Special Accounts. For the purposes of this Schedule:
Special Accounts. 1. The Recipient shall open and maintain in FCFA in a commercial bank, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment two special deposit accounts, namely:
(a) Special Account A for Part A of the Project; and (b) Special Account B for Part B of the Project.
2. After the Association has received evidence satisfactory to it that the Special Accounts have been opened, withdrawals from the Grant Account of amounts to be deposited into the Special Accounts shall be made as follows:
(a) if the Recipient is not making Report-based Disbursements, withdrawals shall be made in accordance with the provisions of Annex A to this Schedule 1; and
(b) if the Recipient is making Report-based Disbursements, withdrawals shall be made in accordance with the provisions of Annex B to this Schedule 1.
3. Payments out of the Special Accounts shall be made exclusively for Eligible Expenditures. For each payment made by the Recipient out of the Special Accounts, the Recipient shall, at such time as the Association shall reasonably request, furnish to the Association such documents and other evidence showing that such payment was made exclusively for Eligible Expenditures.
4. Notwithstanding the provisions of Part B.2 of this Schedule, the Association shall not be required to make further deposits into the Special Accounts:
(a) if the Association, at any time, is not satisfied that the reports referred to in Part A.6 of this Schedule 1 adequately provide the information required for Report- based Disbursements;
(b) if the Association determines at any time that all further withdrawals for payment of Eligible Expenditures should be made by the Recipient directly from the Grant Account; or
(c) if the Recipient shall have failed to furnish to the Association, within the period of time specified in Section 4.01 (b) (ii) of this Agreement, any of the audit reports required to be furnished to the Association pursuant to said Section in respect of the audit of: (i) the records and accounts for the Special Accounts; or (ii) the records and accounts reflecting expenditures with respect to which withdrawals were Report-based Disbursements or were made on the basis of statements of expenditure, as the case may be.
5. The Association shall not be required to make further deposits into the Special Accounts in accordance with the provisions of Part B.2 of this Schedule if, at any time, the Association shall have no...
Special Accounts. 1. The Borrower shall open and maintain in dollars nineteen separate special deposit accounts (the Federal Special Account, and a Special Account for each Participating State) in commercial banks, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment.
2. After the Association has received evidence satisfactory to it that the Special Accounts have been opened, withdrawals from the Credit Account of amounts to be deposited into said Special Accounts shall be made as follows:
(a) until the Association shall have received: (i) the first Project Management Report referred to in Section 4.02 (b) of this Agreement; and (ii) a request from the Borrower for withdrawal on the basis of Project Management Reports, withdrawals shall be made in accordance with the provisions of Annex A to this Schedule 1; and
(b) upon receipt by the Association of a Project Management Report pursuant to Section 4.02 (b) of this Agreement, accompanied by a request from the Borrower for withdrawal on the basis of Project Management Reports, all further withdrawals shall be made in accordance with the provisions of Annex B to this Schedule 1.
3. Payments out of each Special Account shall be made exclusively for Eligible Expenditures. For each payment made by the Borrower out of a Special Account, the Borrower shall, at such time as the Association shall reasonably request, furnish to the Association such documents and other evidence showing that such payment was made exclusively for Eligible Expenditures.
4. Notwithstanding the provisions of Part B.2 of this Schedule, the Association shall not be required to make further deposits into any Special Account:
(a) if the Association determines at any time that any Project Management Report does not adequately provide the information required pursuant to Section 4.02 of this Agreement;
(b) if the Association determines at any time that all further withdrawals should be made by the Borrower directly from the Credit Account; or
(c) if the Borrower shall have failed to furnish to the Association within the period of time specified in Section 4.01 (b) (ii) of this Agreement, any of the audit reports required to be furnished to the Association pursuant to said Section in respect of the audit of: (A) the records and accounts for any Special Account; or (B) the records and accounts reflecting expenditures with respect to which withdrawals were made on the basis of Project Manag...
