Examples of Closing Costs Fund in a sentence
Amounts on deposit in the Funding Loan Payment Fund, Expense Fund, Rebate Fund and Closing Costs Fund shall be invested in Permitted Investments directed in writing by the Borrower and approved in writing by the Funding Lender.
Any moneys remaining in the Closing Costs Fund (including investment proceeds) after the earlier of (i) the payment of all costs of issuance as certified in writing to the Fiscal Agent by the Borrower or (ii) a period of five months after the Closing Date, shall be paid to the Borrower Equity Account of the Project Fund and the Closing Costs Fund shall be closed.
All money required to be deposited with or paid to the Fiscal Agent for the account of any of the funds or accounts created by this Funding Loan Agreement (except the Closing Costs Fund, the Expense Fund and the Rebate Fund) shall be held by the Fiscal Agent for the benefit of the Funding Lender, and shall, while held by the Fiscal Agent, constitute part of the Pledged Revenues and be subject to the lien hereof.
Any interest earnings on amounts on deposit in the Closing Costs Fund shall remain in the Closing Costs Fund.
Investment Income earned on amounts on deposit in each account of the Funding Loan Payment Fund, Expense Fund, Rebate Fund and Closing Costs Fund shall be retained in and credited to and become a part of the amounts on deposit in that account of the Funding Loan Payment Fund, Expense Fund, Rebate Fund and Closing Costs Fund.