Funding of Reserve Accounts Sample Clauses

Funding of Reserve Accounts. The reserve accounts required hereunder shall not be funded with TCAP Funds.
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Funding of Reserve Accounts. A. Unless Treasury issues guidance provides otherwise, the reserve accounts required hereunder shall not be funded with TCEP Funds; provided, however, that to the extent that amounts have been disbursed to the Owner or the Developer in payment of fees or for reimbursements of previously paid expenditures, such amounts may be used to fund reserve accounts as permitted by CHFA and unless otherwise prohibited by Program Requirements. All Accounts shall be established with and held by CHFA or a third party (such as a nationally chartered bank) approved or required by CHFA. Unless otherwise specified herein or approved by CHFA in writing. At any time during the term of the Subaward, Owner shall, upon request, provide CHFA with evidence of the existence of and amounts deposited in any or all such Accounts. Owner shall not withdraw any funds from an Account without the prior written approval of CHFA and only for the purposes for which such Account was specifically established. At CHFA’s request, Owner shall furnish CHFA with an accounting of any disbursements made from an Account.
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Funding of Reserve Accounts. The reserve accounts required hereunder except for the Replacement Reserve account outlined in Section 8.1, shall not be funded with Exchange Program Funds; provided, however, that to the extent that amounts have been disbursed to the Development Owner or the Developer in payment of fees or for reimbursements of previously paid expenditures, such amounts may be used to fund reserve accounts as permitted by the Department and unless otherwise prohibited by Program Requirements. In any event, the reserve accounts required hereunder shall not be considered an eligible cost for basis calculation in determining the eligible amount of Exchange Program Funds
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Funding of Reserve Accounts. To the extent applicable, such Purchaser shall have received satisfactory evidence that (x) the Series 2023[●] Debt Service Reserve Account is fully funded in an amount at least equal to the Series 2023[●] Debt Service Reserve Requirement, and
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Related to Funding of Reserve Accounts

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Reserve Funds Section 7.1.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • 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.

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • 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.

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

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