Make-up Reclamation Trust Funds Sample Clauses

Make-up Reclamation Trust Funds. In the event of certain defaults by another Party under the Mine Reclamation Agreement, Party A is required by the Mine Reclamation Agreement to establish a separate segregated portion of the Trust Account (which will be unique for each defaulting Party) under the Mine Reclamation Agreement, to be denominated the “Make-up Reclamation Trust Fund”, to provide funding for Party A’s Reclamation Share of the shortfall created by such default in the defaulting Party’s trust account. Except as herein otherwise provided, the funds in the Make-up Reclamation Trust Fund will be treated identically with funds in the Principal Trust Fund and will be available for payment of reclamation costs by the Trustee to the extent insufficient funds are available in Party A’s Principal Trust Fund; provided, however, if the defaulting Party cures its default, and notice thereof is provided to the Trustee and Party A by the Reclamation Trust Funds Operating Agent, then the funds in Party A’s Make-up Reclamation Trust Fund will be returned by the Trustee to Party A upon written request to the Trustee from Party A.
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Make-up Reclamation Trust Funds. In the event of a Default Declaration, made‌ pursuant to Section 10.5, that a Party is in Default in regard to the funding of its Reclamation Trust, each of the non-defaulting Parties will fund a Make-up Reclamation Trust Fund within its Reclamation Trust in the manner provided for, and subject to the various requirements and limitations set out in, Sections 6.4, 9.2, 11 and 12.
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Make-up Reclamation Trust Funds. Make-up Reclamation Trust Funds are‌ segregated sub-accounts to be funded in a non-defaulting Party’s Reclamation Trust in a manner consistent with each Party’s Reclamation Trust Agreement. When a Default has resulted in a shortfall in the defaulting Party’s Reclamation Trust, the Reclamation Investment Committee will act promptly to develop and provide to the non-defaulting Parties appropriate Make-up Funding Curves for the Make-up Reclamation Trust Funds, as provided in Section 6.4. Within thirty (30) days of receipt of a Make-up Funding Curve from the Reclamation Investment Committee, each non-defaulting Party, if required under Sections 6.4 and 11.1, will fund its Make-up Reclamation Trust Fund to its share of the Make-up Funding Curve target amount for the calendar year in which the Default Declaration was issued. If a defaulting Party cures its Default in accordance with Section 10.8, monies in a non-defaulting Party’s Make-up Reclamation Trust Fund may be returned to the non-defaulting Party under Section 4.9 and the terms of that Party’s Reclamation Trust Agreement.
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Related to Make-up Reclamation Trust Funds

  • TRUST FUNDS The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • Training Trust Fund Section 1. On work covered by this Agreement, the Employer agrees to pay into the Indiana Laborers Training Trust Fund the amount in cents per hour as shown in Article

  • Pension Trust Fund Contingent upon the Fund being jointly and equally trusteed, the Employer shall contribute to the International Union of Operating Engineers Local 870 Pension Trust Fund in accordance with the attached Appendix A and forming part of this Agreement.

  • The Trust Fund Xxxxxx Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Trust Fund established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.

  • 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.

  • 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.

  • 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).

  • Escrow Requirement; Escrow Items Borrower must pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum of money to provide for payment of amounts due for all Escrow Items (the “Funds”). The amount of the Funds required to be paid each month may change during the term of the Loan. Borrower must promptly furnish to Lender all notices or invoices of amounts to be paid under this Section 3.

  • Trust Fund The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans.

  • PIPELINE SERVICE FUND The Employer shall deduct from each employee covered by this Agreement twenty-five cents ($0.25) for each hour of work earned and remit it monthly to the Pipeline Service Fund.

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