PLEDGE OF THE RESERVE FUND Sample Clauses

PLEDGE OF THE RESERVE FUND. The VSBFA pledges the funds in the Reserve Fund to be available to pay Claims pursuant to Section 5.3. The VSBFA further pledges that the Lender shall have a first security interest in the funds in the Reserve Fund to pay Claims pursuant to Section 5.3 and the VSBFA will not encumber or pledge the funds to any other party. This pledge does not, however, diminish the ownership or control of the Reserve Fund granted to the VSBFA in Section 5.2, and it shall not affect the VSBFA’s right to withdraw funds from the Reserve Fund pursuant to Section 5.2, Article VII or Article VIII.
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PLEDGE OF THE RESERVE FUND. IBGC pledges the funds in the Reserve Fund to be available to pay Claims pursuant to Section
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PLEDGE OF THE RESERVE FUND. The Center pledges the funds in the Reserve Fund to be available to pay Claims pursuant to Section 5.4. The Center further pledges that the Lender shall have a first security interest in the funds in the Reserve Fund to pay Claims pursuant to Section 5.4 and the Center will not encumber or pledge the funds to any other party. This pledge does not, however, diminish the ownership or control of the Reserve Fund granted to the Center in Section 5.2, and it shall not affect the Center's right to withdraw funds from the Reserve Fund pursuant to Section 5.2 or Article VII.
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PLEDGE OF THE RESERVE FUND. The MSF pledges the funds in the Reserve Fund to be available to pay Claims pursuant to Section 5.4. The MSF further pledges that the Lender shall have a first security interest in the funds in the Reserve Fund to pay Claims pursuant to Section 5.4 and the MSF will not encumber or pledge the funds to any other party. This pledge does not, however, diminish the ownership or control of the Reserve Fund granted to the MSF in Section 5.2, and it shall not affect the MSF's right to withdraw funds from the Reserve Fund pursuant to Section 5.2 or Article VI.
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PLEDGE OF THE RESERVE FUND. MBDC agrees that the funds in the Reserve Fund from time to time will be made available to pay Claims pursuant to Section 5.4, and MBDC will not encumber or pledge the funds to any other party. Nothing contained herein is intended to diminish the control of the Reserve Fund granted to MBDC in Section 5.2 or shall affect the rights of MBDC to withdraw funds from the Reserve Fund pursuant to Section 5.2 or Article VI. Any funds withdrawn from the Reserve Fund by MBDC in accordance with this Agreement shall no longer be subject to the agreement provided in the first sentence of this Article VIII.
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PLEDGE OF THE RESERVE FUND. BDC agrees that the funds in the Reserve Fund from time-to-time will be made available to pay Claims pursuant to Section 5.4, and BDC will not encumber or pledge the funds to any other party. Nothing contained herein is intended to diminish the control of the Reserve Fund granted to BDC in Section 5.2 or shall affect the rights of BDC to withdraw funds from the Reserve Fund pursuant to Section 5.2 or Article VI. Any funds withdrawn from the Reserve Fund by BDC in accordance with this Agreement shall no longer be subject to the agreement provided in the first sentence of this Article VIII.
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Related to PLEDGE OF THE RESERVE FUND

  • Reserve Funds Section 7.1.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Deposits into Escrow Account The Concessionaire shall deposit or cause to be deposited the following inflows and receipts into the Escrow Account:

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.

  • 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.

  • THE PROPERTY AND THE RESERVE PRICE 1.1 The property particulars of which are described in the Proclamation of Sale (“Property Details”) is put up for sale by way of Public Auction (“The Auction Sale”) subject to the reserve price as stated in the Proclamation of Sale (“Reserve Price”).

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • Special Account 1. For the purposes of this Schedule:

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

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