Common use of Acquisition Fund Clause in Contracts

Acquisition Fund. A special fund is hereby created and established with the First National Bank of Xxxxxxxx, 000 Xxxxx Xxxxxxxx Xxxxxx, Gillette, Wyoming (the "Bank"), to be designated as the "Campbell County School District No. 1 Bus Acquisition and Capitalized Interest Fund, Series 2023 Lease Purchase" (the "Acquisition Fund"), and within such fund the Acquisition Account and the Capitalized Interest Account. Upon commencement of this Agreement, the Lessor shall deposit the sum of $197,409.00 into the Acquisition Account. The funds in the accounts within the Acquisition Fund shall be deposited in a money market fund which shall pay interest consistent with the rate that the Bank pays other political subdivisions for public funds invested at said Bank. The Lessee shall be entitled to draw funds from the Acquisition Account for equipment which has been paid for directly by the Lessee to the Vendor, if any, pursuant to Purchase Agreements. Future draws from the Acquisition Account up to the amount in said account may be made by the Lessee at the time of each purchase of Equipment under this Lease. At the time of each draw request, the Lessee shall provide the Bank with a copy of the Purchase Agreement and the invoice for the respective Equipment which is the subject of the draw request. Upon receipt of an appropriate draw request and supporting documentation for all Equipment acquired after the commencement of this Agreement, including documents necessary to perfect the Lessor's security interest set forth in Section 3.5 hereof, the Bank shall make payment from the Acquisition Account directly to the Vendor or to the Lessee if the Lessee has already paid the Vendor directly. In no event shall any draw, or the aggregate amount of all draws from the Acquisition Account exceed the amount of $197,409.00. Any funds remaining in the Acquisition Account after the purchase of all Equipment under this Agreement shall be transferred and delivered to the Lessor for application toward the Rental Payments due for the Initial Tenn of this Agreement.

Acquisition Fund. A special The District shall establish, maintain and hold in trust a separate fund is hereby created and established with the First National Bank of Xxxxxxxx, 000 Xxxxx Xxxxxxxx Xxxxxx, Gillette, Wyoming (the "Bank"), to be designated as the "Campbell County School District No. 1 Bus Acquisition and Capitalized Interest Fund, Series 2023 Lease Purchase" (the "“Acquisition Fund"), and within such fund the Acquisition Account and the Capitalized Interest Account. Upon commencement of this Agreement, the Lessor shall deposit the sum of $197,409.00 into the Acquisition Account. .” The funds moneys in the accounts within the Acquisition Fund shall be deposited held by the District in a money market fund which shall pay interest consistent with trust and applied by the rate that Treasurer of the Bank pays other political subdivisions for public funds invested at said BankDistrict to the payment of the costs of acquisition and construction of the WIFIA-Financed Portion of the WIFIA Project and of expenses incidental thereto. The Lessee shall be entitled to draw funds Before any payment is made from the Acquisition Account for equipment which has been paid for directly Fund by the Lessee to the Vendor, if any, pursuant to Purchase Agreements. Future draws from the Acquisition Account up to the amount in said account may be made by the Lessee at the time of each purchase of Equipment under this Lease. At the time of each draw requestTreasurer, the Lessee shall provide the Bank with a copy Manager of the Purchase Agreement District, acting as agent of the Authority, shall cause to be filed with the Treasurer a certificate of the District and the invoice for Authority in the respective Equipment which is the subject of the draw requestform set forth in Exhibit B to this Installment Purchase Agreement. Upon receipt of an appropriate draw request and supporting documentation for all Equipment acquired after each such certificate, the commencement of this Agreement, including documents necessary to perfect Treasurer will pay the Lessor's security interest amount that is set forth in Section 3.5 hereofsuch certificate as directed by the terms thereof or disburse funds to the District for such payment as directed by the District in such certificate. The Treasurer need not make any such payment if it has received notice of any lien, right to lien, attachment upon or claim affecting the right to receive payment of any of the moneys to be so paid, which has not been released or will not be released simultaneously with such payment. When the WIFIA-Financed Portion of the WIFIA Project shall have been constructed and acquired in accordance with this Installment Purchase Agreement, a statement of the District 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 Treasurer and the Authority Lender by the Manager of the District. Upon the receipt of such statement, the Bank Treasurer shall make payment from transfer any remaining balance in the Acquisition Account directly to the Vendor or to the Lessee if the Lessee has already paid the Vendor directly. In no event shall any draw, or the aggregate amount of all draws from the Fund which is not needed for Acquisition Account exceed Fund purposes (but less the amount of $197,409.00. Any funds remaining any such retention, which amount shall be certified to the Treasurer by the Manager of the District) to the Authority Lender for deposit in the Acquisition Account after the purchase of all Equipment under this Agreement shall be transferred and delivered to the Lessor for application toward the Rental Payments due for the Initial Tenn of this AgreementWIFIA Debt Service Account.

