Use of Moneys in Debt Service Accounts Sample Clauses

Use of Moneys in Debt Service Accounts. Available moneys in each Debt Service Account shall be used, subject to any restrictions on the use of such moneys set forth in any Tax Compliance Certificate, solely for the payment of:
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Use of Moneys in Debt Service Accounts. Moneys in each Account of the Debt Service Fund shall be used solely for the pro rata payment of (i) the Debt Service on and the Redemption Price of Bonds with the same Lien designation as such Account and (ii) any other regularly scheduled payments owed to the providers of Credit Facilities and Hedge Agreements entered into with respect to such Bonds in accordance with Section 6.12 of the Initial Senior Loan Agreement or any other Loan Agreement under which the proceeds of Senior Xxxx Xxxxx are loaned by the Issuer to the Borrower; provided, that (i) moneys representing accrued interest received at the time of issuance of any Series of Bonds shall be used to pay the first interest payment due on such Bonds; (ii) moneys transferred to such Account of the Debt Service Fund from an Account of the Capitalized Interest Fund shall be used to pay interest on the Series of Bonds for which such Account of the Capitalized Interest Fund was created; (iii) moneys paid by the Issuer with respect to the Redemption Price of Bonds pursuant to Section 4.8 hereof shall be used to pay the Redemption Price of the Bonds with respect to which such payment was made; and (iv) moneys held in such Account of the Debt Service Fund following an Event of Default shall be used as provided in Section 7.3 hereof. Subject to Section 2.4 of the Intercreditor Agreement, moneys deposited in the Senior Xxxx Xxxxx Interest Account and the Senior Xxxx Xxxxx Principal Account after the occurrence of a Bankruptcy Related Event and the TIFIA Bond becoming a Senior Xxxx Xxxx shall include amounts due on the TIFIA Bonds and the TIFIA Bonds shall be treated as any other Senior Xxxx Xxxx.
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Related to Use of Moneys in Debt Service Accounts

  • Application of Moneys All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:

  • Payment of Monies The parties acknowledge and agree that any payment of monies required to be made hereunder shall be made in Canadian funds and that any tender of monies or documents hereunder may be made upon the solicitors acting for the party upon whom the tender is desired and it shall be sufficient that a negotiable bank draft is tendered instead of cash.

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Business Accounts If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to: • enter into this Agreement, as amended from time to time; • access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and • use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

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