Administrative Expense Fund. (A) The Trust shall deposit in the Administrative Expense Fund:
Administrative Expense Fund. (a) The District covenants and agrees that it shall not transfer or disburse from Special Tax Fund A to the Administrative Expense Fund in any Loan Year any amount in excess of the Administrative Expenses Cap until such time as there has been deposited to the Repayment Fund an amount, together with any amounts already on deposit therein, that is sufficient to pay the Scheduled Payments on the Loan and all Parity Loans due in such Loan Year and any Deferred Payments on the Loan and all Parity Loans. Notwithstanding the foregoing, upon receipt of a Certificate of an Authorized Representative of the District, amounts may be disbursed from Special Tax Fund A or transferred from Special Tax Fund A to the Administrative Expense Fund prior to the transfers to the Repayment Fund to the extent necessary to collect delinquent Special Taxes. Following the required deposit to the Repayment Fund of amounts sufficient to pay the interest and principal on the Loan and all Parity Loans due in a Loan Year and any past due and unpaid interest and principal payments on the Loan and all Parity Loans, the District may make additional transfers to the Administrative Expense Fund. The amounts in the Administrative Expense Fund are not pledged to the repayment of the Loan or the Parity Loans and may be used by the District to pay Administrative Expenses and for any other lawful purpose.
Administrative Expense Fund. Money deposited in the Administrative Expense Fund shall be held in trust by the Trustee and shall be applied by the Trustee to pay Administrative Expenses upon receipt by the Trustee of a written request in the form attached as Exhibit B hereto signed by an Authorized Authority Representative specifying (i) the amount to be withdrawn, (ii) the Person to whom such amount is to be paid and the payment instructions,
Administrative Expense Fund. The Trustee shall establish and maintain a separate fund to be held by the Trustee and known as the “Administrative Expense Fund” into which shall be deposited the amounts specified in Section 4.2(d). The moneys in the Administrative Expense Fund shall be used to pay Authority Administrative Expenses or shall be transferred to the Surplus Fund, in either case, upon receipt of a Requisition of the Authority.
Administrative Expense Fund. The Trustee shall establish and maintain a special fund designated the “Administrative Expense Fund.” The Trustee shall deposit in the Administrative Expense Fund the amount specified in Section 3.02(d). There shall additionally be deposited in the Administrative Expense Fund the amounts transferred from the Special Tax Fund and required to be deposited therein pursuant to Section 5.02. The moneys in the Administrative Expense Fund shall be used and withdrawn by the Trustee from time to time to pay the Administrative Expenses upon submission of a Written Request of the Community Facilities District stating (a) the Person to whom payment is to be made, (b) the amount to be paid, (c) the purpose for which the obligation was incurred, (d) that such payment is a proper charge against the Administrative Expense Fund, and (e) that such amounts have not been the subject of a prior disbursement from the Administrative Expense Fund; in each case together with a statement or invoice for each amount requested thereunder.
Administrative Expense Fund. As a final and complete 1. settlement of any and all claims of the Trustee against Xxxxxx, Mishmeret and Hermetic involving the Subject Matter, on the Effective Date (as set forth in paragraph 11 infra), the Series B and Series C Indenture Trustees shall, in a one-time payment, remit the sum of $1.5 million USD (the “Settlement Funds”) to the Trustee as follows:
Administrative Expense Fund. (A) Establishment of Administrative Expense Fund. The Administrative Expense Fund is hereby established as a separate fund to be held by the Fiscal Agent, to the credit of which deposits shall be made as required by Sections 4.01, Section 4.03(D) and 4.05(A), and as set forth in a Supplemental Agreement. Moneys in the Administrative Expense Fund shall be disbursed as provided below.
Administrative Expense Fund. There will be deposited in the Administrative Expense Fund the amount set forth in Section 5 and such amounts as are received from the Participant for the payment of the Administrative Fee as provided in Section 502 of the Ordinance. On the Closing Date, the Paying Agent will disburse from the Administrative Expense Fund the amounts to the payees as set forth in Schedule 1 to the Participant’s Closing Certificate delivered on the Closing Date. The Master Trust Bonds Expense will be transferred to the Master Trustee at the written direction of DNR or as DNR may otherwise direct in writing. The Paying Agent will promptly disburse the Administrative Fee to DNR.
Administrative Expense Fund. There will be deposited in the Administrative Expense Fund the amount set forth in Section 5(a)(ii) and such amounts as are received from the Participant for the payment of the Administrative Fee as provided in Section 502 or Section 502A, as applicable, of the Ordinance. On the Closing Date the Paying Agent will disburse from the Administrative Expense Fund the amounts to the payees as set forth in Schedule 1 to the Participant’s Closing Certificate delivered on the Closing Date. The balance of the amount deposited pursuant to Section 5(a)(ii), the Master Trust Bonds Expense, will be transferred to the Master Trustee at the written direction of DNR or as DNR may otherwise direct in writing. The Paying Agent will promptly disburse the Administrative Fee to DNR. Moneys in the Administrative Expense Fund (other than the Paying Agent’s Fee) will be invested in the Federated Prime Obligations Fund unless the Paying Agent is otherwise directed in writing by DNR.
Administrative Expense Fund. The Trustee shall deposit in the Administrative Expense Fund from time to time amounts necessary to make timely payment of Administrative Expenses; provided, however, that, the total amount transferred in a Bond Year shall not exceed the Administrative Expenses Cap until such time as there has been deposited to the Interest Account and the Principal Account an amount, together with any amounts already on deposit therein, that is sufficient to pay the interest and principal on all Bonds and Parity Bonds due in such Bond Year and to restore the Reserve Account to the Reserve Requirement.
