Disbursements from Acquisition Account Sample Clauses

Disbursements from Acquisition Account. The Authority in the Resolution has authorized the Trustee to make payments from the Acquisition Account to pay the Authority's Facility Cost subject to this Lease, upon receipt of a requisition certificate signed by an authorized official of the Educational Institution or the State and approved by the Authority stating with respect to each payment to be made: (i) the requisition certificate number, (ii) the name and address of the person, firm or corporation to whom payment is due, (iii) a description of the Authority's Facility Cost covered by such requisition certificate and a statement that the payment is being made for a cost or expense properly chargeable to the Acquisition Account, (iv) the amount to be paid, (v) that each obligation mentioned therein is a proper charge against the Acquisition Account, and has not been the basis of any previous payment, (vi) that the cost to the Educational Institution or the State of the portion of the Facility covered by the requisition certificate is not less than the amount to be paid to the Educational Institution or the State thereunder, (vii) that all bills of sale necessary to vest title to the portion of the Facility covered by the requisition certificate in the Authority have been executed and delivered or assigned by the Educational Institution or the State to the Authority, (viii) that neither the Educational Institution nor the State is in default under this Lease and that nothing has occurred to the knowledge of the State or the Educational Institution which prevents the performance of the Educational Institution's or the State's obligations under this Lease, and (ix) that after the payment of such requisition the amount on deposit in the Acquisition Account together with other moneys to be available, including anticipated proceeds, if any, from the issuance of additional Authority Debt, will be sufficient to acquire the Facility. The Educational Institution shall also provide the Authority and the Trustee with the information identified in the Construction Agreement. The State and the Educational Institution shall permit the Authority, [the Agent] and the Trustee, upon request, to inspect the records of the State and the Educational Institution relating to the Authority's Facility Cost.
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Disbursements from Acquisition Account. The portion of the proceeds of the sale and delivery of the 2024 Series B Bonds deposited into the 2024 Series B subaccount of the Acquisition Account pursuant to Section 4.1 hereof shall be applied to purchase (i) 2024 Series B Xxxxxx Xxx Certificates backed by 2024 Series B Mortgage Loans, (ii) up to $20,000,000 of 2024 Series B Governmental Mortgage Loans, and (iii) up to $5,600,000 of Second Mortgage Loans. Such 2024 Series B Xxxxxx Xxx Certificates shall be purchased on or after the Closing Date at a purchase price of par plus accrued interest thereon. The par amount of such 2024 Series B Xxxxxx Xxx Certificates shall be paid from the 2024 Series B subaccount of the Acquisition Account and any accrued interest on such 2024 Series B Xxxxxx Xxx Certificates shall be paid from the 2024 Series B subaccount of the Revenue Fund. The 2024 Series B Governmental Mortgage Loans and any Second Mortgage Loans shall be purchased at par and paid from the 2024 Series B subaccount of the Acquisition Account.
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Disbursements from Acquisition Account. The portion of the proceeds of the sale and delivery of the 2017 Series A Bonds deposited into the 2017 Series A subaccount of the Acquisition Account pursuant to Section 4.1 hereof and the other moneys deposited into the 2017 Series A subaccount and the 2017 Series B subaccount of the Acquisition Fund pursuant to Section 4.4 hereof shall be applied to purchase Xxxxxx Xxx Certificates backed by 2017 Series A Mortgage Loans or 2017 Series B Mortgage Loans, as the case may be. Such Xxxxxx Xxx Certificates shall be purchased on the Closing Date at a purchase price of par plus accrued interest thereon. The par amount of such Xxxxxx Xxx Certificates shall be paid from the 2017 Series A subaccount of the Acquisition Account or the 2017 Series B subaccount of the Acquisition Account, as applicable, and any accrued interest on such Xxxxxx Xxx Certificates shall be paid from the 2017 Series A subaccount of the Revenue Fund or the 2017 Series B subaccount of the Revenue Fund, as applicable. (End of Article V)
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Disbursements from Acquisition Account. The portion of the proceeds of the sale and delivery of the 2018 Series C Bonds deposited into the 2018 Series C subaccount of the Acquisition Account pursuant to Section 4.1 hereof shall be applied to purchase (i) Xxxxxx Xxx Certificates backed by 2018 Series C Mortgage Loans, and (ii) Second Mortgage Loans. Such Xxxxxx Xxx Certificates shall be purchased on or after the Closing Date at a purchase price of par plus accrued interest thereon. The par amount of such Xxxxxx Xxx Certificates shall be paid from the 2018 Series C subaccount of the Acquisition Account and any accrued interest on such Xxxxxx Xxx Certificates shall be paid from the 2018 Series C subaccount of the Revenue Fund.
Sample 1
Disbursements from Acquisition Account. The portion of the proceeds of the sale and delivery of the 2024 Series A Bonds deposited into the 2024 Series A subaccount of the Acquisition Account pursuant to Section 4.1 hereof shall be applied to purchase (i) 2024 Series A Xxxxxx Xxx Certificates backed by 2024 Series A Mortgage Loans and (ii) up to $5,000,000 of Second Mortgage Loans. Such 2024 Series A Xxxxxx Xxx Certificates shall be purchased on or after the Closing Date at a purchase price of par plus accrued interest thereon. The par amount of such 2024 Series A Xxxxxx Xxx Certificates shall be paid from the 2024 Series A subaccount of the Acquisition Account and any accrued interest on such 2024 Series A Xxxxxx Xxx Certificates shall be paid from the 2024 Series A subaccount of the Revenue Fund. Any Second Mortgage Loans shall be purchased at par and paid from the 2024 Series A subaccount of the Acquisition Account.
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Disbursements from Acquisition Account. The proceeds of the sale and delivery of the 2002 Series A Tax-Exempt Bonds deposited into the 2002 Series A subaccount of the Acquisition Account pursuant to Section 4.2 hereof shall be used to redeem the 1992A Bonds prior to maturity on May 1, 2002 and to pay at maturity or to redeem prior to maturity certain other outstanding obligations as provided in Sections 4.2 and 4.3 hereof and in the Funds Exchange Agreement. A portion of the proceeds of the sale and delivery of the 2002 Series A-1 Bonds and amounts received in exchange for a portion of the proceeds of the sale and delivery of the 2002 Series A Tax-Exempt Bonds and deposited into the 2002 Series A subaccount of the Acquisition Account pursuant to Section 4.1 and Section 4.2 hereof, respectively, shall be applied to make or purchase 2002 Series A Mortgage Loans. The 2002 Series A Mortgage Loans shall bear interest at such rate or rates and shall be purchased at such price or prices specified by the Authority as shall be consistent with the then current Cash Flow Statement and an Authority Certificate demonstrating that the 2002 Series A Class I Asset Requirement and the 2002 Series A Class II Asset Requirement will be met after taking into account such rate or rates and/or purchase price or prices.
Sample 1

Related to Disbursements from Acquisition Account

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Withdrawals from Accounts Amounts credited to the Certificate Account and the Trust Account on any Distribution Date shall be withdrawn by Xxxxxx Xxx for application towards the distributions required hereby. In the event that amounts shall remain in the Certificate Account in any month following distribution of the Lower Tier Distribution Amount for such month, such amounts may be withdrawn by Xxxxxx Mae as compensation for its administrative and guaranty obligations or as reimbursement to Xxxxxx Xxx for any advance by it pursuant to such guaranty obligations under Sections 2.04 and 3.07 hereof. Any amount so withdrawn shall no longer be a part of the Lower Tier REMIC.

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Special Account 1. For the purposes of this Schedule:

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

  • 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.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • Requirements to Establish Escrow Accounts 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:

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