Principal Account. (s) shall mean deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7.
Principal Account. (a) The Securities and all cash, ----------------- other than amounts credited to the Income Account, received by the Trustee in respect of the Securities shall be credited to a separate account to be known as the "Principal Account".
Principal Account. On or before each November 1, commencing November 1, 201_, the Trustee shall set aside from the Revenue Fund and deposit in the Principal Account an amount of money equal to the amount of all sinking fund payments required to be made on such November 1, into the respective sinking fund accounts for all Outstanding Term Bonds and the principal amount of all Outstanding Serial Bonds maturing on such November 1. No deposit need be made in the Principal Account if the amount contained therein and available to pay principal of the Bonds is at least equal to the aggregate amount of the principal of all Outstanding Serial Bonds maturing by their terms on such November 1 plus the aggregate amount of all sinking fund payments required to be made on such November 1 for all Outstanding Term Bonds. The Trustee shall establish and maintain within the Principal Account a separate subaccount for the Term Bonds of each Series and maturity, designated as the “____ Sinking Account” (the “Sinking Account”), inserting therein the Series and maturity (if more than one such account is established for such Series) designation of such Bonds. With respect to each Sinking Account, on each mandatory sinking account payment date established for such Sinking Account, the Trustee shall apply the mandatory sinking account payment required on that date to the redemption (or payment at maturity, as the case may be) of Term Bonds of the Series and maturity for which such Sinking Account was established, upon the notice and in the manner provided in Article IV; provided that, at any time prior to selection of Bonds for redemption, the Trustee may, upon the Written Request of the Authority, apply moneys in such Sinking Account to the purchase of Term Bonds of such Series and maturity at public or private sale, as and when and at such prices (including brokerage and other charges, but excluding accrued interest, which is payable from the Interest Account), as may be directed by the Authority, except that the purchase price (excluding accrued interest) shall not exceed the redemption price that would be payable for such Bonds upon redemption by application of such mandatory sinking account payment. If, during the twelve (12)-month period immediately preceding said mandatory sinking account payment date, the Trustee has purchased Term Bonds of such Series and maturity with moneys in such Sinking Account, such Bonds so purchased shall be applied, to the extent of the full principal amount thereo...
Principal Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, for the benefit of the Series 1997-2 Certificateholders, with a Qualified Institution a segregated trust account (the "Principal Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-2 Certificateholders. The Principal Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in all funds held from time to time in the Principal Account and in all proceeds thereof. The Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-2 Certificateholders. If, at any time, the institution holding the Principal Account ceases to be a Qualified Institution, the Trustee (or the Servicer on its behalf) shall within five (5) Business Days establish a new Principal Account meeting the conditions specified above with a Qualified Institution and shall transfer any cash and/or any investments to such new Principal Account. Pursuant to the authority granted to the Servicer in Section 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Account for the purposes of carrying out the Servicer's or the Trustee's duties hereunder.
Principal Account. The Securities in the Trust and all monies, including capital gains paid on the Fund Shares, other than amounts credited to the Income Account for the Trust, received by the Trustee in respect of the Securities in the Trust shall be credited to a separate account for the Trust to be known as the "Principal Account" for the Trust.
Principal Account. The Securities in the Trust and all cash, other than amounts credited to the Income Account, received by the Trustee in respect of the Securities in the Trust shall be credited to a separate account for the Trust to be known as the "Principal Account."
Principal Account. In making the payments, deposits and credits required by subsections (A), (B) and (C) of this Section 4.7.2, an amount deposited and credited or required to be deposited and credited to the Principal Account representing premium on Term Notes paid as part of the purchase price thereof and any other deposits and credits otherwise made or required to be made to the Principal Account shall, to the extent available for such purpose, be taken into consideration and allowed for. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of Financed Student Loans as is specified in Section 4.2 hereof, (ii) that portion of the proceeds from the sale of the Corporation's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Class A Notes and the Class B Notes on a Principal Payment Date, (iii) all payments under any Credit Enhancement Facility or Demand Purchase Agreement to be used to pay principal of Class A Notes or Class B Notes or the purchase price of Class A Notes or Class B Notes to be purchased on a Purchase Date or Mandatory Tender Date, and (iv) all amounts required to be transferred thereto from the Funds and Accounts specified in subsection (D) of this Section 4.7.2.
Principal Account. The Trustee shall deposit to the Principal Account moneys transferred from the Revenue Fund as provided in Section 5.3 hereof. Moneys in the Principal Account shall be used to pay principal of and sinking fund installments on the Bonds other than Subordinated Bonds when due.
Principal Account. The Trustee, on each Principal Payment Date, shall withdraw and apply from moneys on deposit in the Principal Account, an amount equal to the principal becoming due on Bonds on such Principal Payment Date (other than a redemption date). Money in the Principal Account shall be used and withdrawn by the Trustee on each Principal Payment Date solely for the payment of the principal of outstanding Bonds.
Principal Account. On or before each Interest Payment Date, the Trustee shall deposit in the Principal Account an amount required to cause the aggregate amount on deposit in the Principal Account to equal the principal amount of the Bonds and any Additional Bonds maturing or required to be redeemed through mandatory sinking account redemption on such Interest Payment Date pursuant to Section 2.02 or Section 2.03 or pursuant to a Supplemental Indenture, as the case may be. All moneys in the Principal Account shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of the Bonds and any Additional Bonds.
