Contribution Account Sample Clauses
A Contribution Account clause establishes a dedicated account where contributions, such as funds or assets, are deposited for a specific purpose, often related to a joint venture, partnership, or project. This clause typically outlines who is responsible for making contributions, the timing and method of deposits, and how the account will be managed or accessed. By clearly defining the procedures and responsibilities related to the contribution account, the clause ensures transparency and accountability, helping to prevent disputes over funding and resource allocation.
Contribution Account. The Trustee shall, on or prior to the Closing Date, establish at the Custodian a single, segregated, securities account which shall be held in the name of the Trustee as Entitlement Holder in trust for the benefit of the Secured Parties, which shall be designated as the "Contribution Account" (the "Contribution Account"), which shall be maintained by the Issuer with the Custodian in accordance with the Securities Account Control Agreement. At any time during or after the Reinvestment Period, any Holder of Subordinated Notes may (i) make a contribution of Cash or (ii) by notice to the Collateral Manager and the Trustee no later than four Business Days prior to the applicable Distribution Date, designate any portion of Interest Proceeds or Principal Proceeds that would otherwise be distributed on such Subordinated Notes in accordance with the Priority of Distributions, for contribution to the Issuer (each, a "Contribution" and each such Holder, a "Contributor"). The Collateral Manager, on behalf of the Issuer, may accept or reject any Contribution in its reasonable discretion and shall notify the Trustee of any such acceptance; provided that in the case of clause (ii) of the definition of "Contribution," such notice must be provided no later than two Business Days prior to the applicable Distribution Date. Each accepted Contribution shall be received into the Contribution Account. If a Contribution is accepted, the Collateral Manager, on behalf of the Issuer, shall apply such Contribution to a Permitted Use as directed by the Contributor at the time such Contribution is made or, if no direction is given by the Contributor, at the Collateral Manager's reasonable discretion. No Contribution or portion thereof shall be returned to the Contributor at any time (other than by operation of the Priority of Distributions). Any income earned on amounts deposited in the Contribution Account shall be deposited in the Interest Collection Account as Interest Proceeds. For the avoidance of doubt, any amounts deposited into the Contribution Account pursuant to clause (ii) of the definition of "Contribution" shall be deemed for all purposes as having been paid to the Contributor pursuant to the Priority of Distributions.
Contribution Account. In accordance with this Indenture and the Securities Account Control Agreement, the Issuer shall, prior to the Closing Date, cause the Collateral Trustee to establish at the Custodian a single, segregated non‑interest bearing account held in the name of the Issuer, subject to the lien of the Collateral Trustee, which shall be designated as the Contribution Account, which shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. Each Cash Contribution will be received into the Contribution Account, and the Collateral Manager, on behalf of the Issuer, will apply such Contribution to the Permitted Use directed by the applicable Contributor at the time such Contribution is made (or, if no such direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion). No Contribution or any portion thereof will be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account will be deposited in the Interest Collection Subaccount as Interest Proceeds.
Contribution Account. The Collateral Trustee shall, prior to the Closing Date, establish a segregated, non-interest bearing account held in the name of the Issuer subject to the lien of the Collateral Trustee for the benefit of the Secured Parties, which shall be designated as the "
Contribution Account. At any time during or after the Reinvestment Period, any Holder of Interests may, by delivery of a written notice to the Collateral Trustee substantially in the form of Exhibit F hereto (a "Contribution Notice") at least three Business Days prior to the date such Holder proposes to make such Contribution, and with the prior written consent of the Portfolio Manager, make a contribution of Cash, Eligible Investments and/or Collateral Obligations (each, a "Contribution" and each such Holder, a "Contributor") to the Issuer for any purpose (including, without limitation, any Permitted Use). Each accepted Contribution shall be received into the Contribution Account and applied by the Portfolio Manager, on behalf of the Issuer, to a Permitted Use as directed by the Contributor in the related Contribution Notice or, if no direction is given by the Contributor, at the Portfolio Manager's sole discretion. No Contribution or any portion thereof shall be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account shall be deposited in the Collection Account as Interest Proceeds. For the avoidance of doubt, Contributions shall not increase any rights held by any Holder.
Contribution Account. In accordance with this Indenture and the Securities Account Control Agreement, the Issuer shall, prior to the Closing Date, cause the Collateral Agent to establish at the Custodian a single, segregated non-interest bearing account held in the name of the Issuer, subject to the lien of this Indenture, which shall be designated as the Contribution Account, which shall be maintained with the Custodian in accordance with the Securities Account Control Agreement. Each Cash Contribution will be received into the Contribution Account, and the Collateral Manager, on behalf of the Issuer, will apply such Contribution to the Permitted Use directed by the applicable Contributor at the time such Contribution is made, so long as the Collateral Manager consents to such Permitted Use or Permitted Uses (or, if no such direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion) and will not in any event be subsequently applied to any other Permitted Use. No Contribution or any portion thereof will be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account will be deposited in the Interest Collection Subaccount as Interest Proceeds.
Contribution Account. A Contribution Account shall be established on the books of the Partnership for each Partner, other than LEAAF Partners in respect of their LEAAF Partnership Interests. Each such Contribution Account shall be credited (increased) with the amount of the respective Partner's contributions to the Partnership as and when made, with property contributed in kind being valued in accordance with Section 4.6(c) hereof. The balance of each Partner's Contribution Account shall be debited (reduced) by the amounts distributed to such Partner pursuant to Section 6.2(d) or Section 12.2 of this Agreement.
Contribution Account. In accordance with this Indenture and the Account Agreement, the Trustee shall, on or prior to the Closing Date, establish at the Custodian a single, segregated non-interest bearing account, which will be held in the name of U.S. Bank National Association, as Trustee, for the benefit of the Secured Parties, which will be designated as the “Contribution Account” and which will be held by the Custodian in accordance with the Account Agreement. In addition, the proceeds of an additional issuance of Subordinated Notes and/or Junior Mezzanine Notes may be deposited in the Contribution Account for application to a Permitted Use, at the direction of the Collateral Manager. At any time any Holder of Subordinated Notes (other than a Benefit Plan Investor) may, upon written notice substantially in the form of Exhibit G (each such notice, a “Contribution Notice”) to the Trustee and the Collateral Manager and with the consent of the Collateral Manager, (i) make a contribution of Cash to the Issuer or (ii) solely in the case of Holders of Subordinated Notes in the form of Certificated Notes or the holders of 100% of
Contribution Account. Beginning January 1, 2000 and ending December 31, 2000, a loan shall be withdrawn on a pro rata basis from a borrower's Employee 401(k) Contribution Account, Rollover Account and Employer Match Account.
Contribution Account. The Trustee has established at the Custodian a single, segregated non-interest bearing trust account which shall be held in the name of the Trustee for the benefit of the Secured Parties, which shall be designated as the “Contribution Account,” and which shall be maintained by the Issuer with the Custodian in accordance with the Securities Account Control Agreement. At any time during the Reinvestment Period, any Holder of Interests may, but shall not be required to, (A) make contributions of Cash, Eligible Investments and Collateral Obligations, in each case, in an amount equal to not less than $500,000 (each, a “Contribution” and, each such Holder, a “Contributor”), to the Issuer for any purpose (including, without limitation, any Permitted Use and/or to make any Cure Contribution) or (B) return to the Trustee any portion of Interest Proceeds or Principal Proceeds that was distributed on such Interests in accordance with the Priority of Distributions. Each Contribution shall be received into the Contribution Account, and the Portfolio Manager, on behalf of the Issuer, shall apply such Contribution as directed by the applicable Contributor at the time such Contribution is made (or, if no such direction is given by the Contributor, at the direction of the Portfolio Manager in its sole discretion). No Contribution or any portion thereof shall be returned to the Contributor at any time. Any income earned on amounts deposited in the Contribution Account shall be deposited in the Interest Collection Account as Interest Proceeds.
Contribution Account. A Participant’s rights to his Section 401(k) Contribution Account shall be nonforfeitable at all times.