General Fund Account. By the time the loan is closed Borrower shall from Xxxxxxxx's own funds deposit in the General Fund Account the amount of $ . All income and revenue from the housing shall upon receipt be immediately deposited in the General Fund Account. Borrower may also in its discretion at any time deposit therein other funds, not otherwise provided for by this agreement, to be used for any of the purposes authorized in section 6, 7, or 8. Funds in the General Fund Account shall be used only as authorized in said sections and, until so used, shall be held by Borrower in trust for the Government as security for the loan obligations.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
