Common use of Transfer of Excess of Reserve Requirement Clause in Contracts

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day before any Interest Payment Date, or on any other date at the request of an Authorized Officer, the amount in the Reserve Fund exceeds the Reserve Requirement, the Fiscal Agent shall provide written notice to the City of the amount of the excess and shall transfer an amount equal to the excess from the Reserve Fund to the Bond Fund to be used for the payment of interest on the Bonds on the next Interest Payment Date in accordance with Section 4.02.

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day before prior to any Interest Payment Date, or on any other date at the request of an Authorized Officerthe Treasurer, the amount in the Reserve Fund exceeds the Reserve Requirement, the Fiscal Agent shall provide written notice to the City Treasurer of the amount of the excess and shall transfer from the funds held in the Reserve Fund an amount equal to the excess from the Reserve Fund to the Bond Fund to be used for the payment of interest on the Bonds on the next Interest Payment Date in accordance with Section 4.024.05.

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day before day prior to any Interest Payment Date, or on any other date at the request of an Authorized Officerthe Treasurer (with a copy to the Executive Director), the amount in the Reserve Fund exceeds the Reserve Requirement, the Fiscal Agent shall provide written notice to the City Treasurer (with a copy to the Executive Director) of the amount of the excess and shall transfer an amount equal to the excess from the Reserve Fund to the Bond Fund to be used for the payment of interest on the Bonds on the next Interest Payment Date in accordance with Section 4.02.to

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day before any Interest Payment Date, or on any other date at the request of an Authorized Officer, the amount in the Reserve Fund exceeds the then Reserve Requirement, the Fiscal Agent shall provide written notice to the City Auditor of the amount of the excess and shall transfer an amount equal to the excess from the Reserve Fund to the Bond Fund to be used for the payment of interest on the Bonds on the next Interest Payment Date in accordance with Section 4.024.04.

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day before any Interest Payment Date, or on any other date at the request of an Authorized Officer, the amount in the Reserve Fund exceeds the then Reserve Requirement, the Fiscal Agent shall provide written notice to the City School District and the Treasurer of the amount of the excess and shall transfer an amount equal to the excess from the Reserve Fund to the Bond Fund to be used for the payment of interest on the 2014 Bonds on the next Interest Payment Date in accordance with Section 4.024.04.

Transfer of Excess of Reserve Requirement. Whenever, on the Business Day or before any Interest Payment Date, or on any other date at the request of an Authorized Officerthe Finance Director, the amount in the Reserve Fund exceeds the Reserve Requirement, the Fiscal Agent shall provide written notice to the City Finance Director of the amount of the excess and shall transfer an amount equal to the excess from the Reserve Fund to the Bond Fund Fund, to be used for the payment of to pay interest on the Bonds on the next Interest Payment Date in accordance with Section 4.02Date.