Purchase Fund. The Tender Agent shall establish and maintain a special fund designated as the “Purchase Fund,” and within such fund three separate accounts designated, respectively, as the “Liquidity Facility Deposit Account,” the “Remarketing Proceeds Account” and the “Borrower Purchase Account.” Upon the designation of two or more subseries of Bonds pursuant to Section 2.02E, the Tender Agent shall establish and maintain a separate subaccount for each subseries within each such Account and shall deposit to and draw on the applicable subaccount all receipts in respect of and all payments of the Purchase Price of the Bonds of the subseries for which such subaccount is established. The money in the Purchase Fund shall be held in trust and applied solely as provided in this Section. The Tender Agent shall deposit all moneys delivered to it hereunder for the purchase of Bonds into the Remarketing Proceeds Account and shall hold all such moneys in trust for the exclusive benefit of the Person that shall have so delivered such moneys until the Bonds purchased with such moneys shall have been delivered to it for the account of such Person and, thereafter, for the benefit of the Bondholders tendering such Bonds. The Tender Agent shall deposit all moneys delivered to it hereunder from a payment by or on behalf of any Liquidity Facility Provider for the purchase of Bonds into the Liquidity Facility Deposit Account and shall hold all such moneys in trust for the exclusive benefit of such Liquidity Facility Provider until the Bonds purchased with such moneys shall have been delivered to or for the account of such Liquidity Facility Provider and, after such delivery, the Tender Agent shall hold such funds exclusively for the benefit of the Bondholders tendering such Bonds. The Tender Agent shall deposit all moneys delivered to it hereunder from a payment by or on behalf of the Borrower for the purchase of Bonds into the Borrower Purchase Account and shall hold all such moneys in trust for the exclusive benefit of the Borrower until the Bonds purchased with such moneys shall have been delivered to or for the account of the Borrower and, after such delivery, the Tender Agent shall hold such funds exclusively for the benefit of the Bondholders tendering such Bonds. Moneys in the Liquidity Facility Deposit Account, the Remarketing Proceeds Account and the Borrower Purchase Account shall not be commingled with other funds held by the Tender Agent and shall remain uninvested. Neither the ...
Purchase Fund. There is hereby established and there shall be maintained with the Paying Agent, as agent for the Trustee, a separate fund to be known as the “Purchase Fund.” The Paying Agent shall further establish separate accounts within the Purchase Fund to be known as the “Standby Purchase Account” and the “Remarketing Proceeds Account.”
Purchase Fund. There is hereby established and there shall be maintained with the Trustee a separate fund to be known as the “Purchase Fund”. The Trustee shall further establish separate accounts within the Purchase Fund to be known as the “Remarketing Proceeds Account” and the “Company Purchase Account.”
Purchase Fund. The Trustee shall establish and maintain a separate fund to be known as the “Purchase Fund” into which shall be deposited a portion of the proceeds of sale of the Bonds pursuant to Section 3.2(a) hereof. The Trustee shall use the proceeds of the Bonds to purchase Local Obligations on the Closing Date; provided, however, that such Local Obligations may be purchased only if the Trustee has received a certificate of the Original Purchaser of the Bonds or an Independent Financial Consultant stating that the Revenues to be available to the Trustee, assuming timely payment of the Local Obligations, will be sufficient to permit the timely payment of the principal of and interest on all Outstanding Bonds.
Purchase Fund. In each calendar quarter commencing with the quarter beginning on January 1, 1997, the Corporation will make all reasonable efforts to purchase in the open market in Canada, at such time or times as the Corporation in its discretion shall determine, at prices below the principal amount thereof plus accrued and unpaid interest and costs of purchase, up to 1% of the aggregate principal amount of the Securities originally issued hereunder which Securities so purchased shall be promptly surrendered by the Corporation to the Trustee for cancellation. If in any of the first three calendar quarters of a calendar year the Corporation shall, for any reason, including the fact that the Securities did not trade below their principal amount, be unable, by the exercise of all reasonable efforts, to purchase as aforesaid, the maximum principal amount of Securities which it is obliged by this Section 1110 to endeavour to purchase during such quarter, then the Corporation shall not be in default hereunder, but in each such case the maximum principal amount of the Securities which it shall be obliged to make all reasonable efforts to purchase as aforesaid during the next succeeding calendar quarter or quarters of the said calendar year, if any, shall be increased by that amount which is equal to the difference between the maximum principal amount of Securities which the Corporation was obliged to endeavour to purchase during such first mentioned quarter and the principal amount of Securities actually purchased during such first mentioned quarter in discharge of that obligation. Provided that:
Purchase Fund. There is hereby established and there shall be maintained with the Tender Agent, as agent for the Trustee, a separate fund to be known as the "Purchase Fund". The Tender Agent shall further establish separate accounts within the Purchase Fund to be known as the "Liquidity Facility Purchase Account" and the "Remarketing Proceeds Account" and the "Company Purchase Account".
