Purchase Account definition
Examples of Purchase Account in a sentence
Amounts held in the Liquidity Facility Purchase Account and the Remarketing Proceeds Account by the Tender Agent shall be held uninvested and separate and apart from all other funds and accounts.
Money in each of the Remarketing Proceeds Account and the Liquidity Facility Purchase Account of the Purchase Fund shall be applied by the Tender Agent by 3:00 p.m., New York City time, on each Purchase Date or Mandatory Purchase Date to purchase Bonds tendered to the Tender Agent at the Purchase Price in accordance with Appendix A of the Ordinance.
Upon receipt by the Tender Agent of immediately available funds to pay the Purchase Price of Bonds pursuant to Section A-411 of the Ordinance, the Tender Agent shall deposit such money in the Liquidity Facility Purchase Account for application to the Purchase Price of the Bonds to the extent that the moneys on deposit in the Remarketing Proceeds Account shall not be sufficient.
Any amounts deposited in the Liquidity Facility Purchase Account and not needed with respect to the Purchase Price for any Bonds of such subseries shall be immediately returned to the order of the applicable Liquidity Facility Issuer.
Money in the Remarketing Proceeds Account and Liquidity Facility Purchase Account of the Purchase Fund shall be applied by the Tender Agent by 3:30 p.m. New York City time on each Purchase Date to purchase Bonds tendered to the Tender Agent at the Purchase Price in accordance with Part 4.9 of Appendix A of the Ordinance.