Examples of Defeasance Escrow Fund in a sentence
On the date of execution and delivery of this Agreement, the Trustee shall apply so much of the sums deposited in the 2020-1 Defeasance Escrow Fund pursuant to Section 2 hereof as shall be necessary to purchase the Defeasance Obligations (as defined in the Bond Resolution) identified in Exhibit B hereto, with a cash balance of $3.79 (such Defeasance Obligations and cash collectively referred to as the “Defeasance Escrow Fund Investments”).
There shall be paid, or deposited into the Defeasance Escrow Fund, the amount necessary to defease the Series 2013A Bonds (the “Defeasance Amount”).
The Trustee shall hold all Defeasance Escrow Fund Investments, whether purchased or transferred, in the 2020-1 Defeasance Escrow Fund and shall apply the Defeasance Escrow Fund Investments and the proceeds thereof only for the purposes and in the manner provided in this Agreement.
The Escrow Agent hereby creates on its books a special trust and irrevocable escrow fund to be known as City of Arlington, Texas, Cowboys Complex Bond Defeasance Escrow Fund No.1 (the “Escrow Fund”) for the purpose of paying the principal of and interest on the Defeased Bonds, as described in Exhibit A, in order to make firm banking arrangements therefor.
The Defeasance Escrow Agreement creates and establishes with the Defeasance Escrow Agent the Defeasance Escrow Fund, which shall be a special and irrevocable separate trust fund to be held in the custody of the Defeasance Escrow Agent.
There may be deposited into the Series 2021B Redemption Account: (i) any moneys paid to the Trustee pursuant to Sections 3.01 or 3.03 hereof; (ii) amounts transferred from a Defeasance Escrow Fund, and (iii) all other moneys received by the Trustee that are accompanied by directions that such moneys are to be deposited into such Account.
The Trustee shall hold all Defeasance Escrow Fund Investments, whether purchased or transferred, in the 2020-2 Defeasance Escrow Fund and shall apply the Defeasance Escrow Fund Investments and the proceeds thereof only for the purposes and in the manner provided in this Agreement.
The Series 2017 Debt Service Fund and any other Fund or Account created hereunder (excluding any Defeasance Escrow Fund or the Series 2017 Rebate Fund), shall be held by the Trustee, for the benefit of the Owners of the Series 2017 Bonds as specified in this Indenture.
The Series 2021A Debt Service Fund and the Series 2021B Debt Service Fund and any other Fund or Account created hereunder (excluding any Defeasance Escrow Fund), shall be held by the Trustee, for the benefit of the Owners of the Series 2021A Bonds and the Series 2021B Bonds, respectively, as specified in this First Supplemental Indenture.
Attached to the Verification Report as Exhibit A thereto is a projection of the amounts expected to be available in the 2018-2 Defeasance Escrow Fund to pay the Defeased Bonds.