Trust Fund Payment Sample Clauses

Trust Fund Payment. Within six (6) months of the Closing Date, Seller shall prepare and deliver to Buyer a statement (a "Trust Statement") setting forth, as of the Closing Date, any of (i) the market value of the assets in any trusts that relate to pre-need contracts performed prior to Closing, (ii) any investment income earned on assets in any trusts prior to the Closing, and (iii) any other amounts that Seller was legally entitled to withdraw from any trusts at or prior to, or as a result of circumstances occurring at or prior to, the Closing (including any amounts held solely because regulatory approval for withdrawal is required but has not been obtained or because such amount was not timely theretofore withdrawn) (collectively, the "Earned Amount"). If Buyer objects to the Seller's calculation of the amounts set forth in a Trust Statement, Buyer may, within thirty (30) days of delivery of the Trust Statement deliver a notice to Seller disputing the calculation and setting its calculations in respect thereof. If Buyer does not deliver such a notice within such time period, then Buyer shall be deemed to agree with Seller's calculations in all respects. The parties shall attempt to resolve any such dispute in good faith. If the parties are unable to resolve the dispute within thirty (30) days of the delivery of Buyer's objection, then the parties shall be free to pursue all rights and remedies available to them under applicable law. Buyer shall pay Seller the Earned Amount within five (5) days following the expiration of the above objection period or resolution of the dispute, as the case may be.
Sample 1
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Related to Trust Fund Payment

  • Sinking Fund Provisions No sinking fund provisions.

  • Satisfaction of Sinking Fund Payments with Securities The Company (i) may deliver Outstanding Securities of a series and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

  • Refund Policy After the cancellation period, the institution provides a pro rata refund of ALL funds paid for tuition charges to students who have completed 60 percent or less of the period of attendance. Once more then 60 percent of the enrollment period in the entire course has incurred (including absences), there will be no refund to the student. Application & Registration Fees are non refundable item. Books, supplies and any other items issued and received by the student would not be returnable. If you cancel the agreement, the school will refund any money that you paid, less any deduction for registration fee. If you withdraw from school after the cancellation period, the refund policy described above will apply. If the amount that you have paid is more than the amount that you owe for the time you attended, then a refund will be made within 45 days of the official withdrawal date. See Refunds section below. If the amount that you owe is more than the amount that you have already paid, then you will have to arrange with the institution to pay that balance. Official withdrawal date is on the student’s notification or school’s determination. If the student has received federal student financial aid funds, the student is entitled to a refund of moneys not paid from federal student financial aid program funds. Return of Title IV Special note to students receiving Unsubsidized/Subsidized/PLUS/Xxxxxxx loans, ACG/National SMART/Pell/SEOG grants or other aid, if you withdraw from school prior to the completion of the equivalent to 60 percent of the workload in any given semester, a calculation using the percentage completed will be applied to the funds received or that could have been receive that will determine the amount of aid the student earned. Unearned funds would be returned to the program in the order stated below by the school and/or the student. Student liability to loan funds will continue to be paid in accordance to the original promissory note terms. Funds owed by the student to the Grant programs are limited to 50% of the gross award per program received. Sample Calculation, completion of 25% of the semester earns only 25% of the aid disbursed or that could have been disbursed. If applicable, this would be the first calculation to determine the amount of aid that the student would be eligible for from the Title IV Financial Aid programs.

  • Redemption of Securities and Sinking Fund Provisions SECTION 3.01 Redemption............................................................................13 SECTION 3.02

  • Fund Personnel The Manager agrees to permit individuals who are officers or employees of the Manager to serve (if duly elected or appointed) as officers, directors, members of any committee of directors, members of any advisory board, or members of any other committee of the Corporation, without remuneration or other cost to the Fund or the Corporation.

  • Construction of the Agreement; Fund Participation Agreements The parties have entered into one or more Fund Participation Agreements between or among them for the purchase and redemption of shares of the Funds by the Accounts in connection with the Contracts. This Agreement supplements those Fund Participation Agreements. To the extent the terms of this Agreement conflict with the terms of a Fund Participation Agreement, the terms of this Agreement shall control.

  • Sinking Funds Unless specified on the face hereof, this Note will not be subject to, or entitled to the benefit of, any sinking fund.

  • Cancellation/Refund Policy A Student wishing to cancel an enrollment or withdraw may complete a Withdrawal/Cancellation Form. This form is available at xxx.XXX.xxx or from the Registrar located in Suite 203. Health Career Institute will refund monies paid by students in the following manner:  All monies will be refunded if the applicant is not accepted by the school or if the student cancels with in three (3) business days after signing the Enrollment Agreement and making payment.  Cancellation after the third (3rd) business day, but before the first day of class, will result in a refund of all monies paid with the exception of the non-refundable registration fee.  Any textbooks and uniform polo shirts that were issued must be returned to the school unused to receive the refund for those items.  Refunds will be made within 30 calendar days of date of the cancelation with proper submission of a Withdrawal/Cancellation Form by the student. Written notification may be submitted by email, fax or in person.  Refunds will be made within 30 calendar days of the first day of class if no written notification is provided by the student. Withdrawal Procedures

  • Rates and Payment You agree to pay the residence fees for the accommodation assigned to you, including where applicable, the size of the accommodation, according to the payment schedule attached hereto as Appendix IV. You may either pay the entire amount due or pay the residence fees in instalments, in the amounts and on the dates outlined in Appendix IV. If you choose or are required to change your accommodation, you will be required to pay the fees stipulated for the new accommodation, including the meal plan, if applicable. Failure to pay the first instalment of residence fees by or on the date it is due will lead to forfeiture of your accommodation assignment. Charges for residence fees will continue until you complete the contract termination and check out process in section 1.12. Please note that the following terms apply to all fees and payments required by Student Housing and Community Services (i.e.: residence fees, activities/programs, assessments, et cetera): • Post-dated cheques will not be accepted. • A $35 service charge will be levied on all cheques returned by your bank for any reason. • You will pay all fees that may be imposed by the University from time to time in respect of failed electronic financial transactions, including, without limitation, electronic funds transfers and Interac transactions where, after initial processing, the transaction is cancelled or voided due to insufficient funds. • Late payments may not be accepted. If a late payment is accepted, it will be subject to late payment fees as follows: » first late payment - $25 » second late payment - $25 » third late payment - $50 » fourth and any subsequent late payments $75 ea.

  • Refund Procedures Upon the termination of this Agreement or residence application by the Resident, as detailed in section 8.02, the Residence may be entitled to a partial refund of Residence Fees, without interest, within eight (8) weeks of the Resident vacating the Residence or cancelling their residence application. The refund will be in the form of a cheque mailed to the Resident’s permanent address on file in the Resident’s name only. If a student requires a cheque to be reissued as a result of the resident not providing an updated address prior to vacating residence and/or canceling their residence application, a charge of $50 may be applied. Refunds are issued based on the following:

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