Operation and Maintenance Account Sample Clauses

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.
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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. (b) Moneys in the Operation and Maintenance Account shall be used by the Corporation to pay (i) the Corporation’s Operating Expenses and the projected costs of extraordinary maintenance and repairs (other than and in addition to routine maintenance and repairs included as Operating Expenses in the Corporation’s Annual Budgets described in Section 8.14 hereof); provided that such moneys in the Operation and Maintenance Account shall, no later than two Business Days following a written demand from the Bond Trustee, be transferred to the Bond Trustee for deposit to the Arena Revenue Fund to be used for the funding requirements set out in the Bond Indenture. Subject to any such demand from the Bond Trustee described in the preceding sentence, moneys in the Operation and Maintenance Account shall, to the extent not expended as of each May 15th and November 15th, be paid to the Bond Trustee for deposit in the Arena Revenue Fund except for the retention of an Operation and Maintenance Account reserve equal to the Minimum Operating Cash Balance applicable to each such date. The Corporation, by Written Instruction to the Bond Trustee, with the Bond Insurer’s written consent, may direct the Bond Trustee to transfer any moneys held within the Arena Revenue Fund, the Arena Revenue Account of the Excess Net Cash Flow Fu...
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1
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. (b) Upon receipt by the Escrow Agent of a certificate of a Responsible Officer of the Managing General Partner (i) stating that a spare part listed on Schedule 6 to the Partnership Agreement must be purchased for 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, (ii) specifying the amount of the purchase price therefor, (iii) stating that such spare part is not maintained in the inventory for the Project 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 (ii) to the Managing General Partner or to such Persons as may be specified by the Managing General Partner.
Sample 1
Operation and Maintenance Account. An account designated for the specific purpose of defraying operation and maintenance costs (excluding replacement) of the treatment works.
Sample 1
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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.
Sample 1
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.
Sample 1

Related to Operation and Maintenance Account

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire 17.1.1 During the Operation Period, the Concessionaire shall operate and maintain the Bus Terminal in accordance with this Agreement either by itself, or through the O&M Contractor and if required, modify, repair or otherwise make improvements to the Bus Terminal to comply with the provisions of this Agreement, Applicable Laws and Applicable Permits, and conform to Specifications and Standards and Good Industry Practice. The obligations of the Concessionaire hereunder shall include: (a) permitting safe, smooth and uninterrupted flow of traffic on the Bus Terminal during normal operating conditions. Buses of other state road transport corporations shall be parked inside the Bus Terminal for which no charges shall be payable to the Concessionaire and if any charges are applicable for such parking then it shall be realized by Authority only; (b) minimising incidents affecting the safety and use of the Bus Terminal by providing a rapid and effective response and maintaining liaison with emergency services of the State; (c) carrying out periodic preventive maintenance of the Bus Terminal; (d) undertaking routine maintenance including prompt repairs of ticket counters, Workshops, Authority's Office and other infrastructure as mentioned in the Operation and Maintenance Schedule; (e) undertaking major maintenance such as per the Maintenance Schedule of the major infrastructure in the Bus Terminal; (f) preventing, with the assistance of the concerned law enforcement agencies, any encroachments on the Bus Terminal; (g) protection of the environment and provision of equipment and materials therefor; (h) operation and maintenance of all communication, control and administrative systems necessary for the efficient operation of the Bus Terminal; (i) maintaining a public relations unit to interface with and attend to suggestions from the Users, passengers, government agencies, media and other agencies; (j) complying with Safety Requirements in accordance with Article 18; (k) operation and maintenance of all Project Assets diligently and efficiently and in accordance with Good Industry Practice; (l) maintaining punctuality and reliability in operating the Bus Terminal; and (m) maintaining a high standard of cleanliness and hygiene in the Bus Terminal. 17.1.2 The Concessionaire shall remove promptly from the Bus Terminal all surplus construction machinery and materials, waste materials (including hazardous materials and waste water), rubbish and other debris (including, without limitation, accident debris) and keep the Bus Terminal in a clean, tidy and orderly condition,

  • Maintenance of Dominion Account Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Administrative Agent. Borrowers shall obtain an agreement (in form and substance reasonably satisfactory to Administrative Agent) from each lockbox servicer and Dominion Account bank, establishing Administrative Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Administrative Agent during any Sweep Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Administrative Agent may, during any Sweep Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Administrative Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

  • Account Maintenance Trade Allocations Trade Reporting; (Futures) Daily Trade Checkout Daily Statement Reconciliation

  • Records Maintenance; Access Contractor shall maintain all financial records relating to this Contract in accordance with generally accepted accounting principles. In addition, Contractor shall maintain any other records, books, documents, papers, plans, records of shipments and payments and writings of Contractor, whether in paper, electronic or other form, that are pertinent to this Contract (“Records”) in such a manner as to clearly document Contractor's performance. Contractor acknowledges and agrees that Agency and the Oregon Secretary of State's Office and the federal government and their duly authorized representatives will have access to such financial records and other Records that are pertinent to this Contract, whether in paper, electronic or other form, to perform examinations and audits and make excerpts and transcripts. Contractor shall retain and keep accessible all such financial records and other Records for a minimum of 6 years, or such longer period as may be required by applicable law, following final payment and termination of this Contract, or until the conclusion of any audit, controversy or litigation arising out of or related to this Contract, whichever date is later.

  • Installation and Maintenance Except for the bi‐directional and production metering equipment owned by the City, all equipment on Customer’s side of the delivery point, including the required disconnect device, shall be provided and maintained in satisfactory operating condition by Customer and shall remain the property and responsibility of the Customer. The City will bear no responsibility for the installation or maintenance of Customer’s equipment or for any damage to property as a result of any failure or malfunction thereof. The City shall not be liable, directly or indirectly for permitting or continuing to allow the interconnection of the Facility or for the acts or omissions of Customer or the failure or malfunction of any equipment of Customer that causes loss or injury, including death, to any party.

  • Operation and Maintenance Manuals Receipts for transmittal of Operation and Maintenance Manuals, Brochures and Data to the Design Professional (or Commissioning Agent) as required by Section 6.1.1.5.

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • Construction and Maintenance There are on-going maintenance, renovation and construction projects taking place in and around the residences. The work typically takes place during regular business hours, but may begin earlier or extend into evenings or weekends. On-going construction or renovation projects will continue through midterm and final exam periods. The University will take measures to ensure that prudent construction practices are followed, but there may be noise, dust and temporary interruption of some services. Residents may be required to temporarily or permanently relocate to facilitate construction or renovation to their residence area. There will be no compensation or reduction to your residence fees due to disruption and/or relocation.

  • Operations and Maintenance Seller shall not during the months of June through September inclusive schedule any non-emergency maintenance that reduces the energy generating capability of the Facility by more than ten percent (10%), unless (i) such outage is required to avoid damage to the Facility, (ii) such maintenance is necessary to maintain equipment warranties and cannot be scheduled outside the months of June through September, (iii) such outage is required in accordance with prudent electrical practices, or (iv) the Parties agree otherwise in writing.

  • Establishment and Maintenance of Records GRANTEE shall maintain records, including but not limited to, books, financial records, supporting documents, statistical records, personnel, property, and all other pertinent records sufficient to reflect properly: a. All direct and indirect costs of whatever nature claimed to have been incurred and anticipated to be incurred in the performance of this AGREEMENT; and b. All other matters covered by this AGREEMENT. Such records shall be maintained in accordance with requirements now or hereafter prescribed by the CITY.

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