Administration Fund Sample Clauses
Administration Fund. Subject to Section 2.12 hereof, the Fiscal Agent shall deposit into the Administration Fund, promptly upon receipt thereof, all amounts received from the Servicer (or the Borrower if no Servicer exists for the Loans) designated for deposit into such fund [IF APPLICABLE, together with amounts transferred by the Fiscal Agent from the Project Loan Fund for deposit to the Administration Fund pursuant to Section 4.02]. Amounts in the Administration Fund shall be withdrawn or maintained, as appropriate, by the Fiscal Agent and used FIRST, to pay to the Fiscal Agent when due the Ordinary Fiscal Agent’s Fees and Expenses; SECOND, to pay to the Governmental Lender when due the Governmental Lender Fee; THIRD, to pay when due the reasonable fees and expenses of a Rebate Analyst in connection with the computations relating to arbitrage rebate required under this Funding Loan Agreement and the Project Loan Agreement, upon receipt of an invoice from the Rebate Analyst; FOURTH, to pay to the Fiscal Agent any Extraordinary Fiscal Agent’s Fees and Expenses due and payable from time to time, as set forth in an invoice submitted to the Borrower and the Servicer; FIFTH, to pay to the Governmental Lender any extraordinary expenses it may incur in connection with the Loans or this Funding Loan Agreement from time to time, as set forth in an invoice submitted to the Fiscal Agent and the Servicer; SIXTH, to pay to the Funding Lender Representative any unpaid amounts due under the Continuing Covenant Agreement, as certified in writing by the Funding Lender Representative to the Fiscal Agent; SEVENTH, to make up any deficiency in the Loan Prepayment Fund on any prepayment date of the Funding Loan, to the extent money then available in accordance with Section 4.03(d) hereof in the Loan Prepayment Fund is insufficient to prepay the Funding Loan scheduled for prepayment on such prepayment date; and EIGHTH, to transfer any remaining balance after application as aforesaid to the Revenue Fund. In the event that the amounts on deposit in the Administration Fund are not equal to the amounts payable from the Administration Fund as provided in the preceding paragraph on any date on which such amounts are due and payable, the Fiscal Agent shall give notice to the Borrower and the Servicer of such deficiency and of the amount of such deficiency and request payment within two (2) Business Days to the Fiscal Agent of the amount of such deficiency. Upon payment by the Borrower or the Servicer of ...
Administration Fund. 25.01 Each Employer shall contribute an amount equal to one percent (1%) of the gross employee earnings each month to the NDT Administration Fund. Contributions shall be remitted to the QCCC not later than the 20th of the following month and there shall be a ten percent (10%) assessment as liquidated damages and not as a penalty for remissions made more than three (3) days late.
25.02 The contributions so remitted shall be divided equally between the QCCC and the NDT Management Association to defray the costs of those organizations in negotiating and administering the Agreement and furthering the industry. The QCCC shall remit one-half (½) of the contributions to the Treasurer of the NDT Management Association not later than the 15th day of the month following.
25.03 The Employer contributions together with assessments, if any, may and shall be enforced by the way of grievance by the Council, the cost of which shall be borne equally by the parties. In the event of the Council's failure to enforce this obligation or failure to remit to the Association the obligations on the Council shall be enforceable by grievance by any signatory Employer in the right of the Association or by the Association in its own right in the same manner as if it were an Employer signatory to this Agreement. In the event of such a claim the griever shall have the right to audit the accounts, receipts and remissions of the Council with respect to the Employer contributions.
