Special Funding definition
Examples of Special Funding in a sentence
The CARES Act Special Funding Terms and Conditions shall relate to a particular project and be peculiar to that project but shall not weaken the character or intent of the GTC.
On each Distribution Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Special Funding Account shall be treated as Collections of Finance Charge Receivables with respect to the last day of the related Monthly Period except as otherwise specified in the related Supplement.
The Special Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Certificateholders.
Unless directed by the Servicer, funds deposited in the Special Funding Account on a Transfer Date with respect to the immediately succeeding Distribution Date are not required to be invested overnight.
The State’s obligation to pay Agreement Funds exclusive of Special Funding will continue until the Agreement Expiration Date.
This Transferor Certificate shall not represent any interest in the Collection Account, the Special Funding Account or the Series Accounts, except as expressly provided in the Agreement, or any Series Enhancements.
The Trustee shall possess all right, title and interest in all monies, instruments, investment property, financial assets, documents, certificates of deposit and other property on deposit from time to time in the Special Funding Account and in all proceeds, dividends distributions, earnings, income and revenue thereof for the benefit of the Certificateholders.
The Transferors may, at their option, instruct the Trustee to deposit Shared Principal Collections which are otherwise payable to the Holders of the Transferor Certificates pursuant to the provisions set forth above into the Special Funding Account.
The Issuer may also specify that on any Transfer Date the proceeds from the sale of any new Series which is a Principal Sharing Series may be withdrawn from the Special Funding Account for the related Pool and treated as Shared Principal Collections with respect to the same Principal Sharing Group.
Subject to the first sentence of this paragraph, funds on deposit in the Special Funding Account on any Distribution Date will be invested in Eligible Investments that will mature so that such funds will be available on the next Distribution Date.