Common use of Disposition of Local School Bond Proceeds Clause in Contracts

Disposition of Local School Bond Proceeds. The Investment Manager shall allocate the proceeds of the Local School Bonds for the Localities on the Closing Date to the Localities and the Proceeds Accounts, dollar for dollar, in accordance with the respective purchase prices of their Local School Bonds and the allocations to the various Proceeds Accounts set forth in Exhibit A to this Proceeds Agreement. The proceeds of the VPSA Bonds allocated to each Locality shall be credited to the Principal Subaccount of the Locality in the amounts set forth in Exhibit A. There is no accrued interest on the Local School Bonds.

Disposition of Local School Bond Proceeds. The Investment Manager shall allocate the proceeds of the Local School Bonds for the Localities on the Closing Date to the Localities and the Proceeds Accounts, dollar for dollar, in accordance with the respective purchase prices of their Local School Bonds and the allocations to the various Proceeds Accounts set forth in Exhibit A to this Proceeds Agreement. The proceeds of the VPSA Bonds allocated to each Locality shall be credited to the Principal Subaccount of the Locality in the amounts set forth in Exhibit A. There is no accrued interest on the Local School Bonds.

Disposition of Local School Bond Proceeds. ‌ The Investment Manager shall allocate the proceeds of the Local School Bonds for the Localities on the Closing Date to the Localities and the Proceeds Accounts, dollar for dollar, in accordance with the respective purchase prices of their Local School Bonds and the allocations to the various Proceeds Accounts set forth in Exhibit A to this Proceeds Agreement. The proceeds of the VPSA Bonds allocated to each Locality shall be credited to the Principal Subaccount of the Locality in the amounts set forth in Exhibit A. There is no accrued interest on the Local School Bonds.