Examples of Monthly Transfer Date in a sentence
Any amounts on deposit in the Major Maintenance Reserve Account in excess of the Major Maintenance Reserve Required Balance shall be transferred to the Revenue Account to be applied, on the next succeeding Monthly Transfer Date, pursuant to Section 5.03(b).
Any amounts on deposit in the O&M Reserve Account in excess of the O&M Reserve Required Balance shall, subject to Section 5.11(d) and Section 5.22(d), be transferred to the Revenue Account to be applied, on the next succeeding Monthly Transfer Date, pursuant to Section 5.03(b).
The Issuer shall on the Monthly Transfer Date transfer to the DSR Account a minimum amount corresponding to 1/3 of the quarterly interest on the Outstanding Bonds from time to time, until the total deposited amount on the DSR Account corresponds to the amount due on the next Interest Payment Date.
Any amounts on deposit in the O&M Reserve Account in excess of the O&M Reserve Required Balance shall, subject to Section 5.09(d) and Section 5.20(d), be transferred to the Revenue Account to be applied, on the next succeeding Monthly Transfer Date, pursuant to Section 5.03(b).
On each Monthly Transfer Date, so long as no Event of Default is continuing, the Indenture Trustee will disburse funds in the Debt Service Reserve Account upon the instructions of the Issuer in the following order of priority: • to the Senior Debt Account, to the extent such account would not otherwise be fully funded on such Monthly Transfer Date; and • to the extent remaining funds in the Debt Service Reserve Account exceed the amount required to be held therein, to the Collection Account.