Proceeds Agreement definition
Examples of Proceeds Agreement in a sentence
The proceeds of the Local School Bonds shall be invested in accordance with the Information Statement, this Proceeds Agreement and the Related Tax Agreements.
Although the Local School Bond of a Locality may qualify for the Small Issuer Exception, custody, investment and disbursement of the proceeds of the VPSA Bonds applied to the purchase of the Locality's Local School Bond shall continue under the Proceeds Agreement, and the Investment Manager shall continue to provide an Investment Report for such Locality.
In addition to the words and terms defined in the Proceeds Agreement to which this Letter Agreement is attached as Exhibit C, the following words and terms shall have the following meanings: "Bond Resolution" shall mean the resolution of the Authority adopted on October 23, 1997, as last amended and restated on September 20, 2012, and as supplemented.
In particular, the Investment Manager will direct the investment and reinvestment of moneys to the credit of the Subaccounts of each Locality in accordance with the Information Statement, the Contract and this Proceeds Agreement.
All covenants, stipulations, obligations and agreements of VPSA contained in this Proceeds Agreement shall be deemed to be covenants, stipulations, obligations and agreements of VPSA to the full extent authorized by the laws and permitted by the Constitution of Virginia.