Financed with moneys in the Acquisition Fund). Balances in the Acquisition Fund shall be used only for (a) the acquisition of Eligible Loans pursuant to a Student Loan Purchase Agreement (including, for this purpose, the acquisition of Eligible Loans previously purchased or originated by the Corporation or the Trustee on behalf of the Corporation pursuant to a Student Loan Purchase Agreement from other available moneys of the Corporation) or Transfer Agreement, (b) the origination of Eligible Loans, (c) the redemption or purchase of Notes as provided in a Supplemental Indenture providing for the issuance of such Notes, (d) the payment of Debt Service on the Class A Notes and Other Senior Obligations when due (upon transfer to the Note Fund as set forth in the following paragraph), (e) the payment of the purchase price of any Class A Notes required to be purchased on a Purchase Date or a Mandatory Tender Date (upon transfer to the Note Fund as set forth in the following paragraph), or (f) to cure deficiencies in the Indemnification Fund (upon transfer to the Indemnification Fund as set forth in the following paragraph). The Trustee shall make or shall authorize the Deposit Agent to make payments to the Transferor, Lenders or SLFC from the Acquisition Fund for the acquisition of Eligible Loans (such payments to be made at purchase prices not in excess of the amount specified therefor in the Supplemental Indenture which created the Account in the Acquisition Fund from which such purchase price is to be withdrawn), including the payment of reasonable transfer or assignment fees, if applicable, upon receipt by the Trustee of an Eligible FFELP Loan Acquisiti...
Acquisition Fund. There is hereby established in the custody of Escrow Agent an escrow fund designated as the "City of Chula Vista Acquisition Fund" (the "Acquisition Fund") to be held and administered by Escrow Agent for Lessee and Lessor in accordance with this Escrow Agreement, subject to Lessor's rights under this Section 2 and Section 3 hereof. The moneys and investments held by Escrow Agent under this Escrow Agreement are irrevocably held for the benefit of Xxxxxx and Lessor, and such moneys, together with any income or interest earned thereon, shall be expended only as provided in this Escrow Agreement, and shall not be subject to levy or attachment or lien by or for the benefit of any creditor of Lessee (other than Lessor) or Lessor. Lessee hereby grants to Lessor a security interest in the Acquisition Fund to secure payment of all sums due to Lessor under the Lease. For such purpose, Xxxxxx Agent xxxxxx agrees to act as agent for Xxxxxx in connection with the perfection of such security interest and agrees to note, or cause to be noted, on all books and records relating to such accounts, Xxxxxx's interest therein.
(a) Deposit in Acquisition Fund. There shall be deposited in the Acquisition Fund the sum of $287,454.71. Escrow Agent shall maintain accounting records sufficient to permit calculation of the income on investments and interest earned on deposit of amounts held in the Acquisition Fund, and such income and interest shall become part of the Acquisition Fund and may be expended as provided herein.
(b) Disbursements from Acquisition Fund. Escrow Agent shall make payments from the Acquisition Fund to pay costs of the Property upon receipt of requisitions from Lessee, signed by an authorized individual, and approved by Lessor, substantially in the form attached hereto as Exhibit A, which is incorporated by reference herein. In the event Escrow Agent is directed or requested by Xxxxxx to hold or deposit any retained funds or to accept a retainage bond (in lieu of funds) as may be required by law or the terms of the acquisition contract to which Lessee is a party, Escrow Agent shall act in accordance with Xxxxxx's instructions, and such retained funds (or performance bond) and any interest thereon shall be paid as provided in instructions to Escrow Agent from Lessee. In no event, shall Lessee submit more than six (6) requisitions in any month. The final requisition shall include the final acceptance certificate required in the Lease, which shall be executed by th...
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Acquisition Fund. There is hereby created a separate fund to be held by the City designated as the “City of Durham 2015 Equipment Installment Financing Acquisition Fund” (the “Acquisition Fund”), which shall be maintained separate and apart from other funds of the City. The Purchase Price shall be deposited in the Acquisition Fund, and, together with the earnings from the investment thereof. Pursuant to this Contract, the City grants a security interest to the Lender in the funds held in the Acquisition Fund. Such interest shall terminate with the termination of the Acquisition Fund. The funds in the Acquisition Fund will be disbursed in accordance with the provisions of this Article IV.
Acquisition Fund. The Administrator shall instruct the Indenture Trustee to deposit into the Acquisition Fund, the Reserve Fund and such other funds or accounts as are appropriate, the proceeds derived from the sale of Notes. The Administrator shall instruct the Indenture Trustee in writing to make withdrawals from amounts deposited in the Acquisition Fund as provided in the Indenture.
