Matching Fund Receipts definition

Matching Fund Receipts means the amounts paid and to be paid by the U.S. Treasury through the Secretary of DOI as a transfer of federal excise taxes imposed and collected under the Code in any fiscal year on rum produced in the Virgin Islands and exported to the United States and that is subject to federal excise tax pursuant to 26 USC §7652, as amended from time to time.
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Matching Fund Receipts means the amounts paid or to be paid by the U.S. Treasury through the Secretary of the Department of the Interior as a transfer of federal excise taxes imposed and collected under the Tax Code in any Fiscal Year on rum produced in the Virgin Islands and exported to the United States and that is subject to federal excise tax pursuant to 29 United States Code §7652, whether such amounts are paid to the GVI Restricted Account as required by the Act and this Sale Agreement, deposited in a separate fund in the Virgin Islands treasury referred to in 26 United States Code §7652, or otherwise received by the Government in error.
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Matching Fund Receipts means the amounts paid and to be paid by the U.S. Treasury, through the Secretary of the United States Department of the Interior, to the Corporation, as a transfer of federal excise taxes imposed and collected under the Code in any Fiscal Year on rum produced in the Virgin Islands and exported to the United States that is subject to federal excise tax pursuant to the Matching Fund Act.
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Examples of Matching Fund Receipts in a sentence

  • The sale and conveyance of the Matching Fund Receipts pursuant to this chapter are exempt from all taxes and similar charges imposed by the Virgin Islands or any instrumentality of the Virgin Islands.

  • All operating and administrative expenses of the Corporation necessary for the proper business of the Corporation and budgeted at the time of the issuance of the Bonds or in any successive year and the costs of issuance and marketing of the Bonds must be paid by the Corporation out of the proceeds of the Bonds and the Matching Fund Receipts.

  • The sale and conveyance of the Matching Fund Receipts and the Related Rights pursuant to this chapter may not be subject to disavowal, disaffirmance, cancellation, or avoidance by reason of insolvency of any party, lack of consideration, or any other fact, occurrence, or Virgin Islands law, the United States Code or other law or rule.

  • On and after the effective date of the sale and conveyance of the Matching Fund Receipts and the Related Rights pursuant to this chapter, the Government has no right, title, or interest in or to the Matching Fund Receipts and the Related Rights conveyed, and the Matching Fund Receipts and the Related Rights so conveyed are the property of the Corporation.

  • Once sold pursuant to the Sale Agreement, only the Corporation or the Trustee may transfer Matching Fund Receipts from the GVI Restricted Account.

  • Choice of Law The law governing, as applicable, the validity, enforceability, attachment, perfection, priority and exercise of remedies with respect to the sale and conveyance of the Matching Fund Receipts and the Related Rights pursuant to this chapter or the creation of a security interest in, or lien on, the Trust Estate are the laws of the Virgin Islands.

  • In no event shall amounts paid to purchase the Matching Fund Receipts and the Related Rights be available or be applied for payment of the Matching Fund Securitization Bonds, the Subordinate Lien Bonds, the Residual Certificate, any claim against the Corporation, or any debt or obligation of the Corporation.

  • Prior to the sale, the U.S. Treasury shall first have acknowledged in writing that it will deposit Matching Fund Receipts directly into the GVI Restricted Account.

  • The transfer of the Government’s right, title and interest in and to the Matching Fund Receipts and the Related Rights to the Corporation or to any assignee pursuant to the Sale Agreement is irrevocable and is perfected, vested, valid and binding as against third persons having claims of any kind in tort, contract or otherwise against the Government, irrespective of whether the parties have notice thereof and are superior to any judicial liens or other liens obtained by the claimants or transferees.

  • The representations speak as of the Closing Date, and shall survive the sale of the Matching Fund Receipts and the Related Rights.


More Definitions of Matching Fund Receipts

Matching Fund Receipts means the amounts paid and to be paid by the U.S. Treasury through the Secretary of the DOI as a transfer of federal excise taxes imposed and collected under the Internal Revenue Code of 1986,11 as amended, in any Fiscal Year on rum
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Related to Matching Fund Receipts

  • Matching Funds means the amount and nature of the moneys or resources to be used by the Local Political Subdivision or Nonprofit Organization for the Project. Such funds shall constitute not less than twenty-five percent (25%) of the total Cost of Project set forth in Appendix D and may consist of money by any person, any Local Political Subdivision, the State of Ohio, or the federal government or of contributions in-kind by such parties through purchase or donation of equipment, land, easements, labor, or materials necessary to complete the Project.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Buydown Fund Account A separate account or accounts created and maintained pursuant to Section 3.02 (a) with the corporate trust department of the Trustee or another financial institution approved by the Master Servicer, (b) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a Servicer or (c) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. Such account or accounts may be non-interest bearing or may bear interest. In the event that a Buydown Fund Account is established pursuant to clause (b) of the preceding sentence, amounts held in such Buydown Fund Account shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Buydown Fund Account may be established.

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • the Independent Living Fund (2006 means the Trust of that name established by a deed dated 10th April 2006 and made between the Secretary of State for Work and Pensions of the one part and Margaret Rosemary Cooper, Michael Beresford Boyall and Marie Theresa Martin of the other part;

  • Excess Deferrals means, with respect to any taxable year of a Participant, either (a) those elective deferrals within the meaning of Code §§402(g) or 402A that are made during the Participant's taxable year and exceed the dollar limitation under Code §402(g) (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for such year; or (b) are made during a calendar year and exceed the dollar limitation under Code §§402(g) and 402A (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for the Participant's taxable year beginning in such calendar year, counting only Elective Deferrals made under this Plan and any other plan, contract or arrangement maintained by the Employer.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Plan Year means the calendar year.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employer Contributions means all amounts paid into ASRS by an

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.