Trust Fund Certificate definition

Trust Fund Certificate means a certificate of a Responsible Officer of the Lead Borrower certifying (a) the type and amount of any Tax and Trust Funds contained or held in a Blocked Account, and (b) that (x) the obligation requiring such Tax and Trust Funds is due and payable within 15 Business Days of delivery of such certificate and (y) amounts on deposit in any applicable Trust Fund Account are insufficient to make such payment.

Trust Fund Certificate means a certificate of a Responsible Officer of the Borrower Agent certifying (a) the type and amount of any Trust Funds (other than payroll and employee benefit payments in the nature of discretionary contributions) contained or held in a Blocked Account, (b) that the failure to remit such Trust Funds to the Person entitled thereto could reasonably be expected to result in personal, criminal or civil liability to any director, officer or employee of any Loan Party or any Subsidiary of any Loan Party under any applicable law and (c) (x) that the obligation requiring such Trust Funds is due and payable within 10 Business Days of delivery of such certificate and (y) amounts on deposit in any applicable Trust Fund Account are insufficient to make such payment.

Trust Fund Certificate means an officer’s certificate from a Responsible Officer of any Grantor certifying (i) the type and amount of any Trust Funds contained or held in a Deposit Account and (ii) that the failure to remit such Trust Funds to the Person entitled thereto could reasonably be expected to result in personal, criminal or civil liability to any director, officer or employee of any Grantor or any Subsidiary of any Grantor under any applicable Requirement of Law.

Examples of Trust Fund Certificate in a sentence

• The total amount of interest distributed or added to the Certificate Balance in respect of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof immediately prior to such Distribution Date.

• The total amount of interest distributed on or added to the Certificate Principal Balance of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.

• The total amount of interest distributed in respect of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof immediately prior to such Distribution Date.

• Any given year could see non-systematic changes in bureau coverage across collateral types based on who else joins, and these coverage changes affect the precision of the bureau average.

• The total amount of interest distributed on any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.

• The Trustee acknowledges the transfer and assignment to it of the property constituting the Certificate Trust Fund and, as of the Closing Date, shall cause to be authenticated and delivered to or upon the order of the Company, in exchange for the property constituting the Certificate Trust Fund, Certificate Trust Certificates and the Class R Certificates in Authorized Denominations evidencing the entire ownership of the Certificate Trust Fund.

• Savings Account Certificate or Time DepositBank wherepartofthechild’sincomeisAccount Certificate under an in-trust-for set-deposited up issued by a bank under the child’s name in lieu of Trust Fund Certificate [if applicable] (1 photocopy) 8.

• The total amount of interest either distributed or added to the Certificate Balance in respect of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof immediately prior to such Distribution Date.

• The document containing the provisions of the insurance appears to be the Department of Financial Services, Division of Risk Management, State Risk Management Trust Fund Certificate of Property Coverage (“Policy”).

• Such Program Advisory Committees are to be made up of a cross- section of persons external to the College who have a direct interest in and a diversity of experience and expertise related to the particular area addressed by the program.

More Definitions of Trust Fund Certificate

Trust Fund Certificate means a certificate of a Responsible Officer of the Borrower certifying (a) the type and amount of any Trust Funds (other than payroll and employee benefit payments, in each case, in the nature of discretionary contributions) contained or held in a Blocked Account, (b) that the failure to remit such Trust Funds to the Person entitled thereto could reasonably be expected to result in personal, criminal or civil liability to any director, officer or employee of any Loan Party or any Subsidiary of any Loan Party under any applicable Law and (c) that (x) the obligation requiring such Trust Funds is due and payable within 10 Business Days of delivery of such certificate and (y) amounts on deposit in any applicable Trust Fund Account are insufficient to make such payment.

Trust Fund Certificate means an officer’s certificate from an Authorized Officer of any Grantor certifying (i) the type and amount of any Trust Funds contained or held in a Deposit Account, (ii) that the failure to remit such Trust Funds to the Person entitled thereto could reasonably be expected to result in personal, criminal or civil liability to any director, officer or employee of any Grantor or any Subsidiary of any Grantor under any applicable law and (iii) that the obligation requiring such Trust Funds is due and payable within ten (10) Business Days of delivery of such certificate.

Trust Fund Certificate means a certificate of a Responsible Officer of the Borrower Agent certifying (a) the type and amount of any Trust Funds (other than payroll and employee benefit payments, in each case, in the nature of discretionary contributions) contained or held in an Approved Deposit Account or an Approved Securities Account, (b) that the failure to remit such Trust Funds to the Person entitled thereto could reasonably be expected to result in personal, criminal or civil liability to any director, officer, employee, member of management or manager of any Loan Party or any Subsidiary of any Loan Party under any applicable law and (c) that (x) the obligation requiring such Trust Funds is due and payable within 10 Business Days of delivery of such certificate and (y) amounts on deposit in any applicable Trust Fund Account are insufficient to make such payment.