Operation and Maintenance Account. Not later than the 15th of each month sufficient amounts from the General Fund Account shall be transferred to the Operation and Maintenance Account to enable Borrower to pay from the Operation and Maintenance Account the actual, reasonable, and necessary current expenses, for the current montli and the ensuing month, of operating and maintaining the housing not otherwise provided for. Current expenses may include, in addition to expenses occurring or becoming due monthly, monthly accumulations o I'proportionate amounts for the payment of items which may become due either annually or at irregular intervals, such as taxes, insurance, and normal repair and replacement of furnishings and equipment reasonably necessary for operation of the housing. Current expenses may also include initial purchase and installation of such furnishings and equipment with any funds deposited in and transferred from the General Fund Account which are not proceeds of the loan or income or revenue from the housing.
Operation and Maintenance Account. There is hereby established the Operation and Maintenance Account, which shall be maintained so long as any Lease Rental Payments remain outstanding. All costs of operating, maintaining and insuring the Project shall be paid from the Operation and Maintenance Account. All funds in the Operation and Maintenance Account shall be kept separate and apart from all other funds of the Lessee and shall be deposited, secured and invested in the manner provided in subsection F below.
Operation and Maintenance Account. An account designated for the specific purpose of defraying operation and maintenance costs (excluding replacement) of the treatment works.
Operation and Maintenance Account. The General Partner, on behalf of the Partnership, shall establish an operating and maintenance account and shall deposit thereinto, or provide a letter of credit, in an amount required by the FmHA, to be used for initial operating capital as permitted or required by applicable FmHA regulations. Said amount shall be reimbursed, without interest, out of Project funds as shall be authorized in accordance with applicable FmHA regulations, and if not so reimbursed within ten years of the deposit, any amount remaining unreimbursed shall be forgiven and shall constitute an ordinary and necessary business expense of the General Partner as part consideration for the payment of the Development Fee.
Operation and Maintenance Account. (a) Upon receipt by the Escrow Agent of a certificate of a Responsible Officer of the Managing General Partner (i) stating that a major inspection or repair with respect to a steam turbine, a gas turbine, a heat recovery steam generator, a boiler feed pump, a step up transformer, switchgear or a catalyst for the Project has occurred, (ii) describing in reasonable detail the work that was or will be required to be done or the materials that were or will be required to be purchased as a result of such major inspection or repair, (iii) stating the specific amount requested to be paid over to the Partnership and that such amount is equal to the excess of (x) the cost of such work that was or will be required to be done or the materials that were or will be required to be purchased as a result of such major inspection or repair over (y) the cost of spares taken from inventory maintained by the Partnership pursuant to Section 7.2(k) of the Partnership Agreement to prepare for such inspection or to make such repair and (iv) stating that no Special Event has occurred and is continuing, the Escrow Agent shall transfer, from the cash available in the Operation and Maintenance Account, the amount specified in clause (iii) to the Managing General Partner or to such Persons as may be specified by the Managing General Partner.
Operation and Maintenance Account. The General Partner, on behalf of the Partnership, shall establish an operating and maintenance account and shall deposit thereinto, or provide a letter of credit, in an amount required by the FmHA for Autumn Ridge, Pontiac, and Xxxxxxx, to be used for initial operating capital as permitted or required by applicable FmHA regulations. Said amount shall be reimbursed, without interest, out of the Project funds of either Autumn Ridge, Pontiac or Xxxxxxx respectively as shall be authorized in accordance with applicable FmHA regulations, and if not so reimbursed within five years of the deposit, any amount remaining unreimbursed shall be forgiven and shall constitute an ordinary and necessary business expense of the General Partner as part consideration for the payment of the Development Fee.
Operation and Maintenance Account. The General Partner, on behalf of the Partnership, shall establish an operating and maintenance account and shall deposit thereinto, or provide a letter of credit, in an amount required by the Mortgage lender, to be used for initial operating capital as permitted or required by the Mortgage lender. Said amount shall be reimbursed, without interest, out of Project funds as shall be authorized in accordance with the Mortgage lender, and if not so reimbursed within five years of the deposit, any amount remaining unreimbursed shall be forgiven and shall constitute an ordinary and necessary business expense of the General Partner as part consideration for the payment of the Development Fee.
Operation and Maintenance Account. Amounts in the Operation and Maintenance Account in the Operation and Maintenance Fund shall be used by the Airports Authority solely to pay Operation and Maintenance Expenses. The amount deposited in the Operation and Maintenance Account shall equal one-fourth (1/4th) of the Operation and Maintenance Expenses for the Dulles Corridor Enterprise Fund set forth in the Airports Authority’s current Fiscal Year budget.
Operation and Maintenance Account. (a) The Corporation hereby establishes the Operation and Maintenance Account as a non-trusteed account held by the Corporation. The Operation and Maintenance Account shall constitute a Lockbox Account as set out in Section 6.10 hereof and into which the Corporation shall deposit all Category B Arena Revenues received by the Corporation from time to time, whether such revenues are received by the Corporation from any Manager or directly by the Corporation in connection with the Prior Project. If during any time any Bond is outstanding under the Bond Indenture the Corporation has retained a Manager to operate or manage the Prior Project on the Corporation’s behalf and any such Manager controls or holds moneys generated by the operation of the Prior Project in any account owned or controlled by the Manager, no such moneys shall constitute Category B Arena Revenues while such moneys are held by the Manager in its own account or accounts. Such moneys shall only constitute Category B Arena Revenues once deposited by the Manager or the Corporation in the Operation and Maintenance Account pursuant to the requirements of the then applicable Management Agreement.
