Use of Moneys in Sinking Fund Account Sample Clauses

Use of Moneys in Sinking Fund Account. (i) If, following the deposit of any Sinking Fund Amount into the Sinking Fund Account, the Loan Life Coverage Ratio is less than 1.30:1:00 for six (6) consecutive Calculation Dates, Concessionaire shall instruct the Security Trustee to withdraw funds equal to such Sinking Fund Amount (but not any Sinking Fund Amount subsequently deposited into the Sinking Fund Account) from the Sinking Fund Account and apply such funds to the prepayment of Senior Obligations and TIFIA Phase 2 Obligations as follows: (i) first, to the payment of outstanding Senior Bond Obligations and TIFIA Phase 1 Obligations on a pro rata basis (based on amounts outstanding) and (ii) second, to the payment of outstanding TIFIA Phase 2 Obligations. Any such amounts to be applied to the prepayment of TIFIA Phase 1 Obligations or TIFIA Phase 2 Obligations shall be transferred to the TIFIA Phase 1 Prepayment Account or the TIFIA Phase 2 Prepayment Account, as applicable, and applied in accordance with Section 4.18 and Section 4.19, as applicable, of this Agreement. Any such amounts to be applied to the prepayment of Senior Bond Obligations shall be transferred to the Bonds Redemption Account and applied in accordance with Section 4.25.
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Related to Use of Moneys in Sinking Fund Account

  • No Sinking Fund No sinking fund shall be established for the retirement or redemption of Series A Preferred Units.

  • Mandatory Sinking Fund Redemption The $ Term Bonds maturing on August 1, 20 , are subject to mandatory sinking fund redemption on each Redemption Date in the respective principal amounts as set forth in the following schedule, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, together with interest accrued thereon to the date fixed for redemption: Mandatory Sinking Fund Redemption Date (August 1) Principal Amount to be Redeemed

  • Sinking Fund The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

  • Application of Moneys All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:

  • For Force Account or Indefinite Amount Change Order The payment and extension of time (if any) provided by this Change Order constitutes interim compensation to the Contractor and its Subcontractors and Suppliers for actual costs and markups directly and indirectly attributable to the Change Order herein, for all delays related thereto and for performance of changes within the time stated.

  • Sufficiency of Moneys The Recipient has sufficient moneys in addition to those granted to Recipient pursuant to Section II of this Agreement to fund the Project to completion;

  • Currencies of Tender and Payment 14.1 The currency (ies) of the Tender, the currency (ies) of award and the currency (ies) of contract payments shall be the same.

  • Payments Deemed Held in Trust Any Holder who receives a payment on a Note while an Event of Default remains in eRect with respect to such Note in excess of the amount such Holder should have received shall be deemed to be holding such excess in trust for the benefit of other Holders and the Representative, and shall return such excess on demand.

  • Execution, Authentication, Availability and Dating of the Residual Certificates The Residual Certificates shall be executed on behalf of Xxxxxx Mae by an Authorized Officer of Xxxxxx Xxx under the corporate seal of Xxxxxx Mae, which may be in facsimile form and be imprinted or otherwise reproduced thereon, and shall be attested by the Secretary, Assistant Secretary, or a second Authorized Officer of Xxxxxx Xxx. The signature of any of these Persons on the Residual Certificates may be manual or facsimile. A Residual Certificate bearing the manual or facsimile signature of individuals who were at any time officers of Xxxxxx Mae shall bind Xxxxxx Xxx, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificate or did not hold such offices at the date of such Certificate. At any time and from time to time after the execution and delivery of this Trust Agreement, Xxxxxx Mae may deliver Residual Certificates executed by Xxxxxx Xxx to the Certificate Registrar for authentication and the Certificate Registrar shall authenticate and make available such Certificates as provided in this Trust Agreement and not otherwise. No Residual Certificate shall be entitled to any benefit under this Trust Agreement or be valid for any purpose, unless there appears on such Residual Certificate a certificate of authentication substantially in the form provided for herein, executed by the Certificate Registrar by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Residual Certificate shall be conclusive evidence, and the only evidence, that such Residual Certificate has been duly authenticated and made available hereunder. Each Residual Certificate shall be dated the date of its authentication.

  • Payment of Monies Any other monies payable under this Agreement, unless otherwise specified in this Agreement, shall be paid by wire transfer.

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