Examples of Reserve Subaccount in a sentence
Insurance Policy for Transportation Facilities Projects Revenue Bonds, Series 2008; Second Supplemental Trust Agreement dated as of March 1, 2008 For the purpose of substituting the moneys on deposit in the Reserve Subaccount securing the Series 2008 Bonds with a surety policy as permitted by Section 4.02 of the First Supplemental Agreement, the MDTA executed and delivered the Second Supplemental Trust Agreement dated as of April 29, 2008.
Pursuant to Revenue Procedure 2005-61 issued by the Internal Revenue 782 Service dated September 12, 2005, (and/or other applicable Internal Revenue Service 783 guidance), PSNH will capitalize the SPSE in an amount anticipated to be at least 0.50% of the 784 initial principal balance of RRBs. These funds will be deposited in the Reserve Subaccount 785 (see Section IX(D)(5)(b)).
Money in the Class 1 Senior Liquidity Reserve Subaccount may be applied to the redemption of Outstanding Class 1 Senior Bonds in accordance with paragraph (j) of this Section 5.06.
The provisions applicable to the Debt Service Reserve Account shall be applicable to the Debt Service Reserve Subaccount except that such Subaccount shall secure only the Bonds issued hereunder.
Any money remaining in the Class 1 Senior Liquidity Reserve Subaccount after its application pursuant to Section 5.06(j) shall be transferred to the First Subordinate Redemption Account or, but only if there shall be no Senior Bonds and First Subordinate Bonds then Outstanding, to the Second Subordinate Turbo Redemption Account, to be applied on the succeeding Distribution Date in accordance with paragraph (d) of this Section 5.06.