Earnings Fund definition
Examples of Earnings Fund in a sentence
Any moneys held as part of the Rebate Fund, the Earnings Fund, the Project Fund, the Bond Fund or the Renewal Fund or in any special fund provided for in this Agreement or in the Indenture to be invested in the same manner as in any said Fund shall, at the written request of an Authorized Representative of the Lessee, be invested and reinvested by the Trustee as provided in the Indenture (but subject to the provisions of the Tax Certificate).
Recovery Fund 43 Section 3.13 Interest Earnings Fund 43 Section 3.14.
Accordingly the Bondholders do not have any reasonable assurance that moneys in the Replacement Reserve Fund, the Expense Fund, the Revenue Fund and the Retained Earnings Fund under the Indenture will be available to pay debt service on the Bonds if the Borrower encountered financial difficulty and the amounts in such funds and accounts are not treated as Gross Proceeds of the Bonds.
Any moneys held as part of the Rebate Fund, the Earnings Fund, the Project Fund, the Bond Fund, the Additional Interest Deposit Fund or the Renewal Fund or in any special fund provided for in this Agreement or in the Indenture to be invested in the same manner as in any said Fund shall, at the written request of an Authorized Representative of the Company, be invested and reinvested by the Trustee as provided in the Indenture (but subject to the provisions of the Tax Regulatory Agreement).
Any moneys held as part of the Rebate Fund, the Earnings Fund, the Project Fund, the Bond Fund, or the Renewal Fund or in any special fund provided for in this Agreement or in the Indenture shall, at the written request of an Authorized Representative of the Institution, be invested and reinvested by the Trustee as provided in the Indenture (but subject to the provisions of the Tax Compliance Agreement).
In making any disbursement from the Earnings Fund or the Construction Fund pursuant to Subsection 3.3(b) hereof, the Trustee may rely on any Funding Requisition delivered to it pursuant to this Section, and shall be relieved of any liability with respect to the disbursement of funds pursuant to any such Funding Requisition.
Pursuant to the terms of, and on the conditions set forth in the Indenture, the Authority has authorized and directed the Trustee to disburse amounts in the General Earnings Account and the Excess Earnings Account of the Earnings Fund and amounts in the Construction Fund for the payment of Project Costs or to reimburse the Company for any Project Costs incurred by it.
Interest earnings on amounts invested in the Repayment Fund will be withdrawn by the Trustee on each Transfer Date and transferred to the Interest Earnings Fund.
It is agreed by the parties hereto that any amounts remaining in the Bond Fund, upon performance of this Agreement by the Company, including payment of all amounts due under the Financing Documents and payment in full of the Bonds in accordance with this Agreement, shall (to the extent such amounts are not required to be deposited in the Excess Earnings Fund) belong to and be paid to the Company by the Trustee upon demand by the Company, as overpayment upon the purchase price of the Project.
In particular, unexpended Bond proceeds transferred from the Project Fund (or from the Earnings Fund with respect to amounts deposited therein from the Project Fund) to the Redemption Account of the Bond Fund pursuant to Section 5.02(f) may not be invested at a Yield which is greater than the Yield on the applicable Series of Bonds.