Common use of Acquisition Fund Clause in Contracts

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 the Lessee and delivered to the Escrow Agent. Where requisitions involve titled motor vehicles, the requisition shall also include: (i) Manufacturer's Certificate of Origin. (ii) Motor vehicle paperwork appropriate to state of registration, noting Key Government Finance, Inc. as lien holder. (iii) Insurance certificate naming Key Government Finance, Inc., its successors and assigns as sole loss payee and additional insured for the specified equipment.

Acquisition Fund. There is hereby established in the custody of Escrow Agent an escrow fund designated as the "City of Chula Vista Haines City 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 $287,454.711,001,178.71. 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 LesseeLessee and approved by the Lessor, signed by an authorized individual, and approved by Lessor, individual 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 the Lessee and delivered to the Escrow Agent. Where requisitions involve titled motor vehicles, the requisition shall also include: (i) Manufacturer's Manufacturers Certificate of Origin. (ii) Motor vehicle paperwork appropriate to state of registration, noting Key Government Finance, Inc. as lien holder. (iii) Insurance certificate naming Key Government Finance, Inc., its successors and assigns as sole loss payee and additional insured for the specified equipment.

Acquisition Fund. There is hereby established in the custody of Escrow Agent an escrow fund designated as the "City of Chula Vista Greenfield, IN 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 $287,454.711,199,242.00. 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 the Lessee and delivered to the Escrow Agent. Where requisitions involve titled motor vehicles, the requisition shall also include: (i) Manufacturer's Certificate of Origin. (ii) Motor vehicle paperwork appropriate to state of registration, noting Key Government Finance, Inc. as lien holder. (iii) Insurance certificate naming Key Government Finance, Inc., its successors and assigns as sole loss payee and additional insured for the specified equipment.

Acquisition Fund. There is hereby established in the custody of Escrow Agent an escrow fund designated as the "City of Chula Vista Mountain View Los Altos Union High School District 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 Lessee 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 Escrow Agent xxxxxx hereby agrees to act as agent for Xxxxxx Lessor 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, XxxxxxLessor'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 the Lessee and delivered to the Escrow Agent. Where requisitions involve titled motor vehicles, the requisition shall also include: (i) Manufacturer's Certificate of Origin. (ii) Motor vehicle paperwork appropriate to state of registration, noting Key Government Finance, Inc. as lien holder. (iii) Insurance certificate naming Key Government Finance, Inc., its successors and assigns as sole loss payee and additional insured for the specified equipment.of