Creation of Refunding Fund Sample Clauses

Creation of Refunding Fund. There is created by the Issuer and ordered maintained as a separate deposit account (except when invested as provided hereinafter) in the custody of the Trustee, a trust fund designated "City of Wabash Martxx Xxxe Industries, Inc. Refunding Fund." The proceeds of the Project Bonds shall be deposited therein, and any proceeds representing accrued interest on the Project Bonds shall remain in the Refunding Fund. Unless otherwise set forth in the applicable Bond Ordinance or Supplemental Indenture relating to the issuance of a series of Additional Bonds, there shall be deposited in a separate fund the proceeds of the sale of any Additional Bonds, other than any proceeds representing accrued interest which shall be deposited in the Bond Fund pursuant to Section 5.03 hereof. Pending disbursement pursuant to the Agreement, the moneys and Eligible Investments to the credit of the Refunding Fund shall constitute a part of the Revenues assigned to the Trustee as security for the payment of the Bond Service Charges.
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Creation of Refunding Fund. Application of Original Proceeds of Bonds; Source of Payment of Bonds............................................51 Section 5.2. Creation of Revenue Fund.....................................................52 Section 5.3. Payments into Revenue Fund...................................................52 Section 5.4. Use of Moneys in Revenue Fund................................................52 Section 5.5. Investment of Moneys.........................................................52 Section 5.6. Moneys Held in Trust.........................................................53 Section 5.7. Repayment to Borrower from Indenture Funds...................................54 Section 5.8.
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Creation of Refunding Fund. There is hereby created and ordered to be established with the Trustee a trust fund of and in the name of the Issuer to be designated “Louisiana Public Facilities Authority Revenue Bonds (Entergy Louisiana, LLC Project) Series 2010 Refunding Fund”.
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Creation of Refunding Fund. There is created by the Issuer and ordered maintained as a separate fund (except when invested as provided hereinafter) in the custody of the Trustee, a trust fund designated "City of Gary, Indiana - The Xxxxxx Partnership, L.P. Refunding Fund." There is hereby created within the Refunding Fund separate accounts to be designated the "Series 1996 A Bonds Refunding Account" and the "Series 1996 B Bonds Refunding Account." The proceeds of the Series 1996 A Bonds shall be deposited in immediately available funds in the Series 1996 A Bonds Refunding Account and the proceeds of the Series 1996 B Bonds shall be deposited in immediately available funds in the Series 1996 B Bonds Refunding Account; provided, however, any proceeds representing accrued interest on the Refunding Bonds shall be deposited in the Bond Fund. Unless otherwise set forth in the applicable Bond Legislation or Supplemental Indenture relating to the issuance of a series of Additional Bonds, there shall be deposited in appropriate accounts established in the Refunding Fund the proceeds of the sale of any Additional Bonds, other than any proceeds representing accrued interest which shall he deposited in the Bond Fund pursuant to Section 5.03 hereof.. If the unexpended proceeds of a prior issue of Bonds remain in the Refunding Fund upon the issuance of any Additional Bonds, the Trustee shall establish a separate subaccount within the Refunding Fund, for accounting purposes, for the deposit of the proceeds of the issue of Additional Bonds in accordance with this Section. Pending disbursement pursuant to the Agreement, the moneys and Eligible Investments to the credit of the Refunding Fund shall constitute a part of the Revenues assigned to the Trustee as security for the payment of the Bond Service Charges.
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Creation of Refunding Fund. There is hereby created and ordered to be established with the Trustee a trust fund of and in the name of the Issuer to be designated "Parish of Xxxx Xxxxxxxxx Pollution Control Revenue Refunding Bonds (Gulf States Utilities Company Project) Series [ ] Refunding Fund".
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Related to Creation of Refunding Fund

  • Purchase of Mortgage Loans; Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans (a) The respective obligations and responsibilities of the Trustee and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Trustee pursuant to Section 4.01, and the obligations of the Master Servicer to the Trustee pursuant to Sections 9.10 and 9.14) shall terminate on the earliest of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property, (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b) and (iii) the Latest Possible Maturity Date; provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James’s, living on the date hereof. Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a “qualified liquidation” under the REMIC Provisions.

