Common use of Administration Fund Clause in Contracts

Administration Fund. With respect to each series of Notes, the Trustee shall, upon delivery thereof and from the proceeds thereof, credit to the Administration Fund the amount, if any, specified in the Supplemental Indenture providing for the issuance of such series of Notes. The Trustee shall also credit to the Administration Fund all amounts transferred thereto from the Revenue Fund and the Surplus Account. Except as otherwise provided in this Section 4.3, amounts in the Administration Fund shall, upon receipt by the Trustee of Corporation Orders directing the payment to designated payees in designated amounts for stated services, or, in the case of reimbursement of the Corporation for its expenses, to the Corporation, and in each case certifying that such payment is authorized by this Indenture, be used for and applied only to pay Costs of Issuance, Administrative Expenses and Note Fees or to reimburse another fund, account or other source of the Corporation for the previous payment of Costs of Issuance, Administrative

Appears in 2 contracts

Sources: Indenture of Trust (Education Loans Inc /De), Indenture of Trust (Education Loans Inc /De)