Proceeds Fund definition
Examples of Proceeds Fund in a sentence
Proceeds that exceed $10,000 shall be deposited in the Insurance and Condemnation Proceeds Fund and expended as provided in Sections 6.04 or 4.04, as applicable, of the Indenture.
Earnings on investments held in the Insurance and Condemnation Proceeds Fund shall be retained therein to be applied in accordance with this Section 6.04.
The Trustee will deposit these funds into the Insurance and Condemnation Proceeds Fund established at that time by the Trustee.
If after completion of any such repairs or replacements, any funds remain in the Insurance and Condemnation Proceeds Fund, the remaining funds shall be transferred by the Trustee to the Redemption Fund and used to prepay the Loan and to redeem Bonds pursuant to Section 4.04; provided, however, such remaining funds shall first be paid to the Borrower in an amount not to exceed the amount paid by the Borrower, if any, to cover any shortfall.
The proceeds of the Capital C&E Funding Cash Payment paid by Cash Allottee to the WGFP Enterprise pursuant to the WGFP Allotment Contract shall be deposited in the [Name of Cash Allottee] Proceeds Fund and applied to the Cash Allottee’s Capital Funding Obligations set forth under the WGFP Allotment Contract.