Purchase Fund. The Trustee shall establish and maintain a separate fund to be known as the “Purchase Fund” into which shall be deposited a portion of the proceeds of sale of the Authority Bonds pursuant to Section 3.2(c) hereof. The Trustee shall use the proceeds of the Authority Bonds to purchase the Reassessment Bonds on the Closing Date; provided, however, that the Reassessment Bonds may be purchased only if the Trustee has received a certificate of the Original Purchaser of the Authority Bonds or an Independent Financial Consultant stating that the Revenues to be available to the Trustee, assuming timely payment of the Reassessment Bonds, will be sufficient to permit the timely payment of the principal of and interest on all Outstanding Authority Bonds. When no amounts remain on deposit in the Purchase Fund, the Purchase Fund shall be closed.
Purchase Fund. The Tender Agent shall establish and maintain a special fund designated as the "Bond Purchase Fund" (herein called the "Purchase Fund") and within such fund two separate accounts for each Series of 2010 Bonds issued, designated, respectively, as the " Credit Facility Proceeds Account," and the " Remarketing Proceeds Account" (inserting therein the Series designation of such 2010 Bonds). The money in the Purchase Fund shall be held in trust and applied solely as provided in this subsection. The Tender Agent shall deposit all moneys, other than proceeds of drawings upon a Credit Facility, delivered to it hereunder for the purchase of 2010 Bonds of a Series into the related Series-designated Remarketing Proceeds Account if such amounts arise from the remarketing of such 2010 Bonds, and shall hold all such moneys in trust for the exclusive benefit of the persons that shall have so delivered such moneys until the 2010 Bonds purchased with such moneys shall have been delivered to it for the account of such persons and, thereafter, for the benefit of the Holders tendering such 2010 Bonds. Moneys in a Series-designated Credit Facility Proceeds Account shall be used to pay the purchase price only of 2010 Bonds of such Series, and moneys received from the remarketing of 2010 Bonds of any Series, shall be used only to pay the purchase price only of 2010 Bonds of such Series. The Tender Agent shall deposit all moneys delivered to it hereunder from drawings under a Credit Facility for the purchase
Purchase Fund. (a) There is hereby created and established with the Trustee a trust fund designated "The Industrial Development Board of the City of Montgomery -- KINPAK 2002 Bond Purchase Fund" (the "Bond Purchase Xxxx"). The Trustee shall be the custodian for the Bond Purchase Fund, and moneys in such Fund may be disbursed by the Trustee as hereinafter provided. The moneys in the Bond Purchase Fund shall be used (i) to pay the Purchase Price of Bonds due on any Tender Date or (ii) to reimburse the Bank for amounts drawn under the Letter of Credit, as provided in subsection (d) of this Section.
Purchase Fund. The Corporation will covenant in the Trust Indenture that, commencing January 1, 1997, it will make all reasonable efforts to purchase for cancellation in the open market during each calendar quarter an amount equal to 1% of the aggregate principal amount of the Debentures outstanding on the date of their issue, at prices below par plus accrued and unpaid interest and costs of purchase. If, in any of the first three calendar quarters of a calendar year, the Corporation is unable to purchase such principal amount of the Debentures for any reason, including the fact that the Debentures did not trade below par, such purchase fund obligation for any such calendar quarter, to the extent unfulfilled, will be carried forward for the succeeding quarter or quarters of the said calendar year. All purchase fund obligations which the Corporation has been unable to fulfill during any calendar year shall become extinguished as at the end of such year. The Debentures which the Corporation is obligated to purchase during any calendar quarter pursuant to this provision will be reduced by the aggregate principal amount of the Debentures redeemed or purchased by the Corporation in the same calendar quarter otherwise than pursuant to this provision.
