Sinking Account definition

Sinking Account means the account by that name established and held by the Trustee pursuant to Section 4.03(c).

Sinking Account means an account by that name established in the Principal Fund pursuant to Section 5.04 for the payment of Term Bonds.

Sinking Account means the account by that name established in the Bond Fund pursuant to Section 5.02.

Examples of Sinking Account in a sentence

• Moneys in the Debt Service Fund, the Interest Account, the Principal Account, the Sinking Account, the Reserve Account and the Costs of Issuance Account shall be invested by the Trustee in Permitted Investments as directed by the Successor Agency in the Written Request of the Successor Agency filed with the Trustee at least two (2) Business Days in advance of the making of such investments.

• All moneys on deposit in the Sinking Account shall be used and withdrawn by the Trustee for the sole purpose of paying the principal of the Term Bonds as it shall become due and payable upon redemption or purchase pursuant to Section 2.03(b).

• All moneys in the Redemption Account shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of and premium, if any, on the Bonds to be redeemed pursuant to Section 2.03(a) on the date set for such redemption, other than mandatory Sinking Account redemption of Term Bonds.

• On or before the Business Day preceding any date on which Bonds are to be redeemed pursuant to Section 2.03(a), other than mandatory Sinking Account redemption of Term Bonds, the Trustee shall withdraw from the Debt Service Fund any amount transferred by the Successor Agency pursuant to Section 2.03(a) for deposit in the Redemption Account, such amount being the amount required to pay the principal of and premium, if any, on the Bonds to be redeemed on such date pursuant to Section 2.03(a).

• The Term Bonds maturing on September 1, 20 shall be called before maturity and redeemed, from the Sinking Payments that have been deposited into the Sinking Account, on September 1, 20 and on each September 1 thereafter prior to maturity, in accordance with the schedule of Sinking Payments set forth below.

More Definitions of Sinking Account

Sinking Account means an account by that name established in the Principal Fund pursuant to Section 5.04 of the Indenture.

Sinking Account means, 2015A Sinking Account or the 2015B Sinking Account, as context requires, created in the Revenue Fund held by the Trustee pursuant to Section 4.3.

Sinking Account means the account by that name established and held by the Trustee pursuant to the Indenture.

Sinking Account means the account by that name established and held by the Trustee under the Trust Agreement.

Sinking Account means an account within the Principal Fund established pursuant to a Supplemental Indenture for the redemption of Term Bonds.

Sinking Account means the account by that name established in the Revenue Fund pur- suant to Section 5.02.

Sinking Account means the account by that name established and held by the Trustee under Section 4.03.