Operation Fund definition
Examples of Operation Fund in a sentence
Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation Fund.
Whenever the amounts contained in the Bond Fund and Operation Fund are sufficient, together with any other funds deposited with the Trustee by the Issuer, to redeem, upon the next redemption date, all Bonds secured thereby then outstanding, the Trustee shall apply the amounts in such Funds to the redemption of such Bonds pursuant to Article V hereof.
There is hereby established and created a fund designated as the Operation Fund.
At the written request of an Authorized Issuer Representative delivered to the Trustee, the Trustee may remove funds from the Operation Fund to be used for the redemption of Bonds, or for the purchase of Bonds.
At the written direction of the Authority, the Trustee shall deposit such amount annually in the Rebate Fund from the Operation Fund or investment earnings on the Sinking Fund.