Operating Reserve Fund definition

Operating Reserve Fund means the fund to be established pursuant to the terms of the 2020 Bond Documents and held by the bond trustee for the Series 2020 Bonds.

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Operating Reserve Fund means the monies collected and accumulated to pay for any shortfall due to unplanned or unforeseen circumstances. Monies for this fund are collected within the event fee;

Operating Reserve Fund means the Operating Reserve Fund established by the Trustee pursuant to the Supplemental Indenture.

Examples of Operating Reserve Fund in a sentence

In the event that Superior fails to fully and timely pay its pro-rata share of Operating C&E under Section 6.3.1, the WGFP Enterprise may draw upon Superior’s portion of the Operating Reserve Fund or such other reserves as the Enterprise Board may establish and maintain in relation to Operating C&E pursuant to Section 6.1.2 to make up any deficiency as a result of the failure of Superior to make a payment required under Section 6.3.
Upon payment in full of the Governmental Note and upon payment of amounts payable to the United States of America pursuant to any rebate requirement and any other amounts owing hereunder and under the Borrower Loan Agreement, any amounts remaining in the Operating Reserve Fund shall be paid to the Borrower.
Upon receipt by the Fiscal Agent from the Borrower of a written request together with the written approval of the Servicer and the Tax Credit Investor, which approval shall not be unreasonably withheld or delayed, the Fiscal Agent shall disburse funds from the Operating Reserve Fund in accordance with such written request.
Interest earnings on amounts held in the Operating Reserve Fund shall be released not more frequently than annually to the Borrower upon its written request and with the prior written consent of the Servicer.
Funds shall be disbursed from the Operating Reserve Fund, at the written request of the Borrower, but only with the prior written consent of the Servicer and the Tax Credit Investor, to fund any operating deficits or expenses of the Borrower or for any other operating or capital needs of the Project.

More Definitions of Operating Reserve Fund

Operating Reserve Fund means – the funds collected within the Event Fee structure and accumulated to pay for any shortfall resulting from the association monthly gaming Expenses being greater than the Event Fees collected from the bingo licensees due to unplanned or unforeseen circumstances.

Operating Reserve Fund means the reserve fund established in Section 4.3.

Operating Reserve Fund means the fund of that name established pursuant to Section 5.01 of this Indenture.

Operating Reserve Fund means the reserve fund established in Section 5.3.

Operating Reserve Fund means the existing Operating Reserve Fund maintained for the Housing Development on the Closing Date.

Operating Reserve Fund means the Operating Reserve Fund established in Section 5.01.

Operating Reserve Fund means a reserve fund established to provide for the payment of Operating C&E if the moneys contained in the Operating Fund are insufficient to make such payments. The Operating Reserve Fund shall be maintained such that the amount of money in the fund shall equal the aggregate of two years of Operating C&E, as estimated by the WGFP Enterprise based on a five-year rolling average (except in the first five years of the Operating Reserve Fund’s existence, during which time the WGFP Enterprise will estimate based on available information) and taking into consideration the WGFP Enterprise’s reasonable expectations as to future Operating C&E.