Payment Fund definition

Payment Fund has the meaning set forth in Section 2.02(a).

Payment Fund has the meaning set forth in Section 3.02(a).

Payment Fund shall have the meaning set forth in Section 2.6(a).

Examples of Payment Fund in a sentence

• No amount shall be charged against the Loan Payment Fund except as expressly provided in this Article IV and in Section 6.05 hereof.

• Unless the Fiscal Agent is instructed otherwise by the Funding Lender, the Fiscal Agent shall automatically transfer amounts in the Borrower Equity Account of the Project Loan Fund to the Loan Payment Fund to pay interest on the Project Loan and Funding Loan without any need for a Requisition or other written direction.

• The Governmental Lender and the Borrower shall have no interest in the Funding Loan Payment Fund or the moneys therein, which shall always be maintained by the Fiscal Agent completely separate and segregated from all other moneys held hereunder and from any other moneys of the Governmental Lender and the Borrower.

• Subject to Section 2.12 hereof, the Fiscal Agent shall charge the Loan Payment Fund, on each Interest Payment Date, an amount equal to the unpaid interest and principal due on the Funding Loan on such Interest Payment Date as provided in Section 4.03(a) and (b), and shall cause the same to be applied to the payment of such interest and principal when due.

• Any money remaining in the Loan Payment Fund on any Interest Payment Date after application as provided in the preceding sentence may, to the extent there shall exist any deficiency in the Loan Prepayment Fund to prepay the Funding Loan if called for prepayment on such Interest Payment Date, be transferred to the Loan Prepayment Fund to be applied for such purpose.

More Definitions of Payment Fund

Payment Fund is defined in Section 2.6(a) of the Agreement.

Payment Fund shall have the meaning set forth in Section 3.5.

Payment Fund means the monies which have been paid by me to you and kept in a separate suspense account opened and maintained by you for such purposes as you deem fit and which you may deal with in accordance with these Terms and Conditions.

Payment Fund means cash in an amount sufficient to make payment of the Merger Consideration pursuant to Section 2.1(c) in exchange for all of the outstanding shares of Company Common Stock (other than shares of Company Common Stock cancelled in accordance with Section 2.1(b)).

Payment Fund has the meaning assigned to such term in Section 1.7(a) of the Agreement.

Payment Fund has the meaning set forth in Section 1.8(a).

Payment Fund is defined in Section 1.6(a) of the Agreement.