Examples of Wastewater Enterprise Fund in a sentence
The District has heretofore established the Wastewater Enterprise Fund, which the District agrees to continue to hold and maintain for the purposes and uses set forth herein.
If the amount of Net Revenues on deposit in the Wastewater Enterprise Fund is any time insufficient to enable the District to pay when due the Loan Repayments and the principal of and/or interest on Parity Obligations, such payments shall be made by the District on a pro rata basis.
The District shall withdraw from the Wastewater Enterprise Fund and transfer to the Lender an amount of Net Revenues equal to the aggregate amount of the Loan Repayment when and as the same becomes due and payable.
In addition, the District shall withdraw from the Wastewater Enterprise Fund such amounts of Net Revenues at such times as required to pay the principal of and interest on Parity Obligations and otherwise comply with the provisions of the instruments authorizing the issuance of all Parity Obligations.
The District shall deposit all Gross Revenues in the Wastewater Enterprise Fund promptly upon the receipt thereof.
All Net Revenues will be held by the District in the Wastewater Enterprise Fund in trust for the benefit of the Lender and for the benefit of the owners of Parity Obligations.