Administration Fund. If any such fees or expenses are payable by the replaced Servicer and such Servicer is insolvent or otherwise incapable of paying, the Trustee shall pay such fees or expenses from amounts in the Administration Fund, with or without direction from the Corporation, and shall thereafter seek reimbursement therefor from the replaced Servicer. Payments from the Administration Fund for such purposes shall be made by check or wire transfer by the Trustee or a Deposit Agent, but only in accordance with such Corporation Orders. Balances in the Administration Fund shall be applied to the following purposes in the following order of priority: first, to remedy deficiencies in the Indemnification Fund to the extent and in the manner provided in Section 4.5 hereof; second, to remedy deficiencies in the Interest Account to the extent and in the manner provided in Section 4.7.1 hereof for the payment of interest on Class A Notes or Other Senior Obligations payable therefrom; third, to remedy deficiencies in the Principal Account to the extent and in the manner provided in subsections (A) and (C) of Section 4.7.2 hereof for the redemption or payment of principal or the purchase price of Class A Notes or the payment of Other Senior Obligations payable therefrom; fourth, to remedy deficiencies in the Retirement Account to the extent and in the manner provided in Section 4.7.3 hereof for the redemption of Class A Notes or the payment of Other Senior Obligations payable therefrom; fifth, to remedy deficiencies in the Interest Account to the extent and in the manner provided in Section 4.7.1 hereof for the payment of interest on Class B Notes or Other Subordinate Obligations payable therefrom; sixth, to remedy deficiencies in the Principal Account to the extent and in the manner provided in subsections (A) and (C) of Section 4.7.2 hereof for the payment of principal or the purchase price of Class B Notes or the payment of Other Subordinate Obligations payable therefrom; seventh, to remedy deficiencies in the Retirement Account to the extent and in the manner provided in Section 4.7.3 hereof for the redemption of Class B Notes or the payment of Other Subordinate Obligations payable therefrom; and eighth, to pay Costs of Issuance, Note Fees and Administrative Expenses. Notwithstanding the foregoing, Balances in the Administration Fund necessary to pay Administrative Expenses and Note Fees due during the next thirty (30) days shall not be required to be applied pursuant to priorit...
Administration Fund. Each Employer shall contribute an amount equal to one percent (1%) of the gross employee earnings each month to the NDT Administration Fund. Contributions shall be remitted to the QCCC not later than the 20th of the following month and there shall be a ten percent (10%) assessment as liquidated damages and not as a penalty for remissions made more than three (3) days late.
Administration Fund. With respect to each series of Notes, the Trustee shall, upon delivery thereof and from the proceeds thereof, credit to the Administration Fund the amount, if any, specified in the Supplemental Indenture providing for the issuance of such series of Notes. The Trustee shall also credit to the Administration Fund all amounts transferred thereto from the Revenue Fund and the Surplus Account. Except as otherwise provided in this Section 4.3, amounts in the Administration Fund shall, upon receipt by the Trustee of Corporation Orders directing the payment to designated payees in designated amounts for stated services, or, in the case of reimbursement of the Corporation for its expenses, to the Corporation, and in each case certifying that such payment is authorized by this Indenture, be used for and applied only to pay Costs of Issuance, Administrative Expenses and Note Fees or to reimburse another fund, account or other source of the Corporation for the previous payment of Costs of Issuance, Administrative
Administration Fund. The Employer will transmit the contribution to the Administrator designated in writing by the Union by the 20th of the month following the month in which contributions were made. Same amounts should be as negotiated in the NCLRA Construction Agreement. The Employer will transmit the contribution to the Administrator designated in writing by the Union by the 20th of the month following the month in which contributions were made. Same amounts should be as negotiated in the NCLRA Construction Agreement. 3) CLASSIFICATION AND HOURLY RATES OF WAGES Sept 4 July 01 July 01 July 01 July 01 $24.28 $25.03 $25.78 $26.53 $27.28
Administration Fund. Audit .................................................................................................... Enforcement .......................................................................................
Administration Fund. The Trustee shall, until the amount on deposit in the Administration Fund is equal to the Administration Fee, deposit in the Administration Fund an amount equal to the lesser of (I) the product of (aa) a fraction, the numerator of which is 1, and the denominator of which is 12, times (bb) the amount of the Administration Fee, or (II) the amount necessary to cause the amount on deposit in the Administration Fund to be equal to Administration Fee, plus an amount equal to any shortfalls in required deposits from prior periods not previously cured.
Administration Fund. Audit ..................................................... Enforcement ......................................... Duration ................................................ Appendix “A” Requirements for Northern Work.....
Administration Fund. The employer shall contribute an amount of eight cents ($0.8) per hour earned under this Agreement to the General Presidents' Maintenance Industry Administration Fund. Effective May this amount increases to nine cents per hour earned and to ten cents per hour earned May