Special Accounts. The Contingent Agent has the right and authority to open a special brokerage account or other financial institution account to maintain the securities or proceeds and to facilitate transactions. Such accounts will be a fiduciary account for the Covered Holders.
Special Accounts. The Seller hereby transfers to the Purchaser, and shall cause each of the Transferring Affiliates to transfer to the Purchaser, effective concurrently with the initial Purchase hereunder, all right, title and interest of such Originating Entity in and to each Special Account, together with each lock-box related thereto and all agreements between such Originating Entity and the applicable Special Account Bank. The Seller hereby authorizes the Purchaser and its assigns to take, to the extent permitted by applicable law, any and all steps in the Seller’s or any other Originating Entity’s name (which power, in the case of each Transferring Affiliate, the Seller is authorized to grant pursuant to authority granted to the Seller under the Transferring Affiliate Letter) and on behalf of the Seller and such Originating Entity necessary or desirable, in the determination of the Purchaser or such assign, to collect all amounts due under any and all Receivables, including, without limitation, endorsing the Seller’s or such Originating Entity’s name on checks and other instruments representing Collections and enforcing such Receivables and the related Contracts; provided, however, that neither the Purchaser nor any of its assigns shall have the power or authority to direct Obligors of Receivables or Related Security payable under the CHAMPUS/VA, Medicare or Medicaid program to make payment of amounts due or to become due to the Seller or any Transferring Affiliate in respect of such Receivables or Related Security directly to either the Intermediate Concentration Account or the Concentration Account or to the Purchaser, the Purchaser’s assigns or any of their respective designees, except for any such payment in respect of such Receivables or Related Security or any assignment thereof that is established by, or made pursuant to, the order of a court of competent jurisdiction.
Special Accounts. Borrower shall maintain two (2) segregated interest bearing accounts (collectively, the "Special Accounts") with a federally insured bank approved by Lender, as provided herein. Such bank, Borrower and Lender shall enter into an account agreement acceptable to Lender, which includes the bank's waiver of any right of set off and grants to. Lender the exclusive right to withdraw all funds in the Special Accounts upon an Event of Default under the Loan Documents. Borrower shall deliver to Lender within thirty (30) days after the end of each calendar quarter, an accounting of all deposits and withdrawals of each of the Special Accounts. The Special Accounts shall consist of the Operating Cash Flow Account, and the Management Fee Account as follows:
5.6.1 Prior to the commencement of the Permanent Term, Borrower shall deposit all of Borrower's Cash Flow into an account (the "Operating Cash Flow Account"). Borrower shall have no right to make withdrawals from the Operating Cash Flow Account prior to the Permanent Term. So long as there is no Event of Default or Incipient Default of which Lender has notified Borrower under the Loan Documents, on the first day of the Permanent Term (or, if such funds may not be withdrawn due to the existence of an Incipient Default which is thereafter cured, then on the date such Incipient Default is cured), Borrower may withdraw all amounts previously deposited in the Operating Cash Flow Account.
5.6.2 As more fully set forth in paragraph 5.5.1, prior to the thirteenth (13th) full calendar month after the commencement of the Permanent Term, Borrower shall deposit within an account (the "Management Fee Account") any fees for the operation and management of the Project and fees for consulting services rendered in connection therewith. So long as there is no Event of Default or Incipient Default of which Lender notified Borrower under the Loan Documents, on the first day of the Permanent Term (or if such funds may not be withdrawn due to the existence of an Incipient Default which is thereafter cured, then on the date such Incipient Default is cured) Borrower may withdraw all amounts previously deposited in the Management Fee Account.