Acquisition Fund. A special fund is hereby created and established with the First National Bank of Xxxxxxxx, 000 Xxxxx Xxxxxxxx Xxxxxx, Gillette, Wyoming (the "Bank"), to be designated as the "Campbell County School District No. 1 Bus Acquisition and Capitalized Interest Fund, Series 2023 2024 Lease Purchase" (the "Acquisition Fund"), and within such fund the Acquisition Account and the Capitalized Interest Account. Upon commencement of this Agreement, the Lessor shall deposit the sum of $197,409.00 into the Acquisition Account. The funds in the accounts within the Acquisition Fund shall be deposited in a money market fund which shall pay interest consistent with the rate that the Bank pays other political subdivisions for public funds invested at said Bank. The Lessee shall be entitled to draw funds from the Acquisition Account for equipment which has been paid for directly by the Lessee to the Vendor, if any, pursuant to Purchase Agreements. Future draws from the Acquisition Account up to the amount in said account may be made by the Lessee at the time of each purchase of Equipment under this Lease. At the time of each draw request, the Lessee shall provide the Bank with a copy of the Purchase Agreement and the invoice for the respective Equipment which is the subject of the draw request. Upon receipt of an appropriate draw request and supporting documentation for all Equipment acquired after the commencement of this Agreement, including documents necessary to perfect the Lessor's security interest set forth in Section 3.5 hereof, the Bank shall make payment from the Acquisition Account directly to the Vendor or to the Lessee if the Lessee has already paid the Vendor directly. In no event shall any draw, or the aggregate amount of all draws from the Acquisition Account exceed the amount of $197,409.00385,200.00. Any funds remaining in the Acquisition Account after the purchase of all Equipment under this Agreement shall be transferred and delivered to the Lessor for application toward the Rental Payments due for the Initial Tenn of this Agreement.

Acquisition Fund. A special fund is hereby created With respect to each series of Notes, the Trustee shall, upon delivery to the initial purchasers thereof and established with from the First National Bank proceeds thereof, credit to the Acquisition Fund the amount, if any, specified in the Supplemental Indenture providing for the issuance of Xxxxxxxx, 000 Xxxxx Xxxxxxxx Xxxxxx, Gillette, Wyoming such series of Notes. The Trustee shall also deposit in the Acquisition Fund: (the "Bank"), i) any funds to be designated transferred thereto from the Revenue Fund as provided in Section 4.6 hereof or from the "Campbell County School District NoSurplus Fund as provided in Section 4.8 hereof, and (ii) any other amounts specified in a Supplemental Indenture to be deposited therein. 1 Bus In addition, the Trustee shall also credit to the Acquisition and Capitalized Interest Fund, Series 2023 Lease Purchase" 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"), and within such fund the Acquisition Account and the Capitalized Interest Account. Upon commencement of this Agreement, the Lessor shall deposit the sum of $197,409.00 into the Acquisition Account. The funds Balances in the accounts within the Acquisition Fund shall be deposited 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 money market fund which shall pay interest consistent with Supplemental Indenture providing for the rate that issuance of such Notes, (d) the Bank pays other political subdivisions for public funds invested at said Bankpayment 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 Lessee Trustee shall be entitled make or shall authorize the Deposit Agent to draw funds 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 for equipment in the Acquisition Fund from which has been paid for directly such purchase price is to be withdrawn), including the payment of reasonable transfer or assignment fees, if applicable, upon receipt by the Lessee Trustee of an Eligible Loan Acquisition Certificate and all documents, opinions and certificates required thereby. Within three (3) Business Days after the disbursement of moneys from the Acquisition Fund for the purchase of Eligible Loans pursuant to an Eligible Loan Acquisition Certificate, the Corporation shall forward to the VendorTrustee an updating Corporation Certificate