Creation of Funds. In the Resolution, the Authority has provided for the creation of the following funds and accounts which funds shall be held by the Authority separate and apart from all other funds and moneys of the Authority and the City:
Creation of Funds. GBRA shall establish, as needed, a Capital Projects Fund, a Debt Service Fund, a Lake XxXxxxxxx Operating Fund, and a Lake XxXxxxxxx Capital Repair and Replacement Fund, pursuant to an approved Bond Resolution or this Contract. Such funds shall be accounted for separately and apart from all other funds of GBRA. GBRA reserves the right to create additional funds pursuant to the terms of any Bond Resolution. The WCID shall establish the CRR Fund and the Hydro Fund. Such funds shall be kept separate and apart from all other funds of the WCID. The WCID reserves the right to create additional funds. The GBRA funds and WCID funds referenced above are collectively referred to hereinafter as the “Funds.”
Creation of Funds. On or before the Closing Date, the Trustee shall establish on its records the following accounts and funds (collectively referred to as the “Funds”) to be maintained by the Trustee for the benefit of the Holders:
Creation of Funds. There are hereby established with the Trustee the following funds and accounts to be held in trust and maintained by the Trustee under this Indenture:
Creation of Funds. 15.1.2.1 Within thirty (30) days after Final Approval of this Agreement, Kmart shall transfer to an interest-bearing trust account (the “Account”) the sum of thirty-six thousand (36,000) dollars (the “Named Plaintiff Fund”), and the sum of eight million (8,000,000) dollars (the “Cash Fund”) representing the cash portion of the Damages Sub-Class Fund. All interest earned on the Account between the time the Funds are deposited and the time the Funds are distributed to the Named Plaintiffs, Damages Settlement Sub- Class Named Plaintiffs, and Damages Settlement Sub-Class, less taxes owed on such interest, shall be used to pay the Named Plaintiffs, Damages Settlement Sub-Class Named Plaintiffs, and Damages Settlement Sub-Class in accordance with the provisions of this Agreement. In addition, in accordance with generally accepted accounting principles, Kmart shall establish and maintain a segregated account on its books, in the amount of five million (5,000,000) dollars (the “Gift Card Fund”) representing the Gift Card portion of the Damages Sub-Class Fund. Together, the Cash Fund and the Gift Card Fund (collectively, the “Funds”) shall be used to satisfy and settle claims of and make payments to and/or provide Gift Cards to members of the Damages Sub-Class who are determined to be “Eligible Claimants” (as that term is defined in Paragraph 15.3 herein).
Creation of Funds. (a) There is hereby created and established and shall be maintained by the District the following funds:
Creation of Funds. The Parties hereby create the following Funds:
Creation of Funds. There are hereby created and established with the Escrow Agent the following special and irrevocable trust funds to be held in the custody of the Escrow Agent and designated as follows:
Creation of Funds. There are hereby created and established with the Escrow Agent a special and irrevocable trust fund designated the 2009 Escrow Fund (the “Escrow Fund”) and a 2017 Costs of Defeasance Fund (the “2017 Costs of Defeasance Fund”), each to be held in the custody of the Escrow Agent separate and apart from other funds of the Bank, the County and the Escrow Agent. The Escrow Fund and the 2017 Costs of Defeasance Fund shall be administered pursuant to this Agreement. The County herewith deposits or causes to be deposited with the Escrow Agent, and the Escrow Agent acknowledges receipt of, immediately available moneys in the amount of $ (the “Escrow Requirement”) from a portion of the funds comprising the County Equity to be deposited by the Escrow Agent to the Escrow Fund, and the amount of the 2017 Costs of Defeasance Funds from a portion of the funds comprising the County Equity to be deposited by the Escrow Agent into the 2017 Costs of Defeasance Fund. As set forth in the verification report (the “Verification Report”) of The Arbitrage Group, Inc. (the “Verification Agent”), delivered on , 2017, to the Bank, the County and the Escrow Agent, the amount of the Escrow Requirement will be sufficient to purchase the Escrowed Securities, which will mature in principal amounts and earn income and earnings at such times, all as described in SCHEDULE A, so that sufficient moneys will be available to pay (i) the interest due and principal payable on the Defeased 2009 Bonds each June 1 and December 1, commencing December 1, 2017 through and including June 1, 2019, and (ii) to pay the principal outstanding of the Callable 2009 Bonds on the Callable 2009 Bonds Redemption Date at par. The Verification Agent will verify that the deposit in the Escrow Fund of the Escrow Requirement to purchase the Escrowed Securities will produce sufficient funds to pay interest due and principal payable on the Defeased 2009 Bonds until June 1, 2019, and to redeem on said date all of the Callable 2009 Bonds maturing thereafter, all of which have been called for redemption on said date, at par. The 2017 Costs of Defeasance Funds shall be used to pay costs of the Defeasance Project as provided in Section 2.10 hereof.
Creation of Funds. So as to ensure to the greatest extent possible a source of funds for repayment of the Loan, there is hereby created and ordered to be established within the treasury of the City a separate and distinct trust fund to be known as the Gaming Revenue Fund for the purpose of setting aside the Gaming Revenues and paying the City's Payments pursuant to this Agreement. All moneys deposited in the Gaming Revenue Fund shall be applied in accordance with the provisions of this Agreement. The Comptroller or other financial officer of the City shall keep and maintain adequate records pertaining to the Gaming Revenue Fund and all disbursements therefrom. There shall also be established by the Port Authority a separate and distinct trust fund known as the Gaming Relocation Fund.
