Management and Application of Funds Sample Clauses

Management and Application of Funds. The Guarantor shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that all amounts received by the Guarantor and falling within any of the following categories shall from time to time either (i) be credited to the GIC Account (and/or, as applicable, the Standby GIC Account), or (ii) be applied directly in accordance with the applicable Priorities of Payments: (a) all Revenue Receipts and all Principal Receipts; (b) all Cash Capital Contributions; (c) amounts received by the Guarantor pursuant to the Interest Rate Swap Agreement; (d) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (e) any other amount whatsoever received by or on behalf of the Guarantor after the Programme Date (including, without limitation, any proceeds advanced to the Guarantor under the Intercompany Loan Agreement where such proceeds have not been applied to acquire Portfolio Assets, to refinance an existing Advance under the Intercompany Loan Agreement or invest in Substitute Assets); (f) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor in respect thereof or arising from the proceeds of any Substitute Assets; and (g) such other payments received by the Guarantor as are, or ought in accordance with this Agreement to be, comprised in the Collateral.
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Management and Application of Funds. The Guarantor will take or cause to be taken such action as may from time to time be necessary on its part to ensure that all amounts received by the Guarantor and falling within any of the following categories shall from time to time either (i) be credited to the GDA Account (and/or as applicable, the Standby GDA Account), or (ii) be applied directly in accordance with the applicable Priorities of Payments: (a) all Revenue Receipts and all Principal Receipts; (b) amounts received by the Guarantor pursuant to the Interest Rate Swap Agreement; (c) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (d) any other amount whatsoever received by or on behalf of the Guarantor after the Program Date (including, without limitation, the proceeds of any Advances made to the Guarantor where such funds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale Agreement, to make Additional Loan Advances or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (e) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor in respect thereof or arising from the proceeds of any Substitute Assets; and (f) such other payments received by the Guarantor as are, or ought in accordance with this Agreement to be, comprised in the Charged Property, including the proceeds from the sales of Loans and their Related Security by the Guarantor.
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Management and Application of Funds. The Seventh Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Seventh Issuer Accounts shall from time to time be credited with all amounts received by the Seventh Issuer and falling within any of the following categories: (a) amounts received by the Seventh Issuer from or on behalf of Funding 1 pursuant to the provisions of the Seventh Issuer Intercompany Loan Agreement; (b) interest received on the Seventh Issuer Accounts; (c) amounts received by the Seventh Issuer from the Swap Providers under the Seventh Issuer Swap Agreements; (d) the proceeds arising from the disposal of any Authorised Investments and any and all income or other distributions received by the Seventh Issuer in respect thereof or arising from the proceeds of any Authorised Investments; (e) amounts received by the Seventh Issuer from the Security Trustee in its capacity as security trustee under the Funding 1 Deed of Charge or a Receiver following the service of an Intercompany Loan Acceleration Notice; and (f) such other payments received by the Seventh Issuer as are, or ought in accordance with this Deed to be, comprised in the Seventh Issuer Charged Property.
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Management and Application of Funds. The Third Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Third Issuer Accounts shall from time to time be credited with all amounts received by the Third Issuer and falling within any of the following categories: (a) amounts received by the Third Issuer from or on behalf of Funding 1 pursuant to the provisions of the Third Issuer Intercompany Loan Agreement; (b) interest received on the Third Issuer Accounts; (c) amounts received by the Third Issuer from the Dollar Currency Swap Providers under the Dollar Currency Swap Agreements; (d) amounts received by the Third Issuer from the Euro Currency Swap Providers under the Euro Currency Swap Agreements; (e) amounts received by the Third Issuer from the Interest Rate Swap Providers under the Interest Rate Swap Agreement; (f) the proceeds arising from the disposal of any Authorised Investments and any and all income or other distributions received by the Third Issuer in respect thereof or arising from the proceeds of any Authorised Investments; (g) amounts received by the Third Issuer from the Security Trustee in its capacity as security trustee under the Funding 1 Deed of Charge or a Receiver following the service of a Third Issuer Intercompany Loan Enforcement Notice; and (h) such other payments received by the Third Issuer as are, or ought in accordance with this Deed to be, comprised in the Third Issuer Charged Property.
