Program Account definition

Program Account means the account in the name of the Governmental Unit established pursuant to the Indenture and held by the Trustee for the deposit of the net proceeds of the Loan Agreement for disbursal to the Governmental Unit for payment of the costs of the Project.

Program Account means a budget account that receives and obligates appropriations to cover the subsidy cost of a direct loan or loan guarantee and disburses the subsidy cost to the financing account. Program accounts usually receive a separate appropriation for administrative expenses.

Program Account means a separate account maintained for each participant reflecting applicable contributions, applicable forfeitures, investment income or loss as well as administrative and investment expenses allocated to each participant and distributions paid from the account.[PL 2015, c. 352, §1 (NEW).]

Examples of Program Account in a sentence

• The following load, withdrawal, and purchasing limits will apply for use of your Account:Please note: If a VIP level is made available within the Program, Account holders may be eligible for VIP status at the sole and absolute discretion of Sightline.

• The funds necessary to satisfy debits in your securities account will be drawn from your account in the following order: (i) free credit balances in your brokerage account (if any); (ii) balances in your money fund (if any); and (iii) amounts in The Program Account.

• Investment earnings on amounts on deposit in the Distribution Account will be paid to the Owner upon the withdrawal of all amounts on deposit in such Distribution Account, subject to the Program Account Institution’s right to deduct the Post Maturity Fee pursuant to Section 6.01.

• Each Conditional Agree- ment shall contain a provision that the Program Account or Grant Account shall be funded in advance of execution of the Standby Support Contract and in the following manner, subject to the conditions of paragraphs (d) and (e) of this section.

• During each year after the maturity year in which the Distribution Account is open, MEFA reserves the right to assess a Post Maturity Fee, which fee, if assessed, shall be payable by the Owner and, if not paid on a timely basis, may be deducted by MEFA, or in the case of a Distribution Account held directly in the Owner’s name, by the Program Account Institution, from investment earnings payable tothe Owner as described in Section 6.02 of the Enrollment Agreement.

More Definitions of Program Account

Program Account means the account in the name of the Governmental Unit established pursuant to the Indenture and held by the Trustee for the deposit of the net proceeds of this Loan Agreement for disbursal to the Governmental Unit for payment of the costs of the Project.

Program Account means the account we establish in your name for recording points for the purposes of these terms and conditions.

Program Account means such account identified by Administrative Agent in writing.

Program Account means the account by that name established by Section 301 of the Master Trust Indenture.

Program Account means the account set forth in Section 9 hereof.

Program Account means an individual account opened in accordance with the program.

Program Account means an individual participating trust account established pursuant to the program.