Acquisition Fund. There is established hereunder a Fund, held by the Indenture Trustee and designated the "Acquisition Fund". To the extent necessary or appropriate, the Issuer and the Indenture Trustee may establish Accounts within the Acquisition Fund and subaccounts within such Accounts established under this Section. The Indenture Trustee has deposited to the credit of the Acquisition Fund the amount required by the Original Terms Supplement and shall deposit to the credit of the Acquisition Fund any amount required by the Terms Supplement. The Acquisition Fund and the Accounts therein shall be applied by the Indenture Trustee for the Financing directly, or indirectly through an Eligible Lender Trustee, of Student Loans from Sellers. The Financing directly, or indirectly through an Eligible Lender Trustee, of Student Loans from Sellers, from the Issuer and/or from the indenture trustee under other financing documents to which the Issuer is a party with moneys representing amounts deposited in the Acquisition Fund (or any Accounts therein) shall be governed by the provisions of Section 5.3.1 below.
Acquisition Fund. There is hereby established in the custody of Escrow Agent an escrow fund designated as the “Vanderburgh County Acquisition Fund" (the "Acquisition Fund") to be held and administered by Escrow Agent for Lessee and Lessor in accordance with this Escrow Agreement, subject to Lessor's rights under this Section 2 and Section 3 hereof. The moneys and investments held by Escrow Agent under this Agreement are irrevocably held for the benefit of Xxxxxx and Lessor, and such moneys, together with any income or interest earned thereon, shall be expended only as provided in this Agreement, and shall not be subject to levy or attachment or lien by or for the benefit of any creditor of Lessee (other than Lessor) or Lessor. Lessee hereby grants to Lessor a security interest in the Acquisition Fund to secure payment of all sums due to Lessor under the Lease. For such purpose, Xxxxxx Agent xxxxxx agrees to act as agent for Xxxxxx in connection with the perfection of such security interest and agrees to note, or cause to be noted, on all books and records relating to such accounts, Xxxxxx's interest therein.
Acquisition Fund. Certificate proceeds deposited in the Acquisition Fund (including amounts held for Costs of Delivery) and investment earnings on those proceeds may be invested without Yield restriction for up to 3 years following the Issue Date. If any unspent proceeds remain in the Acquisition Fund after 3 years, those amounts may continue to be invested without Yield restriction so long as the City pays to the IRS all Yield reduction payments in accordance with Regulations § 1.148- 5(c). These payments are required whether or not the Certificates are exempt from the arbitrage rebate requirements of Code § 148.
Acquisition Fund. The Trustee will establish a special fund designated as the “Acquisition Fund” for the Certificates delivered hereunder; will keep such fund separate and apart from all other funds and moneys held by the Trustee; and will administer such fund as herein provided. The Acquisition Fund will be held and applied by the Trustee in accordance herewith.
Acquisition Fund. There is hereby created with the Agency a fund to be known as the “Acquisition Fund,” which the Agency shall maintain and hold in trust separate and apart from other funds held by it. The moneys in the Acquisition Fund shall be applied to the payment of the costs of acquisition of the 2020 Project and of expenses incidental thereto. Before any payment is made from the Acquisition Fund, the Manager shall cause to be filed with the Chief Financial and Administrative Officer of the Agency a Written Requisition in the form set forth in Exhibit C hereto. Upon receipt of such Written Requisition, the Chief Financial and Administrative Officer of the Agency will pay the amount set forth therein. The Chief Financial and Administrative Officer of the Agency need not make any such payment if he or she has received notice of any lien, right to lien or attachment upon, or claim affecting the right to receive payment of, any of the moneys so to be paid, which has not been released and will not be released simultaneously with such payment. When the 2020 Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the Agency stating the fact and date of such acquisition, construction and acceptance and stating that all of such costs of acquisition and incidental expenses have been determined and paid (or that all of such costs and expenses have been paid less specified claims which are subject to dispute and for which a retention in the Acquisition Fund is to be maintained in the full amount of such claims until such dispute is resolved), shall be delivered to the Chief Financial and Administrative Officer of the Agency and the Trustee by the Manager. Upon the receipt of such statement, the Chief Financial and Administrative Officer of the Agency shall transfer any remaining balance in the Acquisition Fund not needed for Acquisition Fund purposes (but less the amount of any such retention which shall be certified to the Chief Financial and Administrative Officer of the Agency by the Manager) to the Revenue Fund.
