Proceeds Account definition

Proceeds Account means a bank account of the Issuer, into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

Proceeds Account means a bank account of the Issuer held with a reputable bank, into which the Net Proceeds will be transferred and which has been pledged in favour of the Security Agent and the Bondholders (represented by the Security Agent) under the Proceeds Account Pledge Agreement.

Proceeds Account has the meaning set forth in Section 10(c).

Examples of Proceeds Account in a sentence

• Amounts held in the Standby Purchase Account and the Remarketing Proceeds Account by the Paying Agent shall be held uninvested and separate and apart from all other funds and accounts.

• Upon receipt from the Trustee of the immediately available funds transferred to the Paying Agent pursuant to 8.5 of this Series Indenture, the Paying Agent shall deposit such money in the Standby Purchase Account for application to the Purchase Price of the 2024 Series B-2 Bonds to the extent that the moneys on deposit in the Remarketing Proceeds Account shall not be sufficient.

• Notwithstanding the above, if there are no Bank Bonds Outstanding, the proceeds of a remarketing of 2024 Series B-2 Bonds in the Remarketing Proceeds Account in excess of the Purchase Price of such 2024 Series B-2 Bonds may be invested in Investment Securities in accordance with an Authority Request.

• The proceeds of the sale by the Remarketing Agent of any 2024 Series A-2 Bonds shall be delivered to the Paying Agent for deposit into the Remarketing Proceeds Account of the Bond Purchase Fund not later than 10:00 a.m., New York City time (11:30 a.m. New York City time with respect to 2024 Series A-2 Bonds in the Daily Mode), on such Purchase Date or Mandatory Purchase Date.

• Upon receipt from the Trustee of the immediately available funds transferred to the Paying Agent pursuant to 8.5 of this Series Indenture, the Paying Agent shall deposit such money in the Standby Purchase Account for application to the Purchase Price of the 2024 Series A-2 Bonds to the extent that the moneys on deposit in the Remarketing Proceeds Account shall not be sufficient.

More Definitions of Proceeds Account

Proceeds Account is defined in Section 7.1.10.

Proceeds Account has the meaning set forth in Section 2.04(b)(ii).

Proceeds Account has the meaning set forth in the Accounts Agreement.

Proceeds Account means a bank account of the Issuer, into which the Net Proceeds will be transferred and which has been pledged in favour of the Agent and the bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

Proceeds Account means the account by that name established pursuant to Section 3.03. “Regulations” means temporary and permanent regulations promulgated under the Tax Code. “Resolution” or “Bond Resolution” means this Resolution.

Proceeds Account means the bank account in the name of the Owner with the Account Bank and designated “Skopelos Proceeds Account”.

Proceeds Account means, with respect to each Locality, its account by that name established under Section 4 of this Proceeds Agreement.