Qualified Funds definition
Examples of Qualified Funds in a sentence
The Qualified Funds are established for the exclusive purpose of providing funds for the decommissioning of the Plants.
The assets in the Qualified Funds shall be used as authorized by Section 468A of the Code and regulations thereunder.
None of the assets of the Qualified Funds shall be subject to attachment, garnishment, execution or levy in any manner for the benefit of creditors of ZionSolutions or any other party.
The Authority does not make any warranty, either express or implied, that the Qualified Funds will be sufficient to pay either all of the Project Costs or all of the Qualified Project Costs.
The Issuer disclaims any interest in any trade fixtures or equipment installed at Leased Land that neither are paid for with Qualified Funds nor constitute Additions, Alterations, replacements or substitutions for Leased Equipment that was paid for with Qualified Funds.
Notwithstanding anything herein to the contrary, any investment authorization with respect to the Qualified Funds shall at all times be limited to investments permitted under Code Section 468A and the regulations thereunder.
In all cases, distributions of any Excess Contributions shall not be made unless, in the opinion of legal counsel to the Company, such distribution will not lead to disqualification of the Qualified Fund(s) from the application of section 468A of the Code and that such distribution will not constitute a violation of any Order.
The various components of the Project shall become a part of the Project and title therein shall vest in the Issuer at such time as Qualified Funds are used to pay, or to reimburse the Company for, the cost thereof.
In the case of liens relating Project Costs that constitute Qualified Project Costs, but which are not attributable to the Company’s fault, negligence or directed change order, then, the same shall be paid from Qualified Funds and to the extent that Qualified Funds are not available to contest such liens, such contest costs shall constitute Authority’s Project Costs and shall be paid by the Authority.
The exclusive purposes of this Master Trust are to hold funds for the contemplated decommissioning of the Plants, to constitute qualified and nonqualified Nuclear Decommissioning Reserve Funds for the Plants (the Qualified Funds being established pursuant to Section 468A of the Code, any applicable successor provisions and the regulations thereunder) and to comply with any Order.