Rent Payment Fund definition

Rent Payment Fund means the fund or funds by that name established by Lessee pursuant to Section 4.4(c) of this Lease.
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Rent Payment Fund means the fund or funds by that name established and held by the Trustee pursuant to Article V of the Trust Indenture.
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Rent Payment Fund means the fund or funds by that name established by ▇▇▇▇▇▇ into which money received from the voter approved tax levy pursuant to NMSA, 1978, Section 22-25-1 et seq. and other legally available money of the Lessee will be deposited to pay Rent Payments..
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Examples of Rent Payment Fund in a sentence

  • It shall be the duty of the Board of Education annually at the time and in the manner provided by law for levying other taxes, if such action shall be necessary, to effectuate the provisions hereof with reference to the levy and collection of taxes; and the Board of Education shall require the officers of and for Lessee to levy, extend, and collect such taxes in the manner provided by law for the purpose of funding the Rent Payment Fund for the payment of the Rent Payments.

  • The Lessee hereby covenants to establish and maintain with respect to the Lease, a special interest and sinking fund to be denoted the "Rent Payment Fund", established pursuant to Section 5.02 of the Indenture, solely for the benefit of such Lease with the Trustee.

  • After paying all costs and expenses associated with the acquisition of the Property, other than required Rent Payments, Lessee shall cause to be transferred to the Rent Payment Fund all excess moneys remaining in the Acquisition Fund maintained by Lessee (other than any moneys, if any, retained therein to pay Acquisition Costs not then due and payable) to be applied to pay any portion of Rent Payments thereafter coming due.

  • Upon the failure of the Local Agency to make any Agency Rent Payment at such time and in such amount as required pursuant to this Local Agency Financing Lease, the State shall, to the extent of legally available appropriated funds and subject to any Executive Order reduction, make such payment into the Agency Rent Payment Fund (established under the Master Financing Lease) on behalf of such Local Agency within 15 Business Days after such Agency Rent Payment Date.

  • As a result of such prepayment, the Lessor shall instruct the Trustee in writing to credit all amounts then on deposit in a Rent Payment Fund or an Acquisition Fund towards the amounts then required to be so prepaid and if any amounts remain on deposit in such funds after prepayment or defeasance of all Rent Payments and other amounts required to be paid by the Lessee hereunder, the Lessor shall direct the Trustee in writing to pay over such residuals to the Lessee.

  • The Trustee will establish a special fund designated as the "Rent Payment Fund" for the Certificates.

  • Any amount held in the Rent Payment Fund on any date when a Rent Payment is required to be made shall be credited towards the Rent Payment then due and payable; and no Rent Payment need be made by the Lessee into the Rent Payment Fund on any such date if the amounts then held in the Rent Payment Fund are at least equal to the Rent Payment then required to be paid.

  • Any amount held in the Rent Payment Fund on any date when a Rent Payment is required to be made shall be credited towards the Rent Payment then due and payable; and no Rent Payment need be made by Lessee into the Rent Payment Fund on any such date if the amounts then held in the Rent Payment Fund are at least equal to the Rent Payment then required to be paid.

  • In order to facilitate compliance with the above subsections (h) and (i), a "Rebate Fund" shall be established within the Rent Payment Fund by Lessee for the sole benefit of the United States of America, and such fund shall not be subject to the claim of any other person, including without limitation Lessor.

  • All amounts received by the Lessor under this Article VIII shall be transferred to the Trustee promptly upon receipt thereof for deposit in the Rent Payment Fund relating to a breach hereof and credit such amounts towards Rent Payments in order of payment date and to payment of any additional rent owing to the Trustee pursuant to Section 4.7.


More Definitions of Rent Payment Fund

Rent Payment Fund means the fund by that name established and held by the Trustee pursuant to Article V hereof.
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Rent Payment Fund means the special fund established by Lessee for the deposit of budgeted funds equal to the Guaranteed Cost Savings from the acquisition, installation and performance of the Equipment and such other authorized revenues as are permitted by the Act and pledged for Rental Payments, subject to Sections 6 through 8 and Section 10.
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Related to Rent Payment Fund

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Payment Fund has the meaning set forth in Section 2.02(a).