  • PURCHASE OF MORTGAGE LOANS AND TERMINATION OF THE TRUST FUND Section 7.01 Purchase of Mortgage Loans; Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans.

  • Segregation of Redemption Proceeds Upon receipt of Written Instructions so directing it, the Custodian shall segregate amounts necessary for the payment of redemption proceeds to be made by the Dividend and Transfer Agent from moneys held for the account of the Fund so that they are available for such payment.

  • Redemptions at the Option of the Trust The Board of Trustees may, from time to time, without the vote or consent of the Shareholders, and subject to the 1940 Act, redeem Shares or authorize the closing of any Shareholder account, subject to such conditions as may be established by the Board of Trustees.

  • Sinking Fund The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

  • Sinking Funds Unless specified on the face hereof, this Note will not be subject to, or entitled to the benefit of, any sinking fund.

  • Liquidation Account The Agent has established and will maintain in existence the Liquidation Account. The Liquidation Account shall be used to receive Collections from the Deposit Accounts pursuant to Section 1.4(b) and to hold amounts set aside for the Purchasers, the Backup Servicer and (if the Servicer is not AFC or an Affiliate of AFC) the Servicer out of the Collections of Pool Receivables prior to the applicable Settlement Dates and for such other purposes described in the Transaction Documents. No funds other than those transferred in accordance with Section 1.4 shall be intentionally transferred into the Liquidation Account.

  • Designation of REMIC(s) As provided in Section 10.03 of the Series Supplement.

  • Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans (a) Concurrently with the execution and delivery of this Agreement, the Depositor does hereby transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02, 2.04, 2.05 and 2.06, in trust, all the right, title and interest of the Depositor in and to the Mortgage Loans. Such conveyance includes, without limitation, the right to all distributions of principal and interest received on or with respect to the Mortgage Loans on and after the Cut-off Date (other than payments of principal and interest due on or before such date) and all such payments due after such date but received prior to such date and intended by the related Mortgagors to be applied after such date, together with all of the Depositor’s right, title and interest in and to the Collection Account and all amounts from time to time credited to and the proceeds of the Collection Account, the Certificate Account and all amounts from time to time credited to and the proceeds of the Certificate Account, any Escrow Account established pursuant to Section 9.06 hereof and all amounts from time to time credited to and the proceeds of any such Escrow Account, any REO Property and the proceeds thereof, the Depositor’s rights under any Insurance Policies related to the Mortgage Loans, and the Depositor’s security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties and any Additional Collateral, and any proceeds of the foregoing, to have and to hold, in trust; and the Trustee declares that, subject to the review provided for in Section 2.02, it (or a Custodian on its behalf) has received and shall hold the Trust Fund, as trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust Fund, Certificates in the authorized denominations evidencing the entire ownership of the Trust Fund. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby assign to the Trustee all of its rights and interest under the Mortgage Loan Sale Agreement including all rights of the Seller under the Servicing Agreements and Transfer Agreements to the extent assigned under such Mortgage Loan Sale Agreement. The Trustee hereby accepts such assignment, and shall be entitled to exercise all rights of the Depositor under the Mortgage Loan Sale Agreement as if, for such purpose, it were the Depositor. The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in creation or assumption by the Trustee of any obligation of the Depositor, the Seller, or any other Person in connection with the Mortgage Loans or any other agreement or instrument relating thereto except as specifically set forth herein.

  • Redemption at the Option of the Trust The Trustees shall have the power to redeem Shares of the Trust (or any Series thereof) at a redemption price determined in accordance with Section 6.1(j), if at any time (i) the total investment in such account does not have a value of at least such minimum amount as may be specified in the Prospectus for the Trust (or such Series) from time to time (ii) the number of Shares held in such account is equal to or in excess of a specified percentage of Shares of the Trust or any Series as set forth from time to time in the applicable Prospectus. In the event the Trustees determine to exercise their power to redeem Shares provided in this Section 6.1(k), the Shareholder shall be notified that the value of his account is less than the applicable minimum amount and shall be allowed 30 days to make an appropriate investment before redemption is processed.

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