Contingency Account Sample Clauses

Contingency Account. A Contingency Account will be established, with sub- accounts for each Service Area, to cover contingencies related to project implementation or implementation of adaptive management plans for established compensatory mitigation projects. This is to include expenses incurred during the Establishment Phase of each approved compensatory mitigation projects. Funds from the Contingency Account may be used as Financial Assurances on a statewide basis. The Contingency Account will be funded initially by deposits of 20 percent of credit fees collected. The percentage of credit fees allocated to the Contingency Account may be adjusted by MARS as necessary to sustain the account and associated account purposes, and informed by ILF Program project history.
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Contingency Account. UECC shall: (a) open and maintain, on terms and conditions acceptable to the Association, an interest bearing Dollar or Uganda Shilling denominated account (“Contingency Account”) in a commercial bank acceptable to the Association for any Standby Liquidity Option and/or Partial Risk Guarantee offered pursuant to a Participation Agreement; (b) upon approval by the Association of a Participation Agreement, transfer out of the proceeds of the UECC Subsidiary Financing and into the relevant Contingency Account a pre-determined percentage-based amount deemed sufficient along with the interest income referred to in subparagraph (c) of this paragraph to fully fund any Standby Liquidity Option and/or Partial Risk Guarantee; (c) ensure that any interest income earned on principal in the Contingency Account is retained in the Contingency Account and thereafter aggregated to principal to be used to cover the Standby Liquidity Option and/or Partial Risk Guarantee; and (d) ensure that any unused funds left over in the Contingency Account shall not be reallocated or otherwise disposed of until after the exercise or expiration of the Standby Liquidity Option, or the expiration of the Partial Risk Guarantee, but subject to full settlement of any amount due or outstanding under the Partial Risk Guarantee, as the case may be, and in accordance with the terms and conditions set forth in the CSF Operational Manual.
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Contingency Account. Borrower shall maintain a special depository account (the "Contingency Account") (Account No. 376620-01) (and such account shall be titled appropriately so as to identify the nature of such account). Borrower agrees and shall cause the Contingency Account to be funded with all insurance and condemnation proceeds payable to Agent in accordance with Section 5.18.
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Contingency Account. All cash on deposit in Seller's account at Chase Manhattan Bank entitled "API Special Postal Account".
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Contingency Account. An internal account to which is posted Commissions of Sub-ISRs not qualified to receive Commissions after expiration or termination of the Sub-ISR’s Agreement. Contingency Accounts are the sole property of NMC Field Services.
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Contingency Account. The Agent, at the request of the Borrower, shall maintain two special accounts (the “Rova I Contingency Account” and the “Rova II Contingency Account”) at BNY and such accounts shall be titled “Roanoke Rova I Contingency Account” and “Rova II Contingency Account”. The Agent shall have “control” (within the meaning of the UCC) over the Contingency Account in accordance with the terms of the Deposit Agreement. All of the monies specified below shall be deposited in the Contingency Accounts as set forth below. On the Amendment No. 10 Execution Date, the proceeds of the funds which were on deposit in the Original Rova I Contingency Account shall be deposited in the Rova I Contingency Account and proceeds of the funds which were on deposit in the Original Rova II Contingency Account shall be deposited in the Rova II Contingency Account. Borrower hereby irrevocably authorizes Agent to cause BNY to open sub-accounts within the Contingency Accounts for ease of administration, and to cause BNY to make withdrawals from the Contingency Accounts pursuant to this Agreement for the purposes set forth below, or, where not specified or determinable, as Agent shall reasonably deem necessary or advisable:
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Contingency Account. Borrower shall maintain two special depository accounts (the “Rova I Contingency Account” and the “Rova II Contingency Account”). All of the monies specified below shall be deposited in the Contingency Accounts as set forth below, and Borrower has irrevocably instructed Contractor to make all of the payments by Contractor described below into the Contingency Accounts as set forth below. Borrower hereby irrevocably authorizes Agent to open sub-accounts within the Contingency Accounts for ease of administration, and to make withdrawals from the Contingency Accounts pursuant to this Agreement for the purposes set forth below, or, where not specified or determinable, as Agent shall reasonably deem necessary or advisable:
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Contingency Account. In addition, a contingency account in the amount of Two hundred fifty two thousand seven hundred eight two dollars ($252,782), has been established to be held in account by the Owner. During the course of the project, should unforeseen cost increases be encountered by the Design/Builder, the Design/Builder will submit documentation supporting the cost increase to the Owner for review and approval as an increase to the Guaranteed Maximum Price.
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Contingency Account. Borrower shall have created and funded the Contingency Account.
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Related to Contingency Account

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

  • Pre-Funding Account (a) No later than the Closing Date, the Securities Administrator shall establish and maintain a trust account which at all times shall be an Eligible Account and shall be titled “Pre-Funding Account, Xxxxx Fargo Bank, National Association, in trust for the registered holders of Deutsche Alt-A Securities, Mortgage Loan Trust, Series 2006-AR2, Mortgage Pass-Through Certificates” (the “Pre-Funding Account”). The Securities Administrator shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funded Amount remitted on the Closing Date by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust for the Certificateholders for the uses and purposes set forth herein. (b) The Securities Administrator will invest funds deposited in the Pre-Funding Account only as directed in writing by the Depositor (and such amounts shall not be invested if no direction is received by Securities Administrator) in Permitted Investments with a maturity date (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator or an Affiliate manages or advises such investment, (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator or an Affiliate manages or advises such investment or (iii) within one (1) Business Day of the Securities Administrator’s receipt thereof. For federal income tax purposes, the Depositor shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Depositor. The Depositor shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor. At no time will the Pre-Funding Account be an asset of any REMIC created hereunder. (c) Amounts on deposit in the Pre-Funding Account shall be withdrawn by the Securities Administrator as follows: (i) On any Subsequent Transfer Date, the Securities Administrator shall withdraw from the Pre-Funding Account an amount equal to 100% of the Principal Balances of the related Subsequent Loans as of the Subsequent Cut-Off Date, transferred and assigned to the Trustee for deposit in the Trust Fund on such Subsequent Transfer Date and pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.6 with respect to such transfer and assignment; (ii) If the amount on deposit in the Pre-Funding Account (exclusive of any investment income therein) has not been reduced to zero during the Pre-Funding Period, on the Distribution Date immediately following the termination of the Pre-Funding Period, the Securities Administrator shall deposit into the Distribution Account any amounts remaining in the Pre-Funding Account (exclusive of any investment income therein) for distribution in accordance with the terms hereof; (iii) To withdraw any amount not required to be deposited in the Pre-Funding Account or deposited therein in error; and (iv) To clear and terminate the Pre-Funding Account upon the earlier to occur of (A) the Distribution Date immediately following the end of the Pre-Funding Period and (B) the termination of this Agreement, with any amounts remaining on deposit therein being paid to the Holders of the Class A Certificates then entitled to distributions in respect of principal. Withdrawals pursuant to clauses (i), (ii) and (iii) shall be treated as contributions of cash to REMIC I on the date of withdrawal.

  • Operating Accounts (a) Maintain all of Borrower’s Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent, which Control Agreement must be in such form and substances as is reasonably acceptable to Collateral Agent (it being agreed and understood that the Control Agreements that Collateral Agent is entering into with respect to Borrower’s Collateral Accounts maintained with Bank of America on the Effective Date are not in such form and substance as is not reasonably satisfactory to Collateral Agent). (b) Borrower shall provide Collateral Agent five (5) days’ prior written notice before Borrower or any of its Subsidiaries establishes any Collateral Account. In addition, for each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution at or with which such Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Collateral Agent’s Lien in such Collateral Account in accordance with the terms hereunder prior to the establishment of such Collateral Account, which Control Agreement must be in such form and substance as is reasonably satisfactory to Collateral Agent and may not be terminated without prior written consent of Collateral Agent. The provisions of the previous sentence and subsection (a) above shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Collateral Agent by Borrower as such in the Perfection Certificates and (ii) BofA Credit Card Account so long as such account is maintained exclusively for the purpose of securitizing Borrower’s Indebtedness described in clause (g) of the definition of Permitted Indebtedness and the balance in such account does not exceed Three Hundred One Thousand Dollars ($301,000.00). (c) Neither Borrower nor any of its Subsidiaries shall maintain any Collateral Accounts except Collateral Accounts maintained in accordance with Sections 6.6(a) and (b); provided, however, Borrower may continue to maintain its Collateral Accounts, set forth on the Perfection Certificates on the Effective Date, with Bank of America; provided, further, that Borrower shall close all of its Collateral Accounts maintained with Bank of America on the Effective Date (other than the BofA Credit Card Account) and deliver to Collateral Agent evidence (in such form and substance as is reasonably acceptable to Collateral Agent) of closure of all of such Collateral Accounts within thirty (30) days after the Effective Date.

  • FUNDING CONTINGENCY a. In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to completion of the work in this Contract, DCYF may: (1) Terminate this Contract with ten (10) days advance notice. If this Contract is terminated, the parties shall be liable only for performance rendered or costs incurred in accordance with the terms of this Contract prior to the effective date of termination; (2) Renegotiate the terms of the Contract under the new funding limitations and conditions; (3) After a review of project expenditures and deliverable status, extend the end date of this Contract and postpone deliverables or portions of deliverables; or (4) Pursue such other alternatives as the parties mutually agree to in writing. b. Any termination under this Section (FUNDING CONTINGENCY) shall be considered a Termination for Convenience.

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Management Accounts To the extent that it owns any Management Account (including any lock-box related thereto), each Guarantor shall comply with Section 5.1 of the Base Indenture with respect to each such Management Account (including any lock-box related thereto).

  • Primary Accounts Borrower will maintain its primary depository and operating accounts with Bank.

  • Checking Accounts A monthly bank reconciliation shall be conducted by Subrecipient. All checks, stubs, etc. shall be pre-numbered and accounted for, including all voided checks. Check stubs, canceled checks, and deposit slips must be readily available for audit purposes.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

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