Closure Fund definition

Closure Fund means a fund of money held by Trustee Co. for future reclamation and restoration of the Lands and to be transferred by the Commission to Trustee Co. and to be invested, managed and administered by Trustee Co. in accordance with the terms of the Trust Deed Agreement;

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Closure Fund means a fund of money held by the Vendor for future reclamation and restoration of the Lands, such fund to be transferred by the Vendor to Trustee Co. to be invested, managed and administered by Trustee Co.;

Closure Fund means, with respect to any Party, an account funded by that Party and maintained by Operator on and after January 1, 2006 to fund that Party's Closure Cost Share.

Examples of Closure Fund in a sentence

• If a Fund will be closed to new or subsequent purchases by shareholders ("Fund Closure"), Fund Company must notify Schwab as soon as practicable and shall use commercially reasonable efforts to complete and return a form closure notice provided by Schwab ("Fund Closure Form") at least (2) Business Days prior to the Fund Closure.

• At such time as the Closure Cost is finally determined, Operator shall compare the dollar amount of each Party's Closure Cost Share as of such time against the dollar amount balance of such Party's Closure Fund at such time (inclusive of earnings on deposits therein).

• In the case of each Funding Party for which an Interim Closure Fund is maintained as of January 1, 2006, such Interim Closure Fund shall on such date automatically convert to, and thereafter be, such Funding Party's Closure Fund.

• The per ton charge shall be revised from time to time (but not more than twice per year) by the operator to take into account changes in the Closure Cost Estimate, changes in the Remaining Tonnage, changes in the Funding Party's Participating Interest, and earnings accrued on amounts previously collected from the Funding Party and maintained in the Interim Closure Fund.

• In the case of each Party for which no Interim Closure Fund is maintained as of January 1, 2006 ( a "Previously Non- Funding Party") Operator shall establish a Closure Fund.

• The GP shall in addition be responsible for capping and long term monitoring of the Lands to be paid by Trustee Co. to GP from the Closure Fund.

• If the comparison indicates that such Party's Closure Cost Share exceeds such Party's Closure Fund balance, Operator shall cause the entire Closure Fund balance to be applied against the Closure Cost and shall invoice such Party for the amount by which the Party's Closure Cost Share exceeds such balance.

• Each Interim Closure Fund shall be invested in U.S. government securities or certificates of deposit of banks mutually agreed to among the Parties.

• If the comparison indicates that such Party's Closure Fund balance exceeds such Party's Closure Cost Share, Operator shall cause to be promptly refunded to such Party from such Party's Closure fund the amount by which such Closure Fund balance exceeds such Closure Cost Share, and shall cause the entire Closure Fund balance remaining after such refund to be applied against the Closure Cost.

• Each such Funding Party's Closure Fund shall be funded by a monthly charge to be collected by Operator from the Funding Party (through Operator's monthly statement or billing to the Funding Party) for the month of January 2006 and for each month during the term of this agreement thereafter until the Closure Cost has been paid in full.

More Definitions of Closure Fund

Closure Fund means funds to be used for actions to prevent or minimize the threat to public health and the environment posed by a closed facility including removing contaminated equipment, removing liners, applying final cover, grading and seeding final cover, installing monitoring devices, constructing ground water and surface water diversion structures, and installing gas control systems, as necessary.

Closure Fund means the fund established by that name pursuant to Section 9.01

Closure Fund has the meaning as ascribed to the term "Closure Fund" in the Operating Agreement;

Closure Fund or "Remediation Fund" means that fund for the remediation obligations of the Commission, the General Corporate Partner and/or the Limited Partnership, including any remediation obligations related to any landfill(s) owned or operated by the Commission, the Corporate General Partner and/or the Limited Partnership from time-to-time, which Landfill Closure Fund shall be held by the Landfill Closure Entity pursuant to the Landfill Closure Trust Deed;