Technology Reserve Fund Sample Clauses

Technology Reserve Fund. In addition to the License Fee, Proposer will pay three percent (3%) of its Gross Revenues into a reserve fund created and held by it (Technology Reserve Fund). The Technology Reserve Fund will be used for the following: equipment maintenance and repair; equipment purchases; new technologies; hardware or software upgrades; and marketing. Use of any funds from the Technology Reserve Fund may not be made until written approved by the ACC ED or his designee is obtained. Any equipment, software or new technologies purchased with funds from the Technology Reserve Fund shall become the property of the ACC. At the end of the Agreement term, including any term extensions beyond the base term, Proposer shall pay ACC any unused balance in the Technology Reserve Fund within five (5) business days.
Sample 1
AutoNDA by SimpleDocs
Technology Reserve Fund. In addition to the License Fee, Proposer will pay three percent (3%) of its Gross Revenues into a reserve fund created and held by it (Technology Reserve Fund). The Technology Reserve Fund will be used for the following: equipment maintenance and repair; equipment purchases; new technologies; hardware or software upgrades; and marketing. Use of any funds from the Technology Reserve Fund may not be made until written approved by the ACC ED or his designee is obtained. Any equipment, software or new technologies purchased with funds from the Technology Reserve Fund shall become the property of the City. At the end of the Agreement term, including any term extensions beyond the base term, Proposer shall pay City any unused balance in the Technology Reserve Fund within five (5) business days.
Sample 1

Related to Technology Reserve Fund

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • Reserve Funds Section 7.1.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.

  • MAINTENANCE OF THE SAID BUILDING / APARTMENT / PROJECT The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the project by the association of the allottees. The cost of such maintenance has been included in the Total Price of the [Apartment/Plot]. [Insert any other clauses in relation to maintenance of project, infrastructure and equipment]

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!