Interest Account definition

Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

Interest Account means the account by that name established and held by the Trustee pursuant to Section 4.03(a).

Interest Account means an interest-bearing account described as such in the name of the Issuer with the Account Bank into which Interest Proceeds are to be paid.

Examples of Interest Account in a sentence

• Any deficiency in the balance maintained in the Reserve Account shall be promptly made up from the next available Net Revenues remaining after credits into the Bond and Interest Account.

• If moneys in the Reserve Account are transferred to the Bond and Interest Account to pay principal and interest on outstanding bonds, then such depletion of the balance in the Reserve Account shall be made up from the next available Net Revenues after the credits into the Bond and Interest Account.

• There shall be set aside, transferred and deposited into the Sinking Fund from the General Account, as available and as hereinafter provided, a sufficient amount of the Net Revenues of the Sewage Works to meet the requirements of the Bond and Interest Account and the Reserve Account hereby continued in the Sinking Fund.

• Such‌payments shall continue until the balances in the Bond and Interest Account and the Reserve Account equal the principal of and interest on all of the then outstanding bonds of the Sewage Works to their final maturity and provide for payment of all fiscal agency charges.

• The City shall, from the sums deposited in the Sinking Fund and credited to the Bond and Interest Account, remit promptly to the registered owner or to the paying agent sufficient moneys to pay the interest and principal on the due dates thereof together with the amount of any paying agent or other fiscal agency charges.

More Definitions of Interest Account

Interest Account means the account by that name within the Bond Fund established pursuant to Section 5.02.

Interest Account means the interest-bearing account for the Trust’s assets maintained with the Depository pursuant to the Deposit Account Agreement.

Interest Account means the account by that name established in the Revenue Fund pursuant to Section 5.02.

Interest Account means an interest-bearing account of the Issuer with the Account Bank into which Interest Proceeds are to be paid.

Interest Account means a hypothetical investment account bearing interest at the rate of one hundred and twenty percent (120%) of the applicable federal long-term rate, compounded annually, and set as of the first day of each Plan Year.

Interest Account means the trust account by that name established in the Bond Fund pursuant to Section 6.01 hereof.

Interest Account shall have the meaning given to that term in Subparagraph 2.07(b).