SUBFUNDS, ACCOUNTS AND SUBACCOUNTS Clause Samples

SUBFUNDS, ACCOUNTS AND SUBACCOUNTS. Section 3.01 Creation of Subfunds, Accounts and Subaccounts 17 Section 3.02 Pledged Revenues Account 18 Section 3.03 Construction Account 22 Section 3.04 Debt Service Accounts 24 Section 3.05 Capitalized Interest Accounts 28 Section 3.06 Debt Service Reserve Accounts 29 Section 3.07 Rebate Account 30 Section 3.08 Project O&M Account 31 Section 3.09 Project O&M Reserve Account 31 Section 3.10 Ramp Up Reserve Account 32 Section 3.11 Project Renewal and Replacement Account 33 Section 3.12 Project Renewal and Replacement Reserve Account 33 Section 3.13 TIFIA Loans Prepayment Account 35 Section 3.14 Surplus Account 35 Section 3.15 Investment of Moneys 36 ARTICLE IV REPRESENTATIONS AND COVENANTS OF TRANSPORTATION ENTERPRISE Section 4.01 Representations 37 Section 4.02 Coverage Test 37 Section 4.03 Operation and Maintenance of Project 39 Section 4.04 Limitation on Project O&M Expenses 39 Section 4.05 Sale or Transfer of Pledged Revenues 40 Section 4.06 Annual Engineer’s Report 40 Section 4.07 Qualification as Government-Owned Business within CDOT and as an Enterprise 40 Section 4.08 Tax Covenant 40 Section 