Project Fund; Costs of Issuance Account Sample Clauses

Project Fund; Costs of Issuance Account. (a) Within the Project Fund, there are hereby established the following Accounts:
Sample 1
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Project Fund; Costs of Issuance Account. The Authority shall establish, maintain and hold a separate fund to be known as the "Project Fund." The proceeds of the Bonds deposited in the Project Fund shall be applied for the purpose of providing funds for the acquisition of the Property and of expenses incident to the Project, including architectural and engineering fees and expenses, tests and inspection, surveys, land acquisition, the fees and expenses of the Trustee, Costs of Issuance and all other expenses in connection with the preparation, issuance and delivery of the Bonds, legal fees and expenses of counsel, and similar expenses. Before any expenditure is made from the Project Fund, the Authority shall determine that the entire sum of the expenditures then to be made and of all other expenditures previously made from the Project Fund have been used to finance the acquisition of the Property and expenses incident thereto, all of which property other than land is of a character subject to the allowance for depreciation under Section 167 of the Code. When acquisition of the Property shall have been completed, the Authority shall transfer any remaining balance in the Project Fund to the Trustee for deposit into the Redemption Holding Account as provided in Section 4.7 hereof. Within the Project Fund, there shall be created the "Costs of Issuance Account" from which account costs of issuance of the Series 1996 Bonds shall be paid. Any moneys remaining in the Costs of Issuance Account on September 29, 1996 shall be transferred by the Authority to the Project Fund.
Sample 1

Related to Project Fund; Costs of Issuance Account

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Disbursements from Escrow Funds to Pay Escrow Agent The Escrow Agent is authorized to and may disburse from time to time, to itself or to any Indemnified Party from the Escrow Funds (but only to the extent of Issuer’s rights thereto), the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which Escrow Agent or any Indemnified Party is entitled to seek indemnification pursuant to Section 9 hereof). Escrow Agent shall notify Issuer of any disbursement from the Escrow Funds to itself or to any Indemnified Party in respect of any compensation or reimbursement hereunder and shall furnish to Issuer copies of all related invoices and other statements.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

  • Disbursement of Moneys from Fund Custody Account Upon receipt of Proper Instructions, the Custodian shall disburse moneys from the Fund Custody Account but only in the following cases:

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