Examples of Payment Subaccount in a sentence
In addition, prior to the allocation of any investment income pursuant to subparagraph 3.2.3, the Trustee shall deduct an amount equal to the estimated taxes owed on such earnings and deposit that sum into the Tax Payment Subaccount.
Prior to the Maturity Date, moneys in the District’s Payment Account and/or Payment Subaccount shall not be used to make such payments.
The amounts in this Tax Payment Subaccount shall be used for the express purpose of paying all applicable taxes with respect to the State Trust in a manner consistent with Paragraph 6.7. If at any time the funds on deposit in this Tax Payment Subaccount are insufficient to pay all Taxes then due and owing, the Trustee shall seek to resolve any dispute pursuant to the dispute resolution procedures of Paragraph 6.2.
The amounts in this Tax Payment Subaccount shall be used for the express purpose of paying all applicable taxes with respect to the Indian Tribe Mitigation Trust in a manner consistent with Paragraph 6.7. If at any time the funds on deposit in this Tax Payment Subaccount are insufficient to pay all Taxes then due and owing, the Trustee shall seek to resolve any dispute pursuant to the dispute resolution procedures of Paragraph 6.2.
The Distribution Account will have the following subaccounts: (i) the Bond Payment Subaccount – Interest; (ii) the Bond Payment Subaccount – Principal; (iii) the Bond Payment Subaccount – Holdback; and (iv) the Odd-Lot Subaccount.
Prior to the Maturity Date, moneys in the Local Agency’s Payment Account and/or Payment Subaccount shall not be used to make such payments.
Within the School Facilities Account, a Project Subaccount and an Incremental Payment Subaccount were created.
If, following a Valuation Date, the amount on hand in the Bond Payment Subaccount is insufficient to provide for the respective Next Levy Year Requirement, the Village may make an Additional Deposit at any time prior to the January 31st immediately following such Valuation Date into the Bond Payment Subaccount in an amount not to exceed the deficiency between the Next Levy Year Requirement and the amount on hand in the Bond Payment Subaccount.
Paying Agent and Lessee hereby agree that any property held in the Collection Fund and the Rental Payment Subaccount shall be treated as a financial asset under such section of the Commercial Code as corresponds with Section 8-102 of the Uniform Commercial Code, notwithstanding any contrary provision of any other agreement to which Paying Agent may be a party.
Subject to Section 3.05, all amounts from time to time on deposit in the Construction Payment Subaccount shall be available at all times to the Borrower to be applied solely for the payment when due of Project Costs.