General Reserve Fund definition

General Reserve Fund means the fund by that name established by Section 506 of the General Resolution.

General Reserve Fund shall have the meaning assigned to such term in the Mortgage Loan Agreement or such comparable fund as shall be established under this Agreement in accordance with Section 7.6 hereof.

General Reserve Fund means the fund established on the Closing Date, which will be credited with the General Reserve Fund Required Amount from part of the proceeds of the Noteholders' subscription for the Class S Notes on the Closing Date;

Examples of General Reserve Fund in a sentence

• Balances in the General Reserve Fund are available to pay PTC subordinate debt, optionally redeem bonds, fund capital improvements or be applied for any other authorized Commission purposes.

• Remaining amounts are paid into the Reserve Maintenance Fund equal to the amount required for the following month defined in the Commission’s annual capital budget, into the Senior Revenue Bond Debt Service Reserve Fund to restore a deficiency, if any, within 18 months, with the remaining surplus deposited into the General Reserve Fund.

• Amounts on deposit in the General Reserve Fund are first applied toward payments to meet administrative expenses.

• The Pennsylvania Turnpike Commission will budget and maintain a cumulative fund balance, including cash balances in the Reserve Maintenance Fund and the General Reserve Fund, equal to the greater of either the maximum annual debt service on all bonds not secured by a Debt Service Reserve Fund or 10% of annual budgeted revenues.

• The General Reserve Fund will be deposited in the GIC Account (with a corresponding credit recorded to the General Reserve Ledger).

More Definitions of General Reserve Fund

General Reserve Fund means the general reserve fund of the

General Reserve Fund has the meaning given to it in the Administration Agreement.

General Reserve Fund has the meaning given to it in the Administration Agreement;

General Reserve Fund means the general reserve fund of the Bank continued and maintained under paragraph 10 of the First Schedule;

General Reserve Fund means the general reserve funds established under the Master Indenture.

General Reserve Fund shall have the meaning set forth in Section 7.6.1 hereof.

General Reserve Fund means any reserve fund established by a society out of profits and not set aside for any specific purpose;