Reserve Policy. Collector shall establish a reserve policy to ensure that sufficient funds are in place to meet anticipated refund obligations. Prior notice that a reserve is being established shall be provided to the Taxing Authority. Since the Commonwealth of Pennsylvania governs the length of time that is allowed to process refunds, a timely response to refunds will be required to avoid an interest accrual. The Taxing Authority will be notified that a reserve is being made and monthly reports will identify the reserved amount deducted from the current month settlement.
Reserve Policy. The Reserve Policy, a Rule 10b-5 certificate and a Rule 15c2-12 certificate of the Insurer, and an opinion of counsel to the Insurer addressed to the City and the Underwriter in form and substance acceptable to Bond Counsel and to counsel to the Underwriter.]
Reserve Policy. Evidence satisfactory to the Underwriters that the Trustee shall have received the Reserve Policy from the Insurer.
Reserve Policy. (a) The MDTA shall repay any draws under the 2021A Reserve Policy and pay all related reasonable expenses incurred by the 2021A Reserve Policy Insurer. Interest shall accrue and be payable on such draws and expenses from the date of payment by the 2021A Reserve Policy Insurer at the Late Payment Rate. “
Reserve Policy. Borrowers shall not directly or indirectly modify their reserve policy from the policy in effect on the date of the Sixth Amendment without the prior written consent of the Bank.
Reserve Policy. The Reserve Requirement will be satisfied by deposit in the Reserve Fund of the Reserve Policy delivered by the Certificate Insurer. The District and the Trustee covenant to comply with each of the provisions set forth in Appendix D hereto which provisions are hereby incorporated herein by reference thereto.
Reserve Policy. It will be our policy to maintain reserve funds as required by Chapter 319hh of the Connecticut General Statutes (Sec. 17b-520 et seq.) and the Connecticut Department of Social Services ("DSS").
Reserve Policy. The District’s Development Program Manager may develop a Reserve Policy to establish minimum levels for designated funds to ensure stable program and project execution, meet future needs, and protect against financial instability.
Reserve Policy. Develop a Financial Reserve Policy for LARPD and present it to the Board by June 30, 2022. Implement this policy starting July 1, 2022.