Special Accounts. 1. The Borrower shall open and maintain in FCFA in a commercial bank, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment four special deposit accounts, namely:
(a) Special Account A for the proceeds of the Credit allocated to the financing of Part B. 2 of the Project;
(b) Special Account B for the proceeds of the Credit allocated to the financing of Parts A, B.1, C and D of the Project;
(c) Special Account C for the proceeds of the Grant allocated to the financing of Part B. 2 of the Project; and
(d) Special Account D for the proceeds of the Grant allocated to the financing of Parts A, B.1, C and D of the Project. Except as the Association may otherwise specify by notice to the Borrower, all withdrawals from the Financing Accounts shall be deposited by the Association into the respective Special Account in accordance with the provisions of this Schedule. Payments out of each Special Account shall be made exclusively for Eligible Expenditures. For each payment made by the Borrower out of a Special Account, the Borrower shall, at such time as the Association shall reasonably request, furnish to the Association such documents and other evidence showing that such payment was made exclusively for Eligible Expenditures.
2. Except as the Association shall otherwise agree, after the Association has received evidence satisfactory to it that a Special Account have been duly opened, withdrawals from the relevant Financing Account of amounts to be deposited into the said Special Account shall be made as follows:
(a) Each application for withdrawal from the Financing Accounts shall be supported by a Financial Monitoring Report.
(b) Upon receipt of each application for withdrawal of an amount of the Financing, the Association shall, on behalf of the Borrower, withdraw from the relevant Financing Account and deposit into the said Special Account an amount equal to the lesser of: (i) the amount so requested; and (ii) the amount which the Association has determined, based on the Financial Monitoring Report accompanying said application, is required to be deposited in order to finance Eligible Expenditures during the six-month period following the date of such report; provided, however, that the amount so deposited, when added to the amount indicated by said report to be remaining in the said Special Account, shall not exceed the equivalent of CFAF 300,000,000 in respect of Special Account A, CFA...
Special Accounts. The Seller shall, and shall cause each other Originating Entity to (i) establish and maintain Special Accounts with Special Account Banks, or to engage a Designated Account Agent to maintain a Special Account with a Special Account Bank on its behalf, (ii) instruct all Obligors to cause all Collections to be deposited directly into a Special Account, (iii) report on each banking day to the Concentration Account Bank, the amount of all Collections on deposit on such banking day in the Special Accounts at each Special Account Bank or, if an Intermediate Concentration Account has been established at such Special Account Bank, the amount of all Collections on deposit on such banking day in such Intermediate Concentration Account, and (iv) instruct (or cause the applicable Designated Account Agent to instruct) each Special Account Bank to transfer to the Concentration Account or an Intermediate Concentration Account prior to the close of business on such banking day all Collections on deposit during such banking day in the Special Accounts at such Special Account Bank or an Intermediate Concentration Account prior to the close of business on such banking day all Collections on deposit during such banking day in the Special Accounts at such Special Account Bank, (v) instruct each Intermediate Concentration Account Bank to transfer to the Concentration Account prior to the close of business on such banking day all Collections on deposit during such banking day in the Intermediate Concentration Accounts at such Intermediate Concentration Account Banks and (vi) instruct the Concentration Account Bank to give to each Special Account Bank on each banking day notice to transfer to the Concentration Account all Collections on deposit during such banking day in the Special Accounts at such Special Account Bank (or, if an Intermediate Concentration Account has been established at such Special Account Bank, in the Intermediate Concentration Account at such Special Account Bank); provided, however, that if the Collections on deposit in any Special Account during such banking day shall be less than $20,000.00 (the “Minimum Amount”), the Special Account Bank shall transfer such Collections to the Concentration Account or the applicable Intermediate Concentration Account on the next succeeding banking day on which Collections in such Special Account first exceed the Minimum Amount. With respect to any Special Account that is located at or maintained by a Bank Investor, the Se...
Special Accounts. NBDB offers a wide variety of special accounts to meet the specific financial needs of certain entities. This includes: companies, sole proprietorships, estates, trusts, partnerships, investment clubs, associations and Individual Pension Plans (IPPs).
Special Accounts. 1. The Recipient may open and maintain in FCFA two special deposit accounts (Special Account A and Special Account B) in a commercial bank acceptable to the Association, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment.
2. For purposes of this Schedule:
