Examples of Payment Subaccount in a sentence
In addition, prior to the allocation of any investment income pursuant to subparagraph 3.2.3, the Trustee shall deduct an amount equal to the estimated taxes owed on such earnings and deposit that sum into the Tax Payment Subaccount.
Prior to the Maturity Date, moneys in the District’s Payment Account and/or Payment Subaccount shall not be used to make such payments.
The amounts in this Tax Payment Subaccount shall be used for the express purpose of paying all applicable taxes with respect to the State Trust in a manner consistent with Paragraph 6.7. If at any time the funds on deposit in this Tax Payment Subaccount are insufficient to pay all Taxes then due and owing, the Trustee shall seek to resolve any dispute pursuant to the dispute resolution procedures of Paragraph 6.2.
The amounts in this Tax Payment Subaccount shall be used for the express purpose of paying all applicable taxes with respect to the Indian Tribe Mitigation Trust in a manner consistent with Paragraph 6.7. If at any time the funds on deposit in this Tax Payment Subaccount are insufficient to pay all Taxes then due and owing, the Trustee shall seek to resolve any dispute pursuant to the dispute resolution procedures of Paragraph 6.2.
Within the School Facilities Account, a Project Subaccount and an Incremental Payment Subaccount were created.
Prior to the Maturity Date, moneys in the Local Agency’s Payment Account and/or Payment Subaccount shall not be used to make such payments.
If money in the Collection Fund on a Payment Date is not sufficient to pay all amounts described in the second preceding sentence that are then due and payable, the Paying Agent shall disburse funds in the Rental Payment Subaccount to Lessor to pay such amounts as directed by Lessor.
The Lessor shall have exclusive control over transfers, withdrawals, and other dispositions of funds from the Collection Fund and the Rental Payment Subaccount (but not the Administrative Fee Subaccount, the Annual Maintenance Subaccount or the Re-lamping Reserve Subaccount) pursuant to the terms and conditions of the Lease and the Related Agreements.
The Note Payment Account shall contain an Interest Payment Sub-account and a Principal Payment Sub-account and is to be maintained at the Bank for the payment of the Commercial Paper Notes and the repayment of "Advances" and "Loans" due under the Credit Agreement.
If money in the Collection Fund on a Payment Date is sufficient to pay all amounts described in the preceding sentence that are then due and payable, the Paying Agent shalldisburse funds in the Rental Payment Subaccount to the Lessor as and when due to Lessor pursuant to Annex I hereto, the Lease and the Related Agreement.