Common use of Cost of Issuance Account Clause in Contracts

Cost of Issuance Account. (a) The Trustee shall establish and maintain the Cost of Issuance Account into which the Trustee shall make such deposits, and from which the Trustee shall make such withdrawals, as herein specified. The Cost of Issuance Account shall be maintained at the Corporate Trust Office as a segregated account clearly labeled as such. (b) On the Closing Date, the Cost of Issuance Amount shall be deposited in the Cost of Issuance Account from the proceeds of the sale of the Bonds. (c) Promptly after the Closing Date, amounts in the Cost of Issuance Account shall be withdrawn and used by the Trustee in accordance with this Section 3.11 for the purpose of paying Costs of Issuance. Costs of Issuance shall be paid by the Trustee upon receipt of an Issuer Order, which shall direct the payment to designated payees in designated amounts for stated services and certify that such payment is a proper charge against the Cost of Issuance Account therein and is then due and owing for services rendered or expenses incurred. Any amounts remaining therein upon payment of all Costs of Issuance shall be deposited in the Collateral Proceeds Account upon receipt by the Trustee of an Officers' Certificate of the Issuer stating that such moneys are no longer needed for the payment of Costs of Issuance.

Cost of Issuance Account. (a) The Trustee shall establish and maintain the Cost of Issuance Account into which the Trustee shall make such deposits, and from which the Trustee shall make such withdrawals, as herein specified. The Cost of Issuance Account shall be maintained at the Corporate Trust Office as a segregated account clearly labeled as such. (b) On the Closing Date, the Cost of Issuance Amount shall be deposited in the Cost of Issuance Account from the proceeds of the sale of the Bonds. (c) Promptly after the Closing Date, amounts in the Cost of Issuance Account shall be withdrawn and used by the Trustee in accordance with this Section 3.11 3.10 for the purpose of paying Costs of Issuance. Costs of Issuance shall be paid by the Trustee upon receipt of an Issuer Order, which shall direct the payment to designated payees in designated amounts for stated services and certify that such payment is a proper charge against the Cost of Issuance Account therein and is then due and owing for services rendered or expenses incurred. Any amounts remaining therein upon payment of all Costs of Issuance shall be deposited in the Collateral Proceeds Account Reserve Fund upon receipt by the Trustee of an Officers' Certificate of the Issuer stating that such moneys are no longer needed for the payment of Costs of Issuance.