substantially in the form of Exhibit D hereto with respect to such Eligible Loans. The Trustee shall make or shall authorize the Deposit Agent to make payments from the Acquisition Fund for the origination of Eligible Loans upon receipt by the Trustee of an Eligible Loan Origination Certificate and all documents, opinions and certificates required thereby. Anything in this Section 4.2 to the contrary notwithstanding, any Eligible Loan to be Financed from Balances in the Acquisition Fund shall be described in Section 144(b)(1) (if Financed from the proceeds of Tax Exempt Notes) and Section 150(d) (if Financed prior to the Section 150(d)(3) Transfer) of the Code. Balances in the Acquisition Fund (other than any portion of such Balance consisting of Student Loans) shall be (i) transferred to the credit of the Rebate Fund to the extent necessary, after transfers thereto from the Revenue Fund, the Surplus Fund, the Reserve Fund, the Administration Fund and the Note Fund, to make any deposit to the credit of the Rebate Fund required by Section 4.5 hereof, (ii) after such transfer, if any, to be made pursuant to the preceding clause (i) has been taken into account, transferred to the credit of the Note Fund on the last Business Day preceding any Interest Payment Date, Principal Payment Date or Redemption Date to the extent required to pay the Debt Service due on the Class A Notes and any Other Senior Obligations, all as provided in Section 4.7 hereof, and (iii) after such transfers, if any, to be made pursuant to the preceding clauses (i) and (ii) have been taken into account, transferred to the credit of the Principal Account on any Purchase AgreementsDate or Mandatory Tender Date with respect to Class A Notes, to the extent required by Section 4.7.2(C) hereof. Future draws Transfers of amounts from the Acquisition Account up Fund to the amount in said account may Rebate Fund and the Note Fund pursuant to the preceding sentence shall be made by the Lessee at Trustee without any further authorization or direction. In the time of each purchase of Equipment event that, after transfers to the Rebate Fund from all other Funds and Accounts, a deficiency exists in the Rebate Fund under this Lease. At the time of each draw request, the Lessee shall provide the Bank with a copy of the Purchase Agreement and the invoice for the respective Equipment which is the subject of the draw request. Upon receipt of an appropriate draw request and supporting documentation for all Equipment acquired after the commencement of this Agreement, including documents necessary to perfect the Lessor's security interest set forth in Section 3.5 4.5 hereof, the Bank Trustee shall use its best efforts to sell Student Loans included in the Balance of the Acquisition Fund at the best price available to the extent of such deficiency; and the proceeds of any such sale shall be credited to the Rebate Fund, to the extent of any deficiency in the Rebate Fund, and otherwise to the Revenue Fund. If any amounts have been transferred to either or both of the Rebate Fund or the Note Fund pursuant to this paragraph, the Trustee shall, to the extent necessary to cure the deficiency in the Acquisition Fund as a result of such transfer or transfers, transfer to the Acquisition Fund amounts from the Revenue Fund in the manner provided in Section 4.6 hereof. The unpaid principal balance of Financed Student Loans in the Acquisition Fund shall be included in the Balance of the Acquisition Fund until such Financed Student Loans shall have been paid in full or sold or exchanged as herein provided. Interest and principal payments, including Insurance payments and Guarantee payments, and Special Allowance Payments received with respect to Financed Student Loans (excluding, except as otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed) and proceeds from the sale or other conveyance of Financed Student Loans (except as otherwise provided in the preceding paragraph) shall be credited, in the case of such principal and interest, including Insurance payments and Guarantee payments, and Special Allowance Payments, to the Revenue Fund as provided in Section 4.6 hereof; in the case of the portion of the proceeds of such sale or other conveyance which represents payment of the principal of Financed Student Loans sold, to the Principal Account; and in the case of the portion of the proceeds of such sale