Administrative Expenses Account definition
Examples of Administrative Expenses Account in a sentence
No amounts deposited with the Trustee by the Borrower in the Administrative Expenses Account for Costs of Issuance shall be deemed to satisfy any portion of the Borrower’s obligation to repay the Loan unless applied thereto or to the redemption of Bonds.
Payment shall be made to the Trustee, solely from the Administrative Expenses Account as provided by Section 5.05, for the Trustee Fee and extraordinary expenses incurred in and about the administration and execution of the trusts hereby created and the performance of its powers and duties hereunder.
The Issuer hereby directs the Trustee to establish and maintain so long as any of the Bonds are Outstanding a separate account within the Bond Fund to be known as the Administrative Expenses Account.
In addition, the Trustee shall make payments from the Administrative Expenses Account to pay Costs of Issuance upon receipt of a written requisition, in the form attached as Exhibit E.
Money representing the Borrower Contribution held in the Administrative Expenses Account to pay Costs of Issuance sixty (60) days after closing the sale of the Bonds shall be released by Trustee to Borrower.
The Trustee shall deposit to the Administrative Expenses Account those amounts required by Section 5.02 and Section 6.01.
On each Bond Payment Date, the Trustee shall pay from the Administrative Expenses Account, to the extent such amounts are then payable (a) to the Trustee, the Trustee Fee, (b) to the Issuer, the Issuer Fee, (c) to the Servicer, the Servicer Fee, (d) to the Rebate Analyst, the Rebate Analyst Fee, and (e) to the Financial Monitor, the Financial Monitor Fee.
Money in the Administrative Expenses Account shall be invested in accordance with Section 6.05 with such maturities as shall be necessary to provide cash to make the transfers required hereby.
After the payment in full of all amounts to be paid from the Trade Payables Account or the Administrative Expenses Account, or, in the case of the Cure Cost Account, after the completion of all releases and disbursements from such account required under Section 2.5(d), Sellers shall be entitled, subject to the approval of the Bankruptcy Court, to cause any funds remaining in such account (together with all interest accrued thereon) to be released from escrow and disbursed to Sellers.
Within ten (10) days following the Preliminary Approval Date, ▇▇▇▇▇▇ ▇▇▇▇▇▇ shall wire transfer the Initial Payment into the Cash Settlement Notice and Administrative Expenses Account.