Master Program Trust Account definition

Master Program Trust Account means the account and all subaccounts therein created pursuant to Section 3 of the Master Program Trust Agreement to be held by the Master Program Trustee in trust as additional security for the Holders of the Series 2016A-1 Bonds and all other Coverage Receiving Trust Bonds as defined in the Master Program Trust Agreement.
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Master Program Trust Account means that certain “Master Program Trust Account” established under the MPTA with respect to all outstanding Coverage Receiving Financing Programs and Coverage Providing Financing Programs.
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Master Program Trust Account means the account to be held by the Master Program Trustee, in trust as additional security for the Holders of Coverage Receiving Trust Bonds.
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Examples of Master Program Trust Account in a sentence

  • The Master Program Trustee holds all moneys, and securities purchased with moneys, deposited in the Master Program Trust Account in trust for the benefit of all holders of Coverage Receiving Bonds.

  • Thereupon, the Master Program Trustee shall pay every such Trustee that has issued a Notice, from funds on deposit in the Master Program Trust Account (and all subaccounts therein), an amount sufficient to satisfy all such deficiencies.

  • This holdback allows the Master Program Trustee to keep as the minimum balance (assuming all scheduled Loans are timely and completely paid) in the Master Program Trust Account the entire prior year’s Fund Loan repayments from all Coverage Providing Financing Programs, thereby providing additional security for all Coverage Receiving Bonds on each March 1 and September 1.

  • Thereafter, and if not needed to pay debt service on any such series of Coverage Receiving Bonds, the moneys deposited in the Master Program Trust Account will be returned to the State.

  • The Master Program Trustee will make the moneys deposited in the Master Program Trust Account (and all subaccounts therein) available on the immediately succeeding March 1 and September 1 to pay debt service on Coverage Receiving Bonds.

  • In addition, the Trust has the right, but not the obligation, to make an equity contribution into subaccounts of the Master Program Trust Account to secure the Coverage Receiving Bonds further.

  • If the Master Program Trustee receives Notices citing deficiencies in excess of the total amount on deposit in the Master Program Trust Account, the Master Program Trustee shall pay out all available moneys to each adversely affected Trustee in proportion to the amount of their respective deficiencies.

  • One Business Day after the remaining Fund Loan repayments are made available from the Master Program Trust Account to satisfy debt service deficiencies, moneys not actually needed on any such March 1 or September 1 are retained in a subaccount of the Master Program Trust Account to be made available for the same purpose on the immediately following semiannual debt service payment date.

  • The Master Program Trustee holds all moneys, and securities purchased with moneys, deposited in the Master Program Trust Account in trust for the benefit of all holders of the Coverage Receiving Bonds.

  • Notwithstanding the foregoing, the Trust may issue future series of bonds, notes or other evidences of indebtedness that have an interest in the Master Program Trust Account to the extent set forth in the Master Program Trust Agreement.


More Definitions of Master Program Trust Account

Master Program Trust Account means that certain "Master Program Trust Account" (and the accounts and subaccounts therein) established under the MPTA.
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Related to Master Program Trust Account

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.