Facility Funds definition

Facility Funds mean the moneys provided by IBank to the Purchaser, as agent for IBank, pursuant to this Agreement to purchase and/or construct the Facility as set forth in Section 2.06.
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Facility Funds mean the moneys provided by IBank for the purchase of the Series 2019 Bonds, the proceeds of which will be used to develop, design, and/or construct the Facility.
Sample 1
Facility Funds shall have the meaning assigned to such term in Section 7.10(a)(11).
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Examples of Facility Funds in a sentence

  • This Permit is subject and subordinate to the Provisions of any agreements heretofore made between City and the United States government or government authority, relative to the operation or maintenance of the Airport, the execution of which has been or will be required as a condition precedent to the granting of federal funds or the approval to impose or use Passenger Facility Funds (“PFCs”) for the improvement or development of the Airport.

  • Owner shall pay directly (or reimburse Manager promptly if Manager advances funds for) any Owner Expenditures not paid from Facility Funds.

  • Manager is authorized to pay all Owner Expenditures from Facility Funds.

  • Under the Financing Lease agreement, the Facility Funds were used to pay the convention center building (the “Leased Asset”) improvement costs.

  • Manager shall cause all taxes, assessments, and charges of every kind imposed upon the Facility by any governmental authority, including interest and penalties thereon (collectively, "Taxes"), to be paid when due from Facility Funds (as defined in Section 3.10 below), subject to the terms of the Lease, and in accordance with the Budget (as defined in Section 3.17 hereof) and in the order of priority set forth in Section 3.10 below.

  • Such expenses shall be immediately reimbursable to Manager out of Facility Funds in the priority set forth in Section 3.10 hereof.

  • Without limiting the generality of the foregoing, within thirty (30) days after the effective date of termination of this Agreement, Owner shall be obligated to pay to Manager all accrued and unpaid Base Management Fees, a pro-rata portion of the Incentive Management Fees, and reimbursable expenses of Manager, together with all accrued and unpaid interest thereon, notwithstanding that available Facility Funds may not be sufficient for such purposes.

  • Notwithstanding anything to the contrary in this Agreement, Manager shall have no obligation whatsoever to make any advance to or for the account of Owner, or to pay any amount contemplated for, or required of, Manager under this Agreement, or to incur any expenditure obligation--whether ordinary or capital--except to the extent that funds are available for such purpose (in Manager's reasonable judgment), either from working capital or capital funds provided by Owner or otherwise from the Facility Funds.

  • Owner agrees that all fees and costs of outside professionals in conducting and concluding such negotiations shall be paid by Owner out of Facility Funds.

  • Such management fee (the "Base Management Fee") shall be payable from Facility Funds monthly upon delivery to Owner of the monthly financial statement referred to in Section 3.12 (each such date being hereinafter referred to as a "Payment Date") and shall be calculated based upon the Facility's Gross Revenues during the preceding month as set forth in such financial statements.


More Definitions of Facility Funds

Facility Funds means the "Facility Funds," as defined in the Management Agreement.
Sample 1
Facility Funds means all of each Xxxx County Parties' right, title and interest in or to all cash, bank accounts, savings and loan accounts, certificates of deposit, money market accounts, treasury bills, investments (whether debt or debt equity and whether liquid or nonliquid) and reserves owned or held by any Xxxx County Party in connection with Facility Operations.
Sample 1

Related to Facility Funds

  • Activity funds means all funds received by school officials

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Facility Account means the account numbered 0000000 maintained by Seller in the name of “PDC Funding Company, LLC” at JPMorgan, together with any successor account or sub-account.

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Commitment Percentage means, as to any Lender at any time, the ratio of (a) the amount of the Commitment of such Lender to (b) the Aggregate Commitment of all of the Lenders.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Revolver means a short firearm having a cylinder of several chambers that are brought successively into line with the barrel to be discharged, designed to be aimed and fired by the use of a single hand.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • LC Facility means the letter of credit facility established pursuant to Article III.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.