CONCERNING THE FISCAL AGENT Clause Samples
The "Concerning the Fiscal Agent" clause defines the role, responsibilities, and authority of the fiscal agent within the context of the agreement. Typically, this clause outlines the fiscal agent's duties, such as managing funds, processing payments, and maintaining financial records on behalf of the parties involved. It may also specify the standards the fiscal agent must adhere to and the procedures for reporting or accountability. The core function of this clause is to ensure that financial transactions are handled by a designated, trusted party, thereby promoting transparency and reducing the risk of mismanagement or disputes over financial matters.
CONCERNING THE FISCAL AGENT. Section 7.01 Standard of Care 46 Section 7.02 Reliance Upon Documents 46 Section 7.03 Use of Proceeds 49 Section 7.04 [Reserved] 49 Section 7.05 Trust Imposed 49 Section 7.06 Compensation of Fiscal Agent 49 Section 7.07 Qualifications of Fiscal Agent 50 Section 7.08 Merger of Fiscal Agent 50 Section 7.09 Resignation by the Fiscal Agent 50 Section 7.10 Removal of the Fiscal Agent 50 Section 7.11 Appointment of Successor Fiscal Agent 51 Section 7.12 Concerning Any Successor Fiscal Agent 51 Section 7.13 Successor Fiscal Agent 51 Section 7.14 Appointment of Co-Fiscal Agent or Separate Fiscal Agent 52 Section 7.15 Notice of Certain Events 53 Section 7.16 [Reserved] 53 Section 7.17 Filing of Financing Statements 53 Section 7.18 USA Patriot Act Requirements of the Fiscal Agent 54
CONCERNING THE FISCAL AGENT. Section VII. 01Standard of Care . The Fiscal Agent, prior to an Event of Default as defined in Section 6.01 hereof and after the curing or waiver of all such events which may have occurred, shall perform such duties and only such duties as are specifically set forth in this Funding Loan Agreement and no implied covenants or obligations should be read into this Funding Loan Agreement against the Fiscal Agent. . The Fiscal Agent, during the existence of any such Event of Default (which shall not have been cured or waived), shall exercise such rights and powers vested in it by this Funding Loan Agreement and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under similar circumstances in the conduct of such Person’s own affairs For the avoidance of doubt, the permissive right of the Fiscal Agent to do things enumerated in this Funding Loan Agreement or the Project Loan Agreement shall not be construed as a duty. No provision of this Funding Loan Agreement shall be construed to relieve the Fiscal Agent from liability for its breach of trust, own negligence or willful misconduct, except that:
(a) prior to an Event of Default hereunder, and after the curing or waiver of all such Events of Default which may have occurred:
(i) the duties and obligations of the Fiscal Agent shall be determined solely by the express provisions of this Funding Loan Agreement, and the Fiscal Agent shall not be liable except with regard to the performance of such duties and obligations as are specifically set forth in this Funding Loan Agreement; and
(ii) in the absence of bad faith on the part of the Fiscal Agent, the Fiscal Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificate or opinion furnished to the Fiscal Agent by the Person or Persons authorized to furnish the same;
(b) at all times, regardless of whether or not any such Event of Default shall exist:
(i) the Fiscal Agent shall not be liable for any error of judgment made in good faith by an officer or employee of the Fiscal Agent except for willful misconduct or negligence by the officer or employee of the Fiscal Agent as the case may be; and
(ii) the Fiscal Agent shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Funding Lender Representative relating to the time, method and place of conducting any proceeding for ...
CONCERNING THE FISCAL AGENT. Section 7.01 Standard of Care 50 Section 7.02 Reliance Upon Documents 51 Section 7.03 Use of Proceeds 54 Section 7.04 [Reserved] 54 Section 7.05 Trust Imposed 54
CONCERNING THE FISCAL AGENT. Section 7.01. Duties of the Fiscal Agent............................................................89 Section 7.02. Fiscal Agent May Own Bonds and Certificates...........................................89 Section 7.03. Fees and Expenses of Fiscal Agent; Indemnification of Fiscal Agent..........................................................................89 Section 7.04. Resignation and Removal of Fiscal Agent...............................................90 Section 7.05. Successor Fiscal Agent................................................................91 Section 7.06. Merger or Consolidation of Fiscal Agent...............................................91
CONCERNING THE FISCAL AGENT. SECTION 5.1. Appointment, Duties and Responsibilities of the Fiscal Agent 17 SECTION 5.2. Certain Rights of the Fiscal Agent 18
SECTION 5.3. Fiscal Agent Not Responsible for Recitals, Disposition of Bonds or Application of Proceeds Thereof 19
SECTION 5.4. Fiscal Agent and Agents May Hold Bonds; Collections 19 SECTION 5.5. Monies Held by Fiscal Agent 19 SECTION 5.6. Compensation and Indemnification of Fiscal Agent and Its Prior Claim 19
CONCERNING THE FISCAL AGENT. Section 401.
CONCERNING THE FISCAL AGENT. SECTION 5.1. Appointment, Duties and Responsibilities of the Fiscal Agent 17 SECTION 5.2. Certain Rights of the Fiscal Agent 18 SECTION 5.3. Fiscal Agent Not Responsible for Recitals, Disposition of Bonds or Application of Proceeds Thereof 18 SECTION 5.4. Fiscal Agent and Agents May Hold Bonds; Collections 19 SECTION 5.5. Monies Held by Fiscal Agent 19 SECTION 5.6. Compensation and Indemnification of Fiscal Agent and Its Prior Claim 19 SECTION 5.7. Right of Fiscal Agent to Rely on Officer’s Certificate 20 SECTION 5.8. Persons Eligible for Appointment as Fiscal Agent 20 SECTION 5.9. Resignation and Removal; Appointment of Successor Fiscal Agent 20 SECTION 5.10. Acceptance of Appointment by Successor Fiscal Agent 21 SECTION 5.11. Merger, Conversion, Consolidation or Succession to Business of Fiscal Agent 22
SECTION 6.1. Evidence of Action Taken by Bondholders 22 SECTION 6.2. Proof of Execution of Instruments and of Holding of Bonds; Record Date 22 SECTION 6.3. Holders to Be Treated as Owners 23 SECTION 6.4. Bonds Owned by the Republic Deemed Not Outstanding 23 SECTION 6.5. Right of Revocation of Action Taken 24
CONCERNING THE FISCAL AGENT. Appointment, Duties and Responsibilities of the Fiscal Agent..................17 SECTION 5.2. Certain Rights of the Fiscal Agent............................................18
CONCERNING THE FISCAL AGENT