Procedure for the Issuance of 2022 Series A Bonds; Application of 2022 Series A Bond Proceeds Sample Clauses

Procedure for the Issuance of 2022 Series A Bonds; Application of 2022 Series A Bond Proceeds. At any time after the sale of the 2022 Series A Bonds in accordance with the Act, the County shall execute the 2022 Series A Bonds for issuance hereunder and shall deliver them to the Trustee, and thereupon the 2022 Series A Bonds shall be authenticated and delivered by the Trustee to the purchaser thereof upon the Written Request of the County and upon receipt of payment therefor from the purchaser thereof. Upon receipt of payment for the 2022 Series A Bonds from the purchaser thereof, the Trustee shall set aside and deposit the proceeds received from such sale in the following respective accounts or funds or with the following respective persons, in the following order of priority:‌ (a) The Trustee shall deposit $ of the 2022 Series A Bond proceeds in the Refunding Fund, which fund is hereby established by the Trustee. The Trustee may establish additional funds and accounts or subaccounts under the Trust Agreement. On the Closing Date for the 2022 Series A Bonds, the Trustee shall promptly transfer all amounts in the Refunding Fund to the System and the Trustee shall close the Refunding Fund. (b) The Trustee shall deposit $ in the Costs of Issuance Fund (2022 Series A Bonds), which fund is hereby created and which fund the Trustee hereby agrees to maintain. All money in the Costs of Issuance Fund (2022 Series A Bonds) shall be used and withdrawn by the Trustee to pay or reimburse the Costs of Issuance of the 2022 Series A Bonds upon receipt of a Written Request of the County filed with the Trustee, each of which shall be sequentially numbered and shall state the person to whom payment is to be made, the amount to be paid, the purpose for which the obligation was incurred and that such payment is a proper charge against said fund. Any moneys remaining in the Costs of Issuance Fund (2022 Series A Bonds) on July 1, 2022 shall be applied by the Trustee to pay interest on the 2022 Series A Bonds and the Trustee shall close the Costs of Issuance Fund (2022 Series A Bonds). The Trustee is authorized to establish such funds, accounts, sub-funds and sub-accounts in its records as the Trustee deems necessary or appropriate for accounting and record-keeping purposes with respect to the Bonds.
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Related to Procedure for the Issuance of 2022 Series A Bonds; Application of 2022 Series A Bond Proceeds

  • Trustee Not Responsible for Recitals or Issuance of Notes The recitals and statements contained herein shall be taken as statements of the Partnership, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes other than with respect to the Trustee’s authentication. The Trustee shall not be accountable for the use or application by the Partnership of the Notes or the proceeds thereof.

  • SECTION 402. Application of Trust Money Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee.

  • Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Issuer of any of the Securities or of the proceeds thereof.

  • Trustee Not Responsible for Recitals or Issuance of Securities The recitals contained herein and in the Securities, except for the Trustee's certificates of authentication, and in any coupons shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof.

  • Trustee Not Responsible for Recitals or Issuance or Securities (a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. (c) The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee.

  • Issuance of Notes The Owner Trustee is hereby authorized and directed on behalf of the Trust to execute, issue and deliver the Notes pursuant to the Indenture.

  • Not Responsible for Recitals or Issuance of Notes The recitals contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Notes or the proceeds thereof.

  • Application of Trust Funds Certain Duties Section 5.01. [Reserved].

  • Issuance of New Certificates to Pledgee A pledgee of Shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of pledgor shall be stated thereon, who alone shall be liable as a Shareholder and entitled to vote thereon.

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