or other conveyance which represent payment of accrued interest on and Special Allowance Payments with respect to Financed Student Loans sold, to the Interest Account. The Corporation may direct the Trustee to sell to any purchaser one or more Student Loans Financed with moneys in the Acquisition Fund in exchange for one or more Eligible Loans (of approximately the same aggregate Principal Balance and accrued noncapitalized borrower interest as such Financed Student Loans) which (1) evidence the additional obligations of Eligible Borrowers whose Student Loans have been previously Financed hereunder, or (2) are to be substituted for Financed Student Loans which are not Eligible Loans; provided that (I) no such sale and exchange shall cause the Corporation to breach any of its representations or covenants contained in the Tax Matters Certificate furnished by the Corporation in connection with the issuance of any series of Tax Exempt Notes, and (II) prior to any such sale and exchange the Trustee shall have received an Eligible Loan Acquisition Certificate and an updating Corporation Certificate substantially in the form of Exhibit D hereto and all documents, opinions and certifications required thereby with respect to all Eligible Loans to be so transferred to this Indenture in exchange, together with (A) except in the case of Eligible Loans referred to in the preceding clause (2) or unless the Principal Balance of Eligible Loans sold or exchanged within the preceding twelve (12)-month period pursuant to this paragraph will not, together with the Principal Balance of Eligible Loans then proposed to be sold or exchanged, exceed $1,000,000, a Corporation Certificate that, based on a Cash Flow Projection, such sale and exchange will not materially adversely affect the Corporation's ability to pay Debt Service on the Outstanding Notes and Outstanding Other Obligations, Carry-Over Amounts (including accrued interest thereon) with respect to Outstanding Notes, Administrative Expenses or Note Fees or to make payment the required deposits to the credit of the Rebate Fund, and (B) a written instrument satisfactory to the Trustee assigning all right, title, interest and privilege of the Corporation in, to and under the student loan purchase agreement pursuant to which each such Eligible Loan to be transferred to this Indenture was acquired by the Trustee on behalf of the Corporation, to the extent such right, title, interest and privilege relate to such Eligible Loan; and thereafter the Corporation and the Trustee shall amend the Exhibit or Exhibits to the applicable Supplemental Indentures to reflect the addition of such student loan purchase agreements and such agreements shall become Student Loan Purchase Agreements for all purposes under this Indenture. Any money received by the Corporation in connection with a sale and exchange of Financed Student Loans pursuant to this paragraph, including those moneys representing the excess of the aggregate Principal Balance of and accrued noncapitalized borrower interest on such Financed Student Loans released from this Indenture over the aggregate Principal Balance of and accrued noncapitalized borrower interest on the Eligible Loans transferred to this Indenture in exchange therefor, shall be deposited to the credit of the Principal Account and the Interest Account in accordance with the preceding paragraph. Any such Eligible Loans so transferred to this Indenture in exchange for Student Loans previously Financed from the Acquisition Account directly Fund shall, for all purposes of this Indenture, be deemed to the Vendor or to the Lessee if the Lessee has already paid the Vendor directly. In no event shall any draw, or the aggregate amount of all draws from the Acquisition Account exceed the amount of $197,409.00. Any funds remaining have been Financed with moneys in the Acquisition Account after the purchase of all Equipment under this Agreement Fund and shall be transferred and delivered credited to the Lessor Acquisition Fund and included in the Balance thereof. Pending application of moneys in the Acquisition Fund for application toward one or more authorized purposes, such moneys shall be invested in Investment Securities, as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be deposited in the Rental Payments due for the Initial Tenn of this AgreementRevenue Fund as provided in Section 4.6 hereof.