Special Construction Account definition

Special Construction Account shall have the meaning as defined in Section 5.12.
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Special Construction Account maintained under the Existing Loan Contract and continue to hold therein all moneys currently held therein, as provided in this Section 5.12. The Special Construction Account shall be insured to the extent insurable by the Federal Deposit Insurance Corporation or other federal agency acceptable to the RUS and shall be designated by the corporate name of the Borrower followed by the words “Special Construction Account.” The Borrower shall promptly deposit proceeds from all Advances, including previously advanced funds whose original expenditure has been disallowed by a RUS loan fund audit, into the Special Construction Account. Moneys in the Special Construction Account shall be used solely for the purposes for which the Advance was made or for such other purposes as may be approved by the RUS.
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Special Construction Account. The Borrower shall promptly deposit proceeds from all Advances, including previously advanced funds whose original expenditure has been disallowed by a RUS loan fund audit, into the Special Construction Account. Moneys in the Special Construction Account shall be used solely for the purposes for which the Advance was made or for such other purposes as may be approved by the RUS.
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Examples of Special Construction Account in a sentence

  • The Borrower shall promptly deposit all moneys advanced to it by the Government hereunder in a special construction account (hereinafter called "Special Construction Account") in a bank or banks, which shall meet the requirements specified in section 4.3 of the Loan Contract (or such other section thereof as is headed "Deposit of Funds"), and shall hold such moneys in trust for the Government until disbursed.

  • Moneys in the Special Construction Account shall be used solely for the purposes for which the Advance was made or for such other purposes as may be approved by the RUS.

  • Until the aggregate amount of withdrawals from the Special Construction Account shall equal or exceed the amount of the equity funds, they shall be deemed to have been made from equity funds and not from funds advanced by the Government to the Borrower.

  • Any Special Construction Account shall be designated by the corporate name of the Borrower, followed by the words "Trustee, REA Construction Fund Account." All loan funds in any Special Construction Account shall be used solely for the purposes specified in section 1.1 of the Loan Contract, as amended by this Agreement and any subsequent amendment.

  • If the Borrower is required to obtain equity funds by the terms of the Loan Contract, as amended by this Agreement or any subsequent amendment, the Borrower shall also deposit all such equity funds in the Special Construction Account on the same terms and conditions and for the same purposes as funds advanced on account of the Loan.

  • The Special Construction Account shall be insured to the extent insurable by the Federal Deposit Insurance Corporation or other federal agency acceptable to the RUS and shall be designated by the corporate name of the Borrower followed by the words “Special Construction Account.” The Borrower shall promptly deposit proceeds from all Advances, including previously advanced funds whose original expenditure has been disallowed by a RUS loan fund audit, into the Special Construction Account.

  • Subject to the provisions of paragraph 7 of this Exhibit I and section 5.2(c) of the Loan Contract (or subsection (c) of such other section of the Loan Contract as is headed "Remedies upon Default"), moneys in any Special Construction Account may be withdrawn only upon checks, drafts or orders signed on behalf of the Borrower and countersigned by an executive officer thereof.

  • Any account (herein called "Special Construction Account") in which any such moneys shall be deposited shall be designated by the corporate name of the Borrower followed by the words "Trustee, REA Construction Fund Account".

  • The Borrower shall continue to maintain the "Special Construction Account" maintained under the Existing Loan Contract and continue to hold therein all moneys currently held therein, as provided in this Section 5.12.

  • Subject to the provisions of section 5.2(c) hereof, moneys in any Special Construction Account may be withdrawn only upon checks, drafts or orders signed on behalf of the Borrower and countersigned by an executive officer thereof.


More Definitions of Special Construction Account

Special Construction Account shall have the meaning as defined in Section 5.21. Subsidiary shall mean a corporation that is a subsidiary of the Borrower and subject to the Borrower's control, as defined by RUS Accounting Requirements.
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Special Construction Account shall have the meaning as defined in Section 5.12. “Subsidiary” shall mean a corporation or other entity that is a subsidiary of the Borrower and subject to the Borrower’s control, as defined by Accounting Requirements. “System” shall mean all electric properties and interest in electric properties of the Borrower, it being the intent that “System” be broadly construed to encompass and include the Borrower’s interests in all electric production, transmission, distribution, conservation, load management, general plant and other related facilities, equipment or property and in any mine, well, pipeline, plant, structure or other facility for the development, production, manufacture, storage, fabrication or processing of fossil, nuclear or other fuel of any kind or in any facility or rights with respect to the supply of water, in each case for use, in whole or in major part, in any of the Borrower’s generating plants, now existing or hereafter acquired by lease, contract, purchase or otherwise or constructed by the Borrower, including any interest or participation of the Borrower in any such facilities or any rights to the output or capacity thereof, together with all additions, betterments, extensions and improvements to said System or any part thereof hereafter made and together with all lands, easements and rights-of-way of the Borrower and all other works, property or structures of the Borrower and contract rights and other tangible and intangible assets of the Borrower used or useful in connection with or related to said System, including, without limitation, a contract right or other contractual arrangement for the long-term or short-term interconnection, interchange, exchange, pooling, wheeling, transmission, purchase or sale of electric power and energy and other similar arrangements with entities having
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Special Construction Account refers to Special RMB Construction Account and Special USD Construction Account.
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Special Construction Account shall have the meaning as defined in Section 5.12. “Subsidiary” shall mean a corporation or other entity that is a subsidiary of the Borrower and subject to the Borrower’s control, as defined by Accounting Requirements. “System” shall mean all electric properties and interest in electric properties of the Borrower, it being the intent that “System” be broadly construed to encompass and include the
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Related to Special Construction Account

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Original construction ’ shall mean the first or initial construction

  • Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • Completion Accounts means the consolidated balance sheet of the Group as at the Completion Date to be prepared in accordance with Schedule 8 (Completion Accounts);

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Scheduled Construction Period means the period commencing from the Appointed Date and ending on Scheduled Completion Date;

  • GENERAL AND SPECIAL CONDITIONS OF CONTRACT means the instructions to Tenderer and General and special conditions of contract pertaining to the work for which above tenders have been called for.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Collection Accounts As defined in Section 3.10(a).

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Special Conditions of Contract means the pages completed by the Procuring Entity entitled Special Conditions of Contract which constitute Part A of the Special Conditions.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Special Conditions means Special Conditions of Contract, which override the General Conditions, also referred to as SCC.

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.