Habitat Conservation Fund Accounts Sample Clauses

Habitat Conservation Fund Accounts. WAFWA will calculate the applicable Mitigation Fee associated with any Impact Activities using the methodology shown on Appendix A of this CCAA and Exhibit 2 of the CI. Upon receipt of Enrollment Fees and Mitigation Fees, WAFWA will credit the Enrollment Fees and Mitigation Fees to the appropriate Participant’s Habitat Conservation Fund Account. The obligation to pay Mitigation Fees will be satisfied by the Enrollment Fees and pre-paid Mitigation Fees in a Participant’s Habitat Conservation Fund until such fees are exhausted. Prepaid funds that are not used in a calendar year will be available to satisfy the obligation to pay Mitigation Fees in subsequent calendar years; however, Participants must continue to make annual prepayments of Enrollment Fees for the first three years as described above even if all prepaid funds are not used in the previous calendar year. The Mitigation Fees may be adjusted as described in Appendix A of this CCAA and Exhibit 2 of the CI (Appendix C). WAFWA will provide written or electronic notice of any adjustments to Mitigation Fees to the Participant at least 90 days before the adjustments take effect. WAFWA will deduct the resulting Mitigation Fee from a Participant’s Habitat Conservation Fund Account balance within 10 working days after receiving notification from the Participant. WAFWA will provide notice to the Participant within 30 days of: Deducting Mitigation Fees from the Participant’s Habitat Conservation Fund Account, or Crediting funds to the Participant’s Habitat Conservation Fund Account, or Crediting Remediation Units (as defined in Appendix B of this CCAA and Exhibit 3 of the CI) to the Habitat Conservation Fund Account. Such notice shall detail: Amount of the Mitigation Fee deducted, Remaining Habitat Conservation Fund Account balance, Payment due prior to commencing Impact Activities and contingent on offset unit availability, and The number of Remediation Units held by the Participant. In some circumstances, the Participant may elect not to develop Impact Activities or a portion of the Impact Activities after Mitigation Fees associated with that Impact Activities have been deducted from its Habitat Conservation Account. The Participant has the responsibility of notifying WAFWA that the Impact Activities will not be developed. Within 10 working days of receiving notification from the Participant that it will not develop Impact Activities, WAFWA will credit the Participant’s Habitat Conservation Fund Account wit...
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs

Related to Habitat Conservation Fund Accounts

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Certificate Accounts Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (certificate account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and the Account Receipt for each account, the terms of which are incorporated herein by reference.

  • Education Fund The College will allocate $15,000 into an Education Fund as set forth in Appendix “F” to this Agreement.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Health and Dental Premium Accounts The Employer agrees to provide eligible employees with the option to pay for the employee portion of health and dental premiums on a pretax basis as permitted by law or regulation.

  • Escrow Accounts Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.