Proceeds of Certificates Sample Clauses

The "Proceeds of Certificates" clause defines how funds generated from the issuance or sale of certificates are to be handled and distributed. Typically, this clause outlines the process for collecting, managing, and allocating the proceeds, specifying which parties are entitled to receive the funds and under what conditions. For example, it may direct that proceeds be used to pay down certain obligations or be held in trust for beneficiaries. The core function of this clause is to ensure transparency and proper allocation of funds, thereby preventing disputes over entitlement and use of the proceeds.
Proceeds of Certificates. (a) The proceeds of the sale of the Series A Certificates received by the Trustee, $ , shall be deposited or transferred by the Trustee as follows: (i) the Trustee shall deposit in the Costs of Issuance Fund the amount of $ ; and (ii) the Trustee shall transfer to the Escrow Bank the amount of $ for deposit in the Current Refunding Account in the Escrow Fund established under the Escrow Agreement, to be applied to the payment and redemption of the Prior Certificates (Current Refunding) in accordance with the terms of the Escrow Agreement. (b) The proceeds of the sale of the Series B Certificates received by the Trustee, $ , shall be deposited or transferred by the Trustee as follows: (i) the Trustee shall deposit in the Costs of Issuance Fund the amount of $ ; and (ii) the Trustee shall transfer to the Escrow Bank the amount of $ for deposit in the Defeasance Account in the Escrow Fund established under the Escrow Agreement, to be applied to the payment and redemption of the Prior Certificates (Defeasance) in accordance with the terms of the Escrow Agreement.
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Proceeds of Certificates. The proceeds of the Certificates shall be used by the Corporation to pay the District the rental payment due under the Ground Lease. The District hereby directs the Corporation to make such payment to the Trustee. The proceeds of the sale of the Certificates so received by the Trustee, $ (which constitutes the purchase price of the Certificates less the premium for the Insurance Policy ($ ) to be wired directly to the Insurer by the Purchaser, and less the premium for the Reserve Policy ($ ) to be wired directly to the Reserve Insurer by the Purchaser), shall be deposited by the Trustee as follows, as directed by a Written Request of the District: (a) the Trustee shall deposit in the Costs of Issuance Fund established pursuant to Section 3.03 hereof the amount of $ ; and (b) the Trustee shall deposit in the Acquisition Fund established pursuant to Section 3.04 hereof the amount of $ . The Trustee shall deposit in the Reserve Fund established pursuant to Section 5.05 hereof the Reserve Policy, in an amount equal to the Reserve Requirement.
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Proceeds of Certificates. The proceeds of the sale of the Certificates received by the Trustee, $[ ], shall be applied by the Trustee as follows: (a) the Trustee shall transfer to the 2007 Trustee for deposit in the 2007 Prepayment Fund the amount of $[ ]; and (b) the Trustee shall deposit in the Costs of Issuance Fund the amount of $[ ].
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Related to Proceeds of Certificates

  • Loss of Certificates In case of the alleged loss or destruction or the mutilation of a share certificate, a duplicate certificate may be issued in place thereof, upon such terms as the Trustees shall prescribe.

  • Replacement of Certificates If (i) any Certificate is mutilated and is surrendered to the Trustee or any Authenticating Agent or (ii) the Trustee or any Authenticating Agent receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and there is delivered to the Trustee or the Authenticating Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Depositor and any Authenticating Agent that such destroyed, lost or stolen Certificate has been acquired by a bona fide purchaser, the Trustee shall execute and the Trustee or any Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and Certificate Principal Amount. Upon the issuance of any new Certificate under this Section 3.05, the Trustee and Authenticating Agent may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee or the Authenticating Agent) connected therewith. Any replacement Certificate issued pursuant to this Section 3.05 shall constitute complete and indefeasible evidence of ownership in the applicable Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

  • Effect of Certificates Any certificate signed by any officer of the Company and delivered to you or to counsel for the Underwriters shall be deemed a representation and warranty by the Company to each Underwriter as to the matters covered thereby.

  • Designation of Certificates Designation of Startup Day and Latest Possible Maturity Date................................ Section 2.06 Optional Substitution of Mortgage Loans...........................

  • Execution of Certificates The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery of the Trustee's Mortgage Files relating thereto to it and, concurrently with such delivery, has executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, the Trustee's Mortgage Files and the other assets included in the definition of Trust Fund, Certificates duly authenticated by the Trustee in Authorized Denominations evidencing the entire ownership of the Trust Fund.