MONEY HELD IN COST OF ISSUANCE FUND Sample Clauses

MONEY HELD IN COST OF ISSUANCE FUND. The Cost of Issuance Deposit shall be held in a fiscal agency capacity for the payment of the Costs of Issuance. Payments made from the Cost of Issuance Fund shall be made by check or wire transfer drawn on such trust account. All funds at any time and from time to time provided to or held by US Bank hereunder shall be deemed, construed, and considered for all purposes as being provided to or held by US Bank as fiscal agent for the District. US Bank acknowledges, covenants, and represents that it is acting herein in a fiscal agency capacity in relation to such funds, and is not accepting, holding, administering, or applying such funds as a banking depository, but solely as agent for and on behalf of the District pursuant to the terms of this Agreement. The District shall be entitled to the same preferred claim and first lien on the funds so provided as are enjoyed by the beneficiaries of trust funds generally. The funds provided to US Bank hereunder shall not be subject to warrants, drafts, or checks drawn by the District and, except as expressly provided herein, shall not be subject to compromise, setoff, or other charge or diminution by US Bank. US Bank shall be under no liability for interest on any money received by it hereunder.
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