Subordinate Obligations Account definition

Subordinate Obligations Account means the Subordinate Obligations Account of the Water Fund which is described in Section 5.4.

Subordinate Obligations Account means the Subordinate Obligations Account of the Sewage Disposal Fund which is described in Section 3.4.

Subordinate Obligations Account means the Account by that name created within the Project Fund pursuant to Section 5.02.

Examples of Subordinate Obligations Account in a sentence

• The Subordinate Obligations Account and all sub-accounts therein shall be maintained in order to account for the receipt and disbursement of proceeds (and all earnings thereon) of the Subordinate Obligations, including but not limited to, the payment of, or reimbursement for a prior payment of, Costs of Issuance of Subordinate Obligations and other Project Costs permitted to be paid with the proceeds of such Subordinate Obligations.

• The net proceeds of each draw under each TIFIA Loan Agreement shall be deposited on the respective funding date of such draw in a dedicated sub-account of the Subordinate Obligations Account in accordance with, and used for the purposes set forth in, such TIFIA Loan Agreement and in this Indenture, including the Second Supplemental Indenture.

• Notwithstanding anything to the contrary set forth herein, the amounts on deposit in any such sub-account of the Subordinate Obligations Account (and all earnings thereon) shall secure only the Obligations in the form of or securing payment of the related TIFIA Loan, and such amounts shall be held by the Trustee hereunder solely for the benefit of the TIFIA Lender until such funds have been disbursed in accordance with this Section.

• The net proceeds of Subordinate Obligations shall be deposited by the Trustee into the applicable sub-account of the Subordinate Obligations Account as provided by the applicable Supplemental Indenture.

More Definitions of Subordinate Obligations Account

Subordinate Obligations Account means the account created by Section 7.06 of the Original Resolution.

Subordinate Obligations Account means the account within the Sewer System Fund established pursuant to Sections 6.1 and 6.8.

Subordinate Obligations Account means the account in the Water System Fund contemplated pursuant to Section 7.06 of the Original Resolution and created pursuant Section

Subordinate Obligations Account means the account in the Sanitary Sewerage System Fund established pursuant to Section 7.06 of the Original Resolution and funded as described in Section 8.8 of this Supplemental Resolution.

Subordinate Obligations Account means the Subordinate Obligations Account of the Water Enterprise Fund. “Supplemental Ordinance” means any Ordinance which supplements or amends the First Lien Bond Ordinance.

Subordinate Obligations Account means the account in the Sewer System Fund created pursuant to Section 5.06 of the Original Resolution.

Subordinate Obligations Account means the account designated as the “City of Bend Water Subordinate Obligations Account” created within the Water Fund as provided in Section 7.01 of this Master Declaration.