Unspent Series 2017 Bond Proceeds Sample Clauses

Unspent Series 2017 Bond Proceeds. The Series 2017 Bonds are subject to extraordinary mandatory redemption prior to maturity, in whole or in part, on any date that is no earlier than five
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Unspent Series 2017 Bond Proceeds. The Series 2017 Bonds are subject to extraordinary mandatory redemption prior to maturity, in whole or in part, on any date that is no earlier than five (5) years after the Closing Date and no later than five (5) years and ninety (90) days after the Closing Date, at a Redemption Price equal to 100% of the principal amount of the Series 2017 Bonds to be redeemed, plus accrued interest to the date fixed for redemption, from amounts transferred to the Series 2017 Redemption Account from the Series 2017 Bonds Mandatory Prepayment Sub-Account pursuant to Sections 5.02(h)(i)(C) and 5.15 of the Collateral Agency Agreement, representing any remaining unspent Series 2017 Bonds proceeds (rounded down to the nearest multiple of $5,000) on deposit in the Series 2017 Bonds Proceeds Sub-Account of the Construction Account that are transferred from the Series 2017 Bonds Proceeds Sub-Account of the Construction Account to the Series 2017 Bonds Mandatory Prepayment Sub-Account pursuant to Sections 5.02(h)(i)(C) and 5.15 of the Collateral Agency Agreement. Notwithstanding the provisions of the previous sentence, the Series 2017 Bonds shall not be subject to extraordinary mandatory redemption if the Borrower obtains an opinion of Bond Counsel stating that the failure to redeem any such Series 2017 Bonds will not adversely affect the exclusion of interest on such Series 2017 Bonds from gross income for federal income tax purposes. If the Series 2017 Bonds are redeemed in part pursuant to this clause (a), the Series 2017 Bonds will be redeemed in the manner described in Section 4.05 of the Indenture (provided that a portion of a Series 2017 Bond may be redeemed only in Authorized Denominations).
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Related to Unspent Series 2017 Bond Proceeds

  • 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.

  • 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.

  • Debt Collection Unpaid licensing fees and charges for cleaning, damage to property, equipment, and furnishings are an obligation by the occupant to Housing Services. Any unpaid account balances will be sent to an outside collection agency and may be reported to one or more credit bureau reporting service(s). After internal collection efforts have failed to result in full payment, and in accordance with RCW 19.16.500, collection fees of up to 50% of the unpaid balance will be assessed to your account, and you are responsible for paying these fees together with all costs and expenses, including reasonable attorney's fees and court costs, necessary for the collection of your delinquent account. Requests for future housing will be considered only if payments are current.

  • Reserve Funds Section 7.1.

  • 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.

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • RECYCLED BOND PAPER Consistent with the Board of Supervisors’ policy to reduce the amount of solid waste deposited at the County landfills, the Contractor agrees to use recycled-content paper to the maximum extent possible on this Contract.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

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