Acquisition Fund. On the Date of Issuance, pursuant to Section 2.12 hereof, $1,700,000 shall be deposited into the Acquisition Fund and $193,954,016 of Eligible Loans (which amount includes accrued interest thereon) shall be deposited therein. Financed Eligible Loans, evidenced by promissory notes, shall be held by the Authority or its agent or bailee and shall be pledged to the Trust Estate as a part of the Acquisition Fund. Moneys on deposit in the Acquisition Fund shall be used upon receipt of an Authority Order, to pay the costs of issuance of the Notes. Any such Authority Order shall state that such proposed use of moneys in the Acquisition Fund is in compliance with the provisions of this Indenture. In addition, on each Monthly Servicing Fee Payment Date, Monthly Administration Fee Payment Date or Quarterly Distribution Date, to the extent there are insufficient Available Funds in the Collection Fund to make one or more of the transfers required by Section 5.04(b) (other than transfers to repurchase Eligible Loans from a Servicer or any Guaranty Agency as described in clause (a)(i) of the definition of Available Funds) and 5.04(c)(i) through (c)(v) hereof and to the extent moneys are not available to make such transfers from the Capitalized Interest Fund pursuant to Section 5.03 hereof, the Trustee, upon receipt of an Authority Order directing the same, shall withdraw from the Acquisition Fund on such Monthly Servicing Fee Payment Date, Monthly Administration Fee Payment Date or Quarterly Distribution Date, as the case may be (but only from cash and Investment Securities and not from Financed Eligible Loans unless otherwise directed by the Authority in writing), an amount equal to such deficiency and deposit such amount in the Collection Fund. If any funds remain in the Acquisition Fund on the February 2010 Quarterly Distribution Date, or on such earlier date as the Authority may select pursuant to an Authority Order, the Trustee shall, without direction from or notice to the Authority, transfer all such remaining moneys or funds to the Collection Fund on such date. While the Authority will be the legal and beneficial owner of the Financed Eligible Loans, it is understood and agreed that the Trustee will have a security interest in the Financed Eligible Loans for and on behalf of the Registered Owners. In the case of a single Financed Eligible Loan evidenced by a separate promissory note, each such promissory note will be held by the Authority, on behalf of the Truste...
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. Error! Bookmark not defined.Error! Bookmark not defined.
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. 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), (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 Rebate Fund (upon transfer to the Rebate Fund as set forth in the following paragraph). The Trustee shall make or shall authorize the Deposit Agent to make payments to Lenders 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 Loan Acquisition Certificate and all documents, opinions and certificates required t...
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. 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
Acquisition Fund. (a) In general The Secretary shall establish an Acquisition Fund to—
Acquisition Fund. 30 SECTION 5.3.1 Financing of Student Loans.............................................................30 SECTION 5.3.2 Investment of Acquisition Fund; Transfer of Proceeds in Acquisition Fund...............32 SECTION 5.3.3 Capitalized Interest Account...........................................................32 SECTION 5.4 Student Loan Portfolio Fund; Sale of Student Loans.........................................32 SECTION 5.5 Collection Fund............................................................................35 SECTION 5.5.1 Collection Account.....................................................................35 SECTION 5.5.2 Note Payment Account...................................................................35 SECTION 5.5.3 [Reserved.]............................................................................36 SECTION 5.5.4 Expense Account........................................................................36 SECTION 5.5.5 Excess Surplus Account.................................................................37 SECTION 5.5.6 Investment of Collection Fund. ........................................................37 SECTION 5.6 Pledge. ...................................................................................37 SECTION 5.7 Investments. ..............................................................................39 SECTION 5.8 Exchange Agreements; Counterparty Exchange Payments; Issuer Exchange Payments..........................................................................42 SECTION 5.9 Termination................................................................................43
