Transferred Proceeds Clause Samples
The Transferred Proceeds clause defines how funds or assets received from a specific transaction or event are to be handled and distributed between parties. Typically, this clause outlines the process for transferring proceeds from the seller to the buyer, or from one party to another, after the completion of a sale, settlement, or other triggering event. For example, it may specify the timing, method, and conditions under which the proceeds must be delivered, and may address deductions for fees or expenses. The core function of this clause is to ensure transparency and prevent disputes by clearly establishing the rights and obligations regarding the distribution of proceeds.
Transferred Proceeds. All of the sale and investment proceeds of the Refunded Agreement, including any investment proceeds therefrom, have been expended for the governmental purposes for which the Refunded Agreement was issued and delivered in accordance with the certificates and proceedings of the Lessee delivered in connection with the Refunded Agreement. There are no transferred proceeds (as defined in Treas. Reg. Section 1.148-9) of the Master Agreement from the Refunded Agreement.
Transferred Proceeds. As of the Issue Date, the following unspent proceeds of the Refunded Bonds remain: approximately $ in the debt service reserve fund for the Refunded Bonds. Upon discharge of the Refunded Bonds, a ratable portion of the remaining unspent proceeds of the Refunded Bonds will become “transferred proceeds” of the Bonds (within the meaning of Regulations § 1.148-9(b)).
Transferred Proceeds. There are no unspent proceeds (sale proceeds, investment proceeds or transferred proceeds) of the Refunded Bond. Therefore there are no transferred proceeds of the Note.
Transferred Proceeds. As of the Delivery Date, approximately $814,008.06 of proceeds of the Refunded Obligations remains on deposit in the reserve fund established for the Refunded Obligations. This amount will be used on March 15, 2017 together with proceeds of the Certificates and other money of the City to refund the Refunded Obligations. Therefore, as of the Delivery Date, the City does not expect that there will be any unspent proceeds of the Refunded Obligations after March 15, 2017, the redemption date of the Refunded Obligations, therefore, there are not expected to be any transferred proceeds of the Certificates.
Transferred Proceeds. This is not a refunding so there are no transferred proceeds. [Reg. 1.148-9]