Operating Fund Clause Samples

Operating Fund. “Operating Fund” means a financial account specially designated to provide operating funds for the 800 MHz mixed mode radio systems.

Operating Fund. Balance available 1 January 201_ Miscellaneous income (specify) Subtotal Less: Expenditure a/ Staff and other personnel costs Travel on official business Contractual services Operating expenses Acquisitions Fellowships, grants, other Total expenditure b/ Balance available 31 December 201_

Operating Fund. HRTAC will hold the Operating Fund as a separate Fund for the purposes of paying Operating Expenses. Neither the Operating Fund nor any amount therein is pledged to secure the Bonds or the Subordinate Obligations. HRTAC shall pay Operating Expenses from the Operating Fund as they become due and in accordance with the purposes and amounts provided in the Annual Budget. In determining the balance on deposit in the Operating Fund for any purpose of this Master Indenture, there shall be deducted the amount of any issued but unpaid checks drawn against the Operating Fund. Investment earnings on amounts in the Operating Fund, if any, shall be transferred to the General Fund and applied for purposes of Section 8.6 below.

Operating Fund. Upon written notice by OHCS, which notice OHCS may give and retract from time to time at its sole, but reasonable discretion, the Owner will establish and maintain a Project Operating Income and Expense Fund (the “Operating Fund”) with a depository approved in writing by OHCS (and acceptable to the Lender during the period of the Loan). The processes otherwise allowed in the Loan Documents for the deposit and expenditure of Operating Income will be deemed permissible under this Agreement unless and until the Owner is notified by OHCS that it must implement the Operating Fund. Upon written notice by OHCS, all Operating Income will be deposited immediately in the Operating Fund, and Owner will promptly pay all Operating Expenses out of this Operating Fund. No other use of the Operating Fund deposits or the moneys required to be placed therein, including the distribution of Excess Revenues, may be made by Owner without prior written approval of OHCS. The Operating Fund must be held with the Lender so long as any loan secured by the Bank Deed of Trust remains outstanding.

Operating Fund. The Administrator shall instruct the Indenture Trustee to deposit into the Operating Fund the amount specified in each Supplemental Indenture from the Revenue Fund, and if necessary, from the Acquisition Fund pursuant to the Indenture. The Administrator shall also instruct the Indenture Trustee to use the funds in the Operating Fund to pay the Program Expenses of the Trust.

Operating Fund. Monies in the Operating Fund shall be used solely and exclusively for purposes of financing costs associated with the day-to-day, on-site management and operation of New Navigation Center, including such expenses as insurance, personnel, consumables, disposables, refuse disposal, utility costs, professional services providers, and exclusively for purposes of financing costs associated with the regular and routine maintenance, repair, or replacement of capital improvement associated with the New Navigation Center.

Operating Fund. The Fiscal Agent or Administrative Agency acting as the Fiscal Agent shall establish a fund which shall constitute the “operating fund of the Joint Board” for purposes of RCW 39.34.030(4)(b) and is herein referred to as the Operating Fund. All funds received on behalf of the Joint Board shall be deposited in the Operating Fund and all costs and reimbursements paid on behalf of the Joint board shall be paid from the Operating Fund. At the Fiscal Agent’s sole discretion, the Operating fund may be established as an administrative fund or sub-fund within an existing fund. The Parties agree that interest will not accrue on the Operating Fund.

Operating Fund. Monies on deposit in the Operating Fund shall be used for the payment of Operating and Maintenance Expenses. On any date after the Date of Commercial Operation of the Final Units that amounts for the payment of such expenses are due and payable and have been requisitioned in accordance with SECTION 3.1(B) (I) (Withdrawals from the Revenue Fund), the Collateral Agent shall, upon the request of the Partnership, withdraw the monies on deposit in the Operating Fund and remit such monies to the Partnership (or as otherwise directed by the Partnership) for the payment of such Operating and Maintenance Expenses. If monies in the Operating Fund (including the Major Maintenance Sub-Account) and the Local Accounts are insufficient on any date to make such payments with respect to Operations and Maintenance Expenses, then the Collateral Agent shall withdraw funds and pay such deficiency into the Operating Fund first from the Revenue Fund, then from the Distribution Suspense Account, then from the Partnership Distribution Fund, then from the Unrestricted Account, and lastly from the Subordinated Debt Account (to the extent funds are available in each such Fund or Account.

Operating Fund. PLANT OPERATOR shall, to the extent possible, pay operating expenses out of available operating revenues. PLANT OPERATOR may keep on hand an operating fund in an amount equal to two (2) month's anticipated operating costs as set forth in an Approved Annual Budget By Month. When required in the reasonable judgement of PLANT OPERATOR, PLANT OWNERS will advance, for an operating fund, their respective shares of an amount not to exceed two (2) month's anticipated operating costs as set forth in an Approved Annual Budget By Month. After the establishment of the operating fund, PLANT OWNERS shall remit their share of actual costs and expenses in accordance with each Month's billing, thus maintaining the operating fund intact. Should it be determined by the PLANT OPERATOR that the Plant Account contains excess funds, a distribution will be made to PLANT OWNERS proportionate to their PLANT ownership percentage.