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Management and Application of Funds. The Ninth Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Ninth Issuer Transaction Accounts shall from time to time be credited with all amounts received by the Ninth Issuer and falling within any of the following categories: (a) amounts received by the Ninth Issuer from or on behalf of Funding pursuant to the provisions of the Ninth Issuer Intercompany Loan Agreement; (b) interest received on the Ninth Issuer Transaction Accounts; (c) amounts received by the Ninth Issuer from the Dollar Currency Swap Providers under the Dollar Currency Swap Agreements (other than any collateral provided to the Ninth Issuer by the Dollar Currency Swap Providers, which shall be credited to the relevant Issuer Collateral Account (except where such collateral may be applied in accordance with this Deed)); (d) amounts received by the Ninth Issuer from the Euro Currency Swap Provider under the Euro Currency Swap Agreement (other than any collateral provided to the Ninth Issuer by the Euro Currency Swap Provider, which shall be credited to the relevant Issuer Collateral Account (except where such collateral may be applied in accordance with this Deed)); (e) income received by the Ninth Issuer in respect of the proceeds of any Authorised Investments (other than any proceeds from the Authorised Investments in which collateral provided to the Ninth Issuer from any Ninth Issuer Swap Provider is invested in, which shall be credited to the relevant Issuer Collateral Account (except where such Collateral may be applied in accordance with this Deed)); and (f) amounts received by the Ninth Issuer from the Security Trustee (as security trustee under the Funding Deed of Charge) or a Receiver following the service of a Ninth Issuer Intercompany Loan Enforcement Notice.
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Management and Application of Funds. The Fourth Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Fourth Issuer Accounts shall from time to time be credited with all amounts received by the Fourth Issuer and falling within any of the following categories: (a) amounts received by the Fourth Issuer from or on behalf of Funding 1 pursuant to the provisions of the Fourth Issuer Intercompany Loan Agreement; (b) interest received on the Fourth Issuer Accounts; (c) amounts received by the Fourth Issuer from the Swap Providers under the Swap Agreements; (d) the proceeds arising from the disposal of any Authorised Investments and any and all income or other distributions received by the Fourth Issuer in respect thereof or arising from the proceeds of any Authorised Investments; (e) amounts received by the Fourth Issuer from the Security Trustee in its capacity as security trustee under the Funding 1 Deed of Charge or a Receiver following the service of an Intercompany Loan Acceleration Notice; and (f) such other payments received by the Fourth Issuer as are, or ought in accordance with this Deed to be, comprised in the Fourth Issuer Charged Property.
Sample 1
Management and Application of Funds. The Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Issuer Accounts shall from time to time be credited with all amounts received by the Issuer and falling within any of the following categories: (a) all Revenue Receipts and all Redemption Receipts; (b) amounts received by the Issuer pursuant to the Swap Agreement into the Issuer Accounts; (c) the proceeds arising from the disposal of any Swap Collateral and any and all income or other distributions received by the Issuer in respect thereof or arising from the proceeds of any Swap Collateral; (d) any amounts received from the Seller or the Third Party Purchaser in relation to the exercise of the Call Option in accordance with the terms of the Mortgage Sale Agreement; and (e) such other payments received by the Issuer as are, or ought in accordance with this Deed to be, comprised in the Charged Assets.
Sample 1
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Management and Application of Funds. The Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the relevant Issuer Accounts (as applicable, excluding the Collateral Accounts) shall from time to time be credited with all amounts received by the Issuer, including, without limitation, amounts falling within any of the following categories (but excluding cash collateral and JGBs governed by Clause 6.6): (a) dividends or other amounts received by the Issuer from the HoldCos; (b) amounts received by the Issuer from Toshiba or other stockholders of US HoldCo or UK HoldCo under the Investment Agreements, the Put Option Agreements or the Shareholders Agreements, as applicable; (c) interest received on the Issuer Accounts; (d) the proceeds arising from the disposal of any Eligible Investments and any and all income or other distributions received by the Issuer in respect thereof or arising from the proceeds of any Eligible Investments; (e) amounts drawn under the Letters of Credit; and (f) such other payments received by the Issuer as are, or ought in accordance with this Deed to be, comprised in the Charged Property and which are not otherwise paid into the Issuer Accounts.
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Related to Management and Application of Funds

