Ownership, Control and Investments of Reserve Fund Sample Clauses

Ownership, Control and Investments of Reserve Fund. All funds credited to the Reserve Fund shall be the exclusive property of, and solely controlled by, the VSBFA. The VSBFA may not withdraw funds from the Reserve Fund except as provided for in this Agreement. Interest or income earned on the funds credited to the Reserve Fund shall be deemed to be part of the Reserve Fund. The VSBFA is authorized to withdraw at any time from the Reserve Fund up to fifty (50%) percent of the total interest or income that has been credited to the Reserve Fund since the date of the first Enrolled Loan. Withdrawals authorized under this section need not be returned to the Reserve Fund. The VSBFA shall, upon reasonable request of the Lender, periodically provide to the Lender transaction reports indicating the balance in the Reserve Fund, payments and transfers into the Reserve Fund, withdrawals from the Reserve Fund, and interest or income earned on funds credited to the Reserve Fund. In addition, the foregoing transaction reports shall be available to the Lender for inspection at the offices of the VSBFA during normal business hours.
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Ownership, Control and Investments of Reserve Fund. The Reserve Fund, and all funds deposited into the Reserve Fund, shall be the exclusive property of, and solely controlled by, the MSF. The MSF may not withdraw funds from the Reserve Fund except as permitted under this Agreement. Provided however, subject to the foregoing and all other terms and conditions of this Agreement, the MSF pledges that the Lender shall have a first security interest in the funds in the Reserve Fund to pay Claims as required hereunder, and the MSF will not encumber or pledge the funds to any other party.
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Ownership, Control and Investments of Reserve Fund. Subject to any applicable terms in IBGC’s agreement with the Iowa Economic Development Authority for the administration of the program or to any applicable federal requirements, all funds credited to the Reserve Fund shall be the exclusive property of, and solely controlled by, IBGC. The IBGC may not withdraw funds from the Reserve Fund except as is provided for in this Agreement Interest or income earned on the funds credited to the Reserve Fund shall be deemed to be part of the Reserve Fund. IBGC is authorized to withdraw at any time from the Reserve Fund fifty (50%) percent of all interest or income that has been credited to the Reserve Fund, except that after the first such withdrawal IBGC may not withdraw more than fifty (50%) percent of all interest or income that has been credited to the Reserve Fund since the time of the last such withdrawal. These withdrawals need not be returned to the Reserve Fund. Interest withdrawals may be used for any purpose in connection with the Program.
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Ownership, Control and Investments of Reserve Fund. All funds credited to the Reserve Fund shall be the exclusive property of, and solely controlled by, the Center. The Center may not withdraw funds from the Reserve Fund except as is provided for in this Agreement. Interest or income earned on the funds credited to the Reserve Fund shall be deemed to be part of the Reserve Fund. The Center is authorized to withdraw at any time from the Reserve Fund fifty (50%) percent of all interest or income that has been credited to the Reserve Fund, except that after the first such withdrawal the Center may not withdraw more than fifty (50%) percent of all interest or income that has been credited to the Reserve Fund since the time of the last such withdrawal. These withdrawals need not be returned to the Reserve Fund. Interest withdrawals may be used for any purpose in connection with the Program
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Ownership, Control and Investments of Reserve Fund. All funds credited to the Reserve Fund shall be the exclusive property of, and solely controlled by, the MSF. The MSF may not withdraw funds from the Reserve Fund except as is provided for in this Agreement. Interest or income earned on the funds credited to the Reserve Fund shall be deemed to be part of the Reserve Fund. The MSF is authorized to withdraw at any time from the Reserve Fund fifty (50%) percent of all interest or income that has been credited to the Reserve Fund, except that after the first such withdrawal the MSF may not withdraw more than fifty (50%) percent of all interest or income that has been credited to the Reserve Fund since the time of the last such withdrawal. These withdrawals need not be returned to the Reserve Fund.
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Related to Ownership, Control and Investments of Reserve Fund

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

  • Commingling, Exchange and Investment of the Contributions 2.1. The Contributions shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Bank. The Contributions may be commingled with other trust fund assets maintained by the Bank.

  • Accounts Excluded from Financial Accounts The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Financial Institution with Only Low-Value Accounts An Estonian Financial Institution satisfying the following requirements:

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Availability of State Funds The State of Florida’s performance and obligation to pay under this Agreement are contingent upon an annual appropriation by the Florida Legislature. In the event that the state funds upon which this Agreement is dependent are withdrawn, this Agreement will be automatically terminated and the Division shall have no further liability to the Grantee beyond those amounts already expended prior to the termination date. Such termination will not affect the responsibility of the Grantee under this Agreement as to those funds previously distributed. In the event of a state revenue shortfall, the total grant may be reduced accordingly.

  • Permitted Investments At any time, any one or more of the following obligations and securities:

  • 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).

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

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