Examples of Retained Funds in a sentence
Section 901.4.1 Retained Funds of the General Provisions of these specifications is hereby revised, decreasing the amount of retained funds from ten percent (10%) to five percent (5%).
Subject to Section 413 hereof, but notwithstanding any other provision herein, any sums transferred from the Construction Fund as Retained Funds shall be credited and be applied by the Issuer in accordance with the applicable requirements of the Agreement.
Pursuant to the Motion, the Debtors have requested the use of cash collateral (as that term is defined in section 363(a) of the Bankruptcy Code) (“Cash Collateral”) excluding the Retained Funds (as defined and provided for below), andthe Court is prepared to authorize such use of such Cash Collateral upon the admissions, agreements, terms and conditions in this Order, and certain findings of fact and conclusions of law in support of this Order.
Retained Funds: These have been established in order to finance recurring irregular expenditure for a specific purpose.
Any prepayment by the Tenant of Basic Rent as provided in Section 7.02 of the Agreement shall be deposited in a separate subaccount of the Common Reserve Account for Retained Funds and credited and applied as provided in such Section 7.02 of the Agreement.Section 408.