Examples of Subaccount in a sentence
Such Locality may then withdraw from its Income Subaccount an amount not in excess of the amount then to the credit of its Income Subaccount if the Locality qualifies for any one of the Rebate Exceptions or if such withdrawal is necessary to qualify for one of the Spending Exceptions.
Excess Funds Subaccount Balance as of Prior Payment Date 817,200.55 xiii.
The Investment Manager shall credit to the Locality's Income Subaccount all income and profits from the investment and reinvestment of moneys to the credit thereof.
Upon receipt by a Locality of the Rebate Report from VPSA, if the amount on deposit in the Locality's Income Subaccount (including the Income Subaccount Set Aside) is less than the sum of the Locality Rebate Requirement and Yield Reduction Payment of such Locality, the Investment Manager shall promptly charge the Principal Subaccount of such Locality an amount equal to the deficiency and credit its Income Subaccount such amount.
The Investment Manager shall invest and reinvest moneys to the credit of the Income Subaccount of each Locality for the benefit of such Locality in accordance with the provisions of the Information Statement, this Proceeds Agreement and the Related Tax Agreements.