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 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.

Examples of Program Account in a sentence

• After a lender has enrolled an eligible loan in the program, CPCFA shall approve the transfer of funds from the CARB Program Account to a lender’s CARB loan loss reserve account to cover the eligible premiums.

• If your IAR Managed Program Account has insufficient cash to cover the Fee or other debits in your Account, a margin debit that incurs interest at the margin rate disclosed will result.

• As detailed in Exhibit A., I.3. (Trustee Account Reporting) in order to reconcile expenditures by the end of the Interagency Agreement term, CPCFA shall provide CARB a report on unused funds, including interest, in the CARB Program Account and in the CARB Cost Account maintained by the Trustee three (3) months prior to the end of this Interagency Agreement.

• So long as no Event of Default shall occur, the Trustee shall disburse moneys from the Program Account in accordance with Section 6.2 of the Indenture upon receipt by the Trustee of a requisition substantially in the form of Exhibit “C” attached hereto signed by an Authorized Officer of the Governmental Unit.

• In addition, no amounts disbursed from the Program Account and used to finance the Project shall be used in the trade or business of a person who is not a “governmental unit” within the meaning of Sections 103 and 141(b)(6) of the Code.

More Definitions of Program Account

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).]

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

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

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

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

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

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