Finance Authority Debt Service Account definition

Finance Authority Debt Service Account means the debt service account in the name of the Governmental Unit established under the Indenture and held by the Finance Authority to pay principal and interest, if any, on the Loan Agreement as the same become due.
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Finance Authority Debt Service Account means the debt service account established in the name of the Governmental Unit within the Debt Service Fund, as defined in the Indenture, held and administered by the Finance Authority to pay principal and interest, if any, on this Loan Agreement as the same become due.
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Finance Authority Debt Service Account means the debt service account in the
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Examples of Finance Authority Debt Service Account in a sentence

  • All Pledged Revenues received by the Finance Authority pursuant to this Section 5.2 shall be accounted for and maintained on an ongoing basis by the Finance Authority in the Finance Authority Debt Service Account and all Loan Agreement Payments shall be remitted to the Trustee.

  • The amounts on deposit in the Finance Authority Debt Service Account and Loan Agreement Reserve Account shall be expended and used by the Finance Authority or the Trustee, as the case may be, only in the manner and order of priority specified below.

  • As soon as practicable, and, in any event, not more than sixty (60) days from the Completion Date, any balance remaining in the Program Account shall be transferred and deposited into the Finance Authority Debt Service Account, as provided in the Loan Agreement and the Indenture.

  • Upon written notice to the Distributing State Agency from the Finance Authority, the amount of the Pledged Revenues to be paid to the Finance Authority shall be increased from the amounts shown on Exhibit “A” to defray any delinquencies in the Finance Authority Debt Service Account or Loan Agreement Reserve Account, if any, established for the Governmental Unit.

  • Money on deposit in the Finance Authority Debt Service Account established by the Finance Authority for the Governmental Unit may be invested by the Finance Authority in Permitted Investments at the discretion of the Finance Authority.

  • As soon as practicable after the Completion Date, and, in any event, not more than sixty (60) days from the Completion Date, any balance remaining in the Program Account shall be transferred and deposited into the Finance Authority Debt Service Account, as provided in the Loan Agreement and the Indenture.

  • The Finance Authority Debt Service Account was established and is held by the Finance Authority and the Loan Agreement Reserve Account was established and held by the Trustee, each on behalf of the Governmental Unit.

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  • Pursuant to the Intercept Agreement, Pledged Revenues shall be paid directly by the Distributing State Agency to the Finance Authority for deposit in the Finance Authority Debt Service Account and remittance to the Trustee in an amount sufficient to pay the principal and interest due under the Loan Agreement.

  • The Governmental Unit hereby consents to creation of the Finance Authority Debt Service Account to be held by the Finance Authority and to the Program Account to be held by the Trustee pursuant to the Indenture, each in connection with the Loan.


More Definitions of Finance Authority Debt Service Account

Finance Authority Debt Service Account means the debt service account in the name of the Governmental Unit established under the Indenture and held by the Finance Authority to pay each Principal Component and Interest Component of the Bonds as the same become due.
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Related to Finance Authority Debt Service Account

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Finance Charge Account is defined in Section 4.9(a).

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

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

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Concentration Account has the meaning provided in Section 6.13(c).

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

  • Collection Accounts As defined in Section 3.10(a).

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.