Sinking Account Payment Date definition
Examples of Sinking Account Payment Date in a sentence
The Trustee, on each Principal Payment Date and each Mandatory Sinking Account Payment Date, shall deposit in the Principal Fund that amount of moneys representing the portion of the Base Rental Payments designated as principal components coming due on such Principal Payment Date or Mandatory Sinking Account Payment Date.
Mandatory Sinking Account Payment Date (October 1) Mandatory Sinking Account Payments * Maturity Date.
Mandatory Sinking Account Payment Date (June 1) Mandatory Sinking Account Payments *Maturity If the 2015 Series A Term Bonds are optionally redeemed in part, the Authority may designate the Mandatory Sinking Account Payments to be allocated to such optional redemption.
Mandatory Sinking Account Payment Date (June 1) Mandatory Sinking Account Payments *Maturity If the 2015 Series B Term Bonds are optionally redeemed in part, the Authority may designate the Mandatory Sinking Account Payments to be allocated to such optional redemption.
The Trustee, on each Principal Payment Date and Mandatory Sinking Account Payment Date, shall deposit in each account within the Principal Fund that amount of moneys evidencing the portion of the Base Rental Payments designated as the principal component coming due on such Principal Payment Date or Mandatory Sinking Account Payment Date with respect to the corresponding Series of Certificates.
On each Principal Payment Date and each Mandatory Sinking Account Payment Date, the Trustee shall withdraw from the Principal Fund, for payment to the Owners, the principal evidenced by the Certificates due and payable on such Principal Payment Date or upon earlier prepayment from Mandatory Sinking Account Payments.
Any funds remaining in the Policy Payments Account following a Principal Payment Date, Mandatory Sinking Account Payment Date or Interest Payment Date shall promptly be remitted to the Insurer.
The Trustee, on each Principal Payment Date and Mandatory Sinking Account Payment Date, shall transfer from the Revenue Fund to each Principal Fund an amount equal to the principal of the related Series of Bonds, including principal due and payable by reason of a Mandatory Sinking Account Payment coming due on such date.
Moneys in the Principal Fund or Sinking Account Payment Date shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of the Bonds when due and payable, subject, however, to the provisions of Section 5.03.
The principal of any Term Bonds so purchased by the Trustee in any twelve-month period ending 60 days prior to any Sinking Account Payment Date in any year shall be credited towards and shall reduce the principal of such Term Bonds required to be redeemed on such Sinking Account Payment Date in such year.