Proceeds Fund definition

Proceeds Fund means the Proceeds Fund created under the Program Resolution.

Proceeds Fund means the Proceeds Fund established by Section 4.

Proceeds Fund means the fund so designated, created and established pursuant to Section 5.02 hereof.

Examples of Proceeds Fund in a sentence

• If amounts in the Proceeds Fund are not sufficient to pay the Costs of the Projects in full, the Borrower shall pay all costs of completing such Projects from its own funds or shall arrange alternative financing therefor, or may elect not to complete the Projects that cannot be completed with funds in the Proceeds Fund, but in any case without any diminution or postponement of any Loan Payment or Additional Payment and without any right of reimbursement from the Issuer or the Bond Trustee.

• All amounts held for the credit of the Proceeds Fund shall be invested and disbursed solely as provided in the Series 2022A Bond Indenture.

• Disbursements will be made from the Proceeds Fund to pay or reimburse the Costs of the Projects subject to the terms and conditions set forth in the Series 2022A Bond Indenture.

• The Borrower hereby grants to the Bond Trustee, for the benefit of the Persons secured by the lien of the Series 2022A Bond Indenture, a security interest in the Proceeds Fund and all money, securities, and obligations held for the credit thereof as security for payment of the Series 2022A Loan Payments, the other amounts required to be paid by the Borrower pursuant to this Article, and any Reimbursement Obligations.

More Definitions of Proceeds Fund

Proceeds Fund means the proceeds fund formed under the Constitution and includes:

Proceeds Fund means the fund by that name established in Section 3.02.

Proceeds Fund means the fund so designated, created and established pursuant to the section of the Indenture described herein under “Establishment of Funds and Accounts”.

Proceeds Fund means the fund so designated and established pursuant to Section 3.02. “Qualified Reserve Account Credit Instrument” means an irrevocable standby or direct-pay letter of credit or surety bond issued by a commercial bank or insurance company and deposited with the Trustee pursuant to Section 5.05, provided that all of the following requirements are met as of the time of delivery thereof to the Trustee:

Proceeds Fund means the Fund created and so designated in the Indenture.

Proceeds Fund means the fund by that name established in the Trust Agreement for the deposit of net proceeds of the Note Participations.

Proceeds Fund means the fund by that name established in Section 3.02 for the payment of principal with respect to the Note Participations.