Reserve and Contingency Fund definition

Reserve and Contingency Fund means the fund, if any, established pursuant to Section 20.
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Reserve and Contingency Fund means the Project Reserve and Contingency Fund created by Section 5.4.
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Reserve and Contingency Fund means the fund or funds created under the Project bond resolutions including the Rocky Reach Resolutions 1860 and 4198, and the Rock Island Resolutions 1137, 3443, 4950 and 97-10671, 97-10672 and any successor resolutions adopted. As long as bonds remain outstanding under such resolutions, deposit requirements into the appropriate Reserve and Contingency Fund may be made from the Capital Recovery Fund and/or the Debt Reduction Fund and from Purchaser’s payments made in respect of Financing Costs allocated to that purpose under Schedule A-1. Required and authorized uses of the Reserve and Contingency Funds shall be made in accordance with the appropriate Project bond resolution or, after the retirement of such bonds, for any other lawful Project purpose not inconsistent with the provisions of this Agreement.
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Examples of Reserve and Contingency Fund in a sentence

  • Any remaining balances in the Reserve and Contingency Fund, not required to meet any deficiencies in the Debt Service Fund or Debt Service Reserve Funds or not needed for any of the purposes for which such Fund was established, shall be transferred to the Operating Fund, and any remaining excess may be deposited in the Surplus Fund.

  • The second paragraph was revised to say, “All expenditures drawn from reserve accounts shall require prior approval from the president, unless previously authorized for expenditure within the college’s annual budget as approved by the Board of Trustees.”It was moved by Paul Chiles and seconded by Marie Gunn that:Motion 18:10 The Board of Trustees of Community College District VIII approves policy 7110 Reserve and Contingency Fund Policy as revised.

  • Amounts on deposit in the Reserve and Contingency Fund may be used to pay or provide reserves for unusual or extraordinary Operation and Maintenance Costs, renewals, repairs, replacements, additions or betterments of or to any items included in the Project, the cost of any Additional Facilities or the cost of or reserves for the retirement, decommissioning and termination of the Initial Facilities and any Additional Facilities that will not be paid from the Decommissioning Fund.

  • Tab 14 Reserve and Contingency Fund PolicyRachel Solemsaas presented a proposed policy regarding reserve and contingency funds.

  • The Bond Resolution allows for the creation and maintenance of the Rate Stabilization Account, the Reserve and Contingency Fund, and the Asset Retirement Obligation Fund, the use of which is restricted by Board resolution.

  • Among other things, the PSAs require each Project Participant to pay its pro rata share of MMWEC's costs related to the Project, which costs include debt service on the revenue bonds issued by MMWEC to finance the Project, plus 10% of MMWEC's debt service to be paid into a Reserve and Contingency Fund.

  • As the strategy plan puts it ‘Living with the water threat is in our genes’ (RCCAS, 2013).

  • Dennis Curran, Vice President of Administrative Services, presented revisions to Policy 7110: Reserve and Contingency Fund.

  • The actual operation, maintenance, repair, replacement, and Modification costs directly attributable to the operation of the Project for the Year, less sums drawn against the Reserve and Contingency Fund pursuant to Section 12.1.2, except any sum drawn against the Reserve and Contingency Fund for Debt Service.

  • The amount to be initially deposited to the Reserve and Contingency Fund pursuant to Section 12.1 and thereafter the amount currently required to be maintained in the Reserve and Contingency Fund pursuant to Section 12.1.3.


More Definitions of Reserve and Contingency Fund

Reserve and Contingency Fund means the fund, if any, established pursuant to Section 708.
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Related to Reserve and Contingency Fund

  • Contingency Reserve means a reserve established for the protection of policyholders covered by policies insuring munici- pal bonds against the effect of excessive losses occurring during adverse economic cycles.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).