  • Application of Funds After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations, subject to the provisions of Sections 2.13 and 2.14, shall be applied by the Administrative Agent in the following order: First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third held by them; Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings and (b) Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; and Last, the balance, if any, after all of the Obligations have been paid in full, to the Borrower or as otherwise required by Law. Subject to Section 2.03(c) and Section 2.13, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.

  • Collection of Funds Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • Appropriation of Funds Lessee intends to continue each Schedule to which it is a party for the Schedule Term and to pay the Rent and other amounts due hereunder. Lessee reasonably believes that legally available funds in an amount sufficient to pay all Rent during the Schedule Term can be obtained. Lessee further intends to act in good faith to do those things reasonably and lawfully within its power to obtain and maintain funds from which the Rent may be paid. Notwithstanding the foregoing, in the event sufficient funds are not appropriated to continue the Schedule Term for any fiscal period (as set forth on the Schedule) of Lessee beyond the fiscal period first in effect at the commencement of the Schedule Term, Lessee may terminate the Schedule with regard to those of the Assets on the Schedule so affected. Lessee shall endeavor to provide Lessor with written notice sixty (60) days prior to the end of its current Fiscal Period confirming which Assets on the Schedule will be so affected by the termination. All obligations of Lessee to make Rent Payments due with respect to those Assets after the end of the Fiscal Period for which such termination applies will cease, all interests of Lessee in those Assets will terminate, Lessee shall surrender those Assets in accordance with Section 15 (“Option to Extend; Surrender of Assets”) of this MOLA, and the applicable Schedule shall be deemed amended. Lessee represents and warrants it has adequate funds to meet its obligations during the first fiscal period of the Schedule Term. Lessor and Lessee intend that the obligation of Lessee to make Rent Payments under this MOLA shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general revenues, funds or monies of Lessee or the State of Texas, as applicable, beyond the fiscal period for which sufficient funds have been appropriated to make Rent Payments hereunder.

  • Authorization and Application of Overtime An employee who is required to work overtime shall be entitled to overtime compensation when the overtime worked is authorized in advance.

  • Application of Funds in the Collection Account The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes: (i) to reimburse itself or any Servicer for Advances made by it or by such Servicer pursuant to Section 5.04 or the applicable Servicing Agreement; provided, however, that the Master Servicer’s right to reimburse itself pursuant to this subclause is limited to amounts received on or in respect of particular Mortgage Loans (including, for this purpose, Liquidation Proceeds and amounts representing Insurance Proceeds with respect to the property subject to the related Mortgage) which represent late recoveries (net of the applicable Servicing Fee and the Master Servicing Fee) of payments of principal or interest respecting which any such Advance was made; provided, further, that following the final liquidation of a Mortgage Loan, the Master Servicer may reimburse itself for previously unreimbursed Advances in excess of Liquidation Proceeds or Insurance Proceeds with respect to such Mortgage Loans from any funds in the Collection Account, it being understood, in the case of any such reimbursement, that the Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (ii) to reimburse itself or any Servicer for any Servicing Advances made by it or by such Servicer that it or such Servicer determines in good faith will not be recoverable from amounts representing late recoveries of payments of principal or interest respecting the particular Mortgage Loan as to which such Servicing Advance was made or from Liquidation Proceeds or Insurance Proceeds with respect to such Mortgage Loan, it being understood, in the case of any such reimbursement, that such Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (iii) to reimburse itself or any Servicer from Liquidation Proceeds for Liquidation Expenses and for amounts expended by it pursuant to Sections 9.20 and 9.22(a) or the applicable Servicing Agreement in good faith in connection with the restoration of damaged property and, to the extent that Liquidation Proceeds after such reimbursement exceed the unpaid principal balance of the related Mortgage Loan, together with accrued and unpaid interest thereon at the applicable Mortgage Rate less the applicable Servicing Fee and the Master Servicing Fee for such Mortgage Loan to the Due Date next succeeding the date of its receipt of such Liquidation Proceeds, to pay to itself out of such excess the amount of any unpaid assumption fees, late payment charges or other Mortgagor charges on the related Mortgage Loan and to retain any excess remaining thereafter as additional servicing compensation, it being understood, in the case of any such reimbursement or payment, that such Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (iv) to reimburse itself or any Servicer for expenses incurred by and recoverable by or reimbursable to it or such Servicer pursuant to Section 9.04, 9.05, 9.06, 9.16 or 9.22(a) or pursuant to the applicable Servicing Agreement, and to reimburse itself for any expenses reimbursable to it pursuant to Section 10.01(c); (v) to pay to the applicable Person, with respect to each Mortgage Loan or REO Property acquired in respect thereof that has been repurchased by such Person pursuant to this Agreement, all amounts received thereon and not distributed on the date on which the related repurchase was effected; (vi) subject to Section 5.05, to pay to itself income earned on the investment of funds deposited in the Collection Account; (vii) to make payments to the Trustee for deposit into the Certificate Account in the amounts and in the manner provided for in Section 4.01(c); (viii) to make distributions of any Retained Interest to the Retained Interest Holder on each Distribution Date (other than any Retained Interest not deposited into the Collection Account in accordance with Section 4.01(d)(iii)); (ix) to make payment to itself, the Trustee and others pursuant to any provision of this Agreement; (x) to withdraw funds deposited in error in the Collection Account; (xi) to clear and terminate the Collection Account pursuant to Section 7.02; (xii) to reimburse a successor Master Servicer (solely in its capacity as successor Master Servicer), for any fee or advance occasioned by a termination of the Master Servicer, and the assumption of such duties by the Trustee or a successor Master Servicer appointed by the Trustee pursuant to Section 6.14, in each case to the extent not reimbursed by the terminated Master Servicer, it being understood, in the case of any such reimbursement or payment, that the right of the Master Servicer or the Trustee thereto shall be prior to the rights of the Certificateholders; and (xiii) to reimburse any Servicer for such amounts as are due thereto under the applicable Servicing Agreement and have not been retained by or paid to such Servicer to the extent provided in such Servicing Agreement. If provided in the related Servicing Agreement, each Servicer shall be entitled to retain as additional servicing compensation any Prepayment Interest Excess (to the extent not offset by Prepayment Interest Shortfalls). In the event that the Master Servicer fails on any Deposit Date to remit to the Trustee any amounts required to be so remitted to the Trustee pursuant to subclause (vii) by 12 noon (New York time) on such date, the Master Servicer shall pay the Trustee, for the account of the Trustee, interest calculated at the “prime rate” (as published in the “Money Rates” section of The Wall Street Journal) on such amounts not timely remitted for the period from and including that Deposit Date to but not including the related Distribution Date. In connection with withdrawals pursuant to subclauses (i), (iii), (iv) and (vi) above, the Master Servicer’s or Servicer’s entitlement thereto is limited to collections or other recoveries on the related Mortgage Loan, except as provided herein. The Master Servicer shall therefore keep and maintain a separate accounting for each Mortgage Loan it master services for the purpose of justifying any withdrawal from the Collection Account it maintains pursuant to subclauses (i), (iii), (iv) and (vi) above.

  • NON APPROPRIATION OF FUNDS This Contract is contingent upon the appropriation of sufficient funds by appropriate MPS officials. If funds are not appropriated, Contractor agrees to take back any commodities furnished under the Contract, terminate any services supplied to MPS under the Contract, and relieve MPS of any further obligations under the Contract.

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

  • Administration of Medication CONTRACTOR shall comply with the requirements of California Education Code section 49423 when CONTRACTOR serves a student that is required to take prescription and/or over-the-counter medication during the school day. CONTRACTOR may designate personnel to assist the student with the administration of such medication after the student’s parent(s) provides to CONTRACTOR: (a) a written statement from a physician detailing the type, administration method, amount, and time schedules by which such medication shall be taken; and (b) a written statement from the student’s parent(s) granting CONTRACTOR permission to administer medication(s) as specified in the physician’s statement. CONTRACTOR shall maintain, and provide to LEA upon request, copies of such written statements. CONTRACTOR shall maintain a written log for each student to whom medication is administered. Such written log shall specify the student’s name; the type of medication; the date, time, and amount of each administration; and the name of CONTRACTOR’s employee who administered the medication. CONTRACTOR maintains full responsibility for assuring appropriate staff training in the administration of such medication consistent with physician’s written orders. Any change in medication type, administration method, amount or schedule must be authorized by both a licensed physician and parent.

  • Retention of Funds Consultant hereby authorizes City to deduct from any amount payable to Consultant (whether or not arising out of this Agreement) (i) any amounts the payment of which may be in dispute hereunder or which are necessary to compensate City for any losses, costs, liabilities, or damages suffered by City, and (ii) all amounts for which City may be liable to third parties, by reason of Consultant’s acts or omissions in performing or failing to perform Consultant’s obligation under this Agreement. In the event that any claim is made by a third party, the amount or validity of which is disputed by Consultant, or any indebtedness shall exist which shall appear to be the basis for a claim of lien, City may withhold from any payment due, without liability for interest because of such withholding, an amount sufficient to cover such claim. The failure of City to exercise such right to deduct or to withhold shall not, however, affect the obligations of the Consultant to insure, indemnify, and protect City as elsewhere provided herein.

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