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. In each calendar quarter commencing with the quarter beginning on July 1, 1992, the Company will make all reasonable efforts to purchase in the open market in Canada, at such time or times as the Company in its discretion shall determine, at a price or prices not exceeding in each case the principal amount thereof plus accrued and unpaid interest and costs of purchase, up to $1,125,000 principal amount of the Securities which Securities (together with all unmatured coupons, if any, appertaining thereto) so purchased shall be promptly surrendered by the Company to the Trustee for cancellation. If in any such calendar quarter the Company shall, for any reason, including the fact that the Securities did not trade at or below the aforesaid maximum price, 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 1016 to endeavour to purchase during such quarter, then the Company 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 quarters shall be increased by that amount which is equal to the difference between the maximum principal amount of Securities which the Company 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:
(a) If during any calendar quarter the obligation of the Company to endeavour to purchase Securities under this Section 1016 is in excess of $1,125,000 as aforesaid, then the principal amount of Securities purchased hereunder during such calendar quarter shall be deemed to be applied first in reduction of such excess, and if the principal amount so purchased is insufficient to discharge fully the obligation with respect to the entire such excess, it shall be deemed to be applied to the discharge of the respective amounts thereof arising in respect of each of the preceding calendar quarters in the order of their respective dates, beginning with the earliest such quarter;
(b) Where an obligation to endeavour to purchase Securities has been initially incurred in respect of any calendar quarter and during the next seven succeeding calendar quarters has not been deemed to have been fully discharged by virtue of subsequent...
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 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,
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.
Purchase Fund. The Purchase Fund is not part of the Trust Estate and is a fund to be held by the Tender Agent. The Tender Agent shall deposit to the credit of the Purchase Fund only the following promptly upon receipt:
(a) the Purchase Price of tendered Notes or Undelivered Notes sold pursuant to a remarketing agreement (other than to the Corporation); and
(b) all amounts derived from a Liquidity Facility to purchase tendered Notes or Undelivered Notes. The Tender Agent shall disburse amounts held for the credit of the Purchase Fund to purchase Notes, on behalf of the persons purchasing the same. No Notes shall be remarketed to the Corporation by any Remarketing Agent.
Purchase Fund. Subject to the terms and conditions of this Agreement, OmniVision agrees to remit fund to XinTec periodically (each a “Purchase Fund”) for the procurement of the Equipment in accordance with the approved list(s) and schedule(s) pursuant to Section 1.2 above. The Purchase Fund shall be held in a separate account and in trust for the benefit of OmniVision. The Purchase Fund will be disbursed and replenished from time to time for the payment of the Equipment or reimbursement of the advance payments made by XinTec. All disbursements and reimbursements shall be properly documented against duly issued invoices of the equipment vendors, together with packing lists, bills of ladings, and/or other commercial papers. In no event shall the Purchase Fund or any portion of it be used for any other purpose whatsoever. XinTec shall keep detailed records of such account and submit to OmniVision for review at least once a month, or sooner upon receipt of each shipment of Equipment pursuant to Section 1.5. Notwithstanding any provisions to the contrary, the aggregate purchase prices, inclusive of all shipping costs, labor costs, taxes, duties, insurances and installation fees, of the Equipment shall not exceed Fifty Million US Dollars ($50,000,000) (the “Maximum Purchase Price”). XinTec agrees that any amount over the Maximum Purchase Price shall be XinTec’s sole obligation. Upon disbursement and reimbursement of the complete list of the Equipment permitted herein, any balance of Purchase Fund, if any, shall be returned promptly to OmniVision.
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.
