Operating Fund. The Borrower shall have an operating cash balance for the Project equal to at least 15 days of annual budgeted Operation and Maintenance Costs as of the Closing Date and as of the last day of each fiscal year (such cash balance shall be exclusive of any amounts in the funds and accounts held by the Trustee or funds representing resident security deposits).
Operating Fund. Balance available 1 January 201_ Miscellaneous income (specify) Subtotal Less: Expenditure a/ Staff and other personnel costs Travel on official business Contractual services Operating expenses Acquisitions Fellowships, grants, other Total expenditure b/ Balance available 31 December 201_
Operating Fund. HRTAC will hold the Operating Fund as a separate Fund for the purposes of paying Operating Expenses. Neither the Operating Fund nor any amount therein is pledged to secure the Bonds or the Subordinate Obligations. HRTAC shall pay Operating Expenses from the Operating Fund as they become due and in accordance with the purposes and amounts provided in the Annual Budget. In determining the balance on deposit in the Operating Fund for any purpose of this Master Indenture, there shall be deducted the amount of any issued but unpaid checks drawn against the Operating Fund. Investment earnings on amounts in the Operating Fund, if any, shall be transferred to the General Fund and applied for purposes of Section 8.6 below.
Operating Fund. “Operating Fund” means a financial account specially designated to provide operating funds for the 800 MHz mixed mode radio systems.
Operating Fund. There shall be an operating fund, audited by a recognized accounting firm in Belize, into which shall be deposited all monies paid into it as maintenance fees and other assessments, income, interest and profits attributable to the operating fund, and other miscellaneous fees. The use of all such funds will be limited to the purposes for which they are established.
Operating Fund. The “Operating Fund” so designated and to be established by the Trustee pursuant to Section 6.07
Operating Fund. * A. An operating fund shall be established and maintained which shall be used to pay all administrative and incidental expenses incurred by the Agency, together with all costs of maintenance and operation arising from the operation of Joint Facilities. By resolution, the operating fund may be utilized prior to completion of joint sewerage facilities to allow the necessary administrative, financial and management information systems to be in place and functioning upon the operation of said facilities. Revenues for the operating fund shall be derived from Regional Charges periodically charged to each Member by the Agency, which Regional Charges the Members hereby agree to pay. The periodic Regional Charge for each Member will be determined by the Agency and shall be based upon the relative volume and quality of wastewater generated by each Member. Volume will be determined based upon continuous measuring to measure total volume generated during the period. Quality will be determined by periodic monitoring and considered in determining Member Charges if deemed appropriate by the Commission. At the option of the Commission, contributions from Members may be based on dwelling units.
Operating Fund. There is hereby established a special fund to be held by the City and known as the “Telecom System Operating Expense Fund” (the “Operating Fund”). On or prior to the date of this Deposit Trust Agreement, the City shall deposit, or cause to be deposited, the Initial Account Balance into the Operating Fund. The Operating Fund shall be a demand deposit account held at Merchants Bank. The moneys in the Operating Fund shall be held by the City and used and applied by the City to pay Operating Expenses.
Operating Fund. The Operating Fund shall be maintained in an account established by the Corporation with the Trustee or another depository financial institution. Except as may be set forth in any Supplemental Indenture, the Corporation shall be entitled to withdraw in accordance with Section 5.04(b) hereof, moneys from the Revenue Fund to pay Maintenance and Operating Expenses. The amount deposited in the Operating Fund by transfer from the Revenue Fund and the schedule of deposits shall be determined by the Corporation, but Maintenance and Operating Expenses expended in any one Fiscal Year shall not exceed the amount shown in the most recent Cash Flow Statement as Maintenance and Operating Expenses for such Fiscal Year with respect to the Notes. The requisition, in the form of a Corporation Order, shall include a certification that the amount requisitioned, when combined with the amount requisitioned previously in the Fiscal Year and any other Maintenance and Operating Expenses paid, does not exceed the amount shown in the most recent Cash Flow Statement as Maintenance and Operating Expenses for such Fiscal Year with respect to the Notes. The Trustee may conclusively rely upon such Corporation Order. Upon the receipt of such requisition, the Trustee shall withdraw the amount requisitioned from the Revenue Fund and transfer the same into the Operating Fund. In the event there is not sufficient money on hand in the Revenue Fund, after transfers authorized by Section 5.12 hereof, to transfer the full amount requisitioned, the Trustee shall notify the Corporation and the Corporation shall then determine the amount to be transferred. The Operating Fund shall be used to pay Maintenance and Operating Expenses of the Corporation in connection with its participation in the Student Loan Program, but shall not be a part of the Trust Estate.
Operating Fund. PLANT OPERATOR shall, to the extent possible, pay operating expenses out of available operating revenues. PLANT OPERATOR may keep on hand an operating fund in an amount equal to two (2) month's anticipated operating costs as set forth in an Approved Annual Budget By Month. When required in the reasonable judgement of PLANT OPERATOR, PLANT OWNERS will advance, for an operating fund, their respective shares of an amount not to exceed two (2) month's anticipated operating costs as set forth in an Approved Annual Budget By Month. After the establishment of the operating fund, PLANT OWNERS shall remit their share of actual costs and expenses in accordance with each Month's billing, thus maintaining the operating fund intact. Should it be determined by the PLANT OPERATOR that the Plant Account contains excess funds, a distribution will be made to PLANT OWNERS proportionate to their PLANT ownership percentage.
