Technology Reserve Funds Sample Clauses

Technology Reserve Funds. In addition to and concurrently with payment of the License Fee each month, SCN hereby agrees to and shall allocate three percent (3%) of its Gross Revenue for the preceding month to be used in connection with expenditures to be made from the Technology Reserve Fund (herein referred to as the “Technology Reserve Funds”). During the Term of this Agreement, if, at any time following completion of the Infrastructure Upgrade, the Executive Director determines in his sole discretion that additional upgrades or Products are needed for the ACC, the Executive Director may, at his option, require SCN to increase from three percent (3%) to four percent (4%) the amount of Gross Revenue to be allocated by SCN for use in connection with the expenditures to be made from the Technology Reserve Fund.
Sample 1
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Technology Reserve Funds. In addition to and concurrently with payment of the License Fee each month, SCN hereby agrees to and shall allocate three percent (3%) of its Gross Revenue for the preceding month to be used in connection with expenditures to be made from the Technology Reserve Fund (herein referred to as the “Technology Reserve Funds”).
Sample 1

Related to Technology Reserve Funds

  • Reserve Funds Section 7.1.

  • 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 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.

  • 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.

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