Funding of Reserve Accounts. The reserve accounts required hereunder shall not be funded with TCAP Funds.
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
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.
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
