Qualified Escrow Fund Principal or “QEF Principal” means the funds required by the applicable NPM Statute to be deposited and held for the benefit of one or more Beneficiary States in the QEF Account.
Qualified Escrow Fund Principal or “QEF Principal” means all funds deposited into a QEF Sub-Account. QEF Principal does not include: (i) Interest in the QEF Sub- Account, unless the Interest must be retained in the QEF Sub-Account and counted as QEF Principal under subdivision (D)(ii) of Section 4 of this Escrow Agreement; or (ii) any sums transferred in or out of QEF Sub-Account under the terms and conditions of a Return.
Qualified Escrow Fund Principal and “Qualified Escrow Principal” has the same meaning as in section 2.R of JUS-TOB6.
Examples of Qualified Escrow Fund Principal in a sentence
Pursuant to the terms and conditions in the Approved Tobacco Escrow Agreement that (NPM Name) executed on or about the Execution Date above, after making the deposit of Qualified Escrow Principal addressed by this certification, the Minimum Qualified Escrow Fund Principal On-Deposit for the benefit of California, as defined by at least Sections 2.H, 2.K, 2.R, 2.U of the Approved Tobacco Escrow Agreement, is now .
Introduction; grounds The Reserve Fund Statute authorizes the release of funds from escrow Qualified Escrow Fund Principal only under certain circumstances.