Creation of Rebate Fund Sample Clauses

Creation of Rebate Fund. There is established with ----------------------- the Trustee a fund designated "Rebate Fund"; provided that the Trustee shall only be required to establish the Rebate Fund on its books at such time as it is first determined that there are Excess Earnings. Any provision hereof to the contrary notwithstanding, amounts credited to the Rebate Fund shall be free and clear of any lien hereunder. The Borrower shall, at its expense, engage and furnish information to a Financial Consultant to calculate, as soon as is practical after the end of each Bond Year for the Bonds and as soon as is practical after the payment in full of all outstanding Bonds, the amount of Excess Earnings as of the end of that Bond Year or the date of such final payment. The Trustee shall provide to the Borrower and its Financial Consultant information maintained by the Trustee necessary for the Financial Consultant to perform its obligations pursuant to this Section. The Borrower shall promptly notify the Trustee in writing of (i) the name, address and telephone number of the Financial Consultant retained by the Borrower pursuant to this Section and (ii) the amount of Excess Earnings determined by such Financial Consultant as at the end of each Bond Year and at the date of final payment of the Bonds in full. If the amount then on deposit in the Rebate Fund is in excess of the Excess Earnings as determined by the Financial Consultant, the Trustee shall forthwith pay that excess amount to the Borrower. If the amount then on deposit in the Rebate Fund is less than such Excess Earnings, the Borrower shall, within five days after receipt of the Financial Consultant's determination thereof, pay to the Trustee for deposit in the Rebate Fund an amount sufficient to cause the Rebate Fund to contain an amount equal to such Excess Earnings. If the Borrower does not pay that required amount within five days after receipt of the Financial Consultant's determination of the Excess Earnings, the Trustee shall immediately transfer that amount from the Project Fund or the General Account of the Bond Fund to the Rebate Fund to the extent there are moneys available in the Project Fund or the General Account of the Bond Fund, as the case may be. If the Borrower shall fail to engage a Financial Consultant as required hereunder, the Trustee may (but shall not be required to) engage a Financial Consultant at the Borrower's expense for the purposes hereof, in which case (i) the Trustee shall notify the Borrower i...
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Creation of Rebate Fund. There is hereby created with the Trustee a special fund to be designated “Capital Beltway Funding Corporation of Virginia Project Rebate Fund” (the “Rebate Fund”). The Trustee shall create and maintain separate accounts identified by the appropriate Series designation within the Rebate Fund to account for rebate payments due on each Series of Bonds that are tax-exempt.
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Creation of Rebate Fund. 12 Section 4.6. Calculation of Rebate Amount 12
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Creation of Rebate Fund. (a) Section 148(f) of the Code requires the payment to the United States of the excess of the amount earned on the investment of Gross Proceeds in Nonpurpose Investments over the amount that would have been earned on such investments had the amount so invested been invested at a rate equal to the Note Yield, together with any income attributable to such excess.
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Creation of Rebate Fund. There is hereby created and ordered established in the custody of the Trustee the Rebate Fund.
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Creation of Rebate Fund. There is hereby created by the Authority and ordered established in the custody of the Trustee a special trust fund to be designated “Local Building Authority of North Xxxxx Fire District, Utah, Rebate Fund” (herein defined as the “Rebate Fund”).‌
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Creation of Rebate Fund. (a) A special Rebate Fund is hereby established by the Issuer. The Rebate Fund shall be for the sole benefit of the United States of America and shall not be subject to the claim of any other person, including without limitation the Bondholders. The Rebate Fund is established for the purpose of complying with Section 148 of the Code and the Treasury Regulations promulgated pursuant thereto. The money deposited in the Rebate Fund, together with all investments thereof (as permitted in Section 4.12(h) hereof) and investment income therefrom, shall be held in trust and applied solely as provided in this section. The Rebate Fund is not a portion of the Trust Estate and is not subject to the lien of this Indenture. Notwithstanding the foregoing, the Trustee with respect to the Rebate Fund is afforded all the rights, protections and immunities otherwise accorded to it hereunder.
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Related to Creation of Rebate Fund

  • Establishment of Trust Account The Owner Trustee, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account (the "Certificate Distribution Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Depositor on behalf of the Owner Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an affiliate thereof) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Certificate Distribution Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Certificate Distribution Account.

  • Liquidation Account The Agent has established and will maintain in existence the Liquidation Account. The Liquidation Account shall be used to receive Collections from the Deposit Accounts pursuant to Section 1.4(b) and to hold amounts set aside for the Purchasers, the Backup Servicer and (if the Servicer is not AFC or an Affiliate of AFC) the Servicer out of the Collections of Pool Receivables prior to the applicable Settlement Dates and for such other purposes described in the Transaction Documents. No funds other than those transferred in accordance with Section 1.4 shall be intentionally transferred into the Liquidation Account.

  • Establishment of Trust Accounts (a) (i) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders.

  • Establishment of Reserve Account Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain in its corporate trust department, a segregated trust account that is an Eligible Deposit Account and that is a “securities account” as that term is defined in Section 8-501(a) of the UCC in the name of Secured Party and under the sole dominion and control of Secured Party, designated as “Toyota Auto Receivables 20[__]-[_] Owner Trust Reserve Account.” Securities Intermediary hereby undertakes to treat Secured Party as the person entitled to exercise the rights that comprise any Financial Asset credited to the Reserve Account. Secured Party and Pledgor agree that this account shall be the Reserve Account.

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