GCF Account definition

GCF Account means the separate bank or ledger account (as expressly specified in an FAA) acceptable to the Fund, which shall be interest bearing in accordance with any interest policies of the Accredited Entity, and to be established by the Accredited Entity to, as applicable, record, receive, hold and administer GCF Proceeds and Other GCF Funds;
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GCF Account means the trust fund or trust funds to be established by the World Bank in its capacity as accredited entity of the Fund to, as applicable, record, receive, hold in trust and administer GCF Proceeds and Other GCF Funds that are separate from the Accredited Entity’s own funds;
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Examples of GCF Account in a sentence

  • The Accredited Entity shall ensure that GCF Proceeds and Other GCF Funds are, unless otherwise agreed, held or recorded in a GCF Account in a GCF Holding Currency until they are expended for individual Funded Activities.

  • Unless Reflowed Funds are paid directly to the Fund via the Trustee (or such other entity or account as the Fund may designate), the Accredited Entity shall hold or record any Reflowed Funds (following their receipt by the Accredited Entity) in the GCF Account and, immediately following such receipt or as per the schedule agreed with the Fund, notify the Fund and transfer the Reflowed Funds to the Fund via the Trustee (or such other entity or account as the Fund may designate).

  • The Accredited Entity will not withhold any amount for Taxes from any Investment Income, unused funds or any assets held in the GCF Account, to be transferred from the Accredited Entity to the Fund.

  • Investment Income shall be held or recorded by the Accredited Entity in the GCF Account until such Investment Income is to be transferred to the Fund via the Trustee (or such other entity or account as the Fund may designate) in accordance with the relevant FAA or as the Fund may otherwise request.

  • For the avoidance of doubt, the GCF Account for the Funded Activity will be a ledger account.

  • In the case of funds received by the Accredited Entity in a currency other than the holding currency of the GCF Account, promptly upon the receipt of such amounts, the Accredited Entity shall convert such amounts into the holding currency of the GCF Account at the exchange rate obtained by the Accredited Entity on the date of the conversion.

  • An indicative disbursement schedule by the Accredited Entity indicating month and year for the disbursement of the GCF Proceeds by the Fund to the GCF Account for the implementation of the Funded Activity.

  • Proposed Flow of Funds Regime Figure 2: Flow of GCF Funding The GCF Proceeds will be made available by GCF to the GCF Account to be opened and held by DBSA, in accordance with the FAA.

  • For managing the GCF resources, a GCF Account will be set-up within the AfDB as a stand-alone facility and the Bank’s role will be to administer the funds.

  • UNDP maintains a GCF Account to receive, hold, and administer GCF funds.

Related to GCF Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Note Account As defined in the Indenture.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Investment Account As defined in Section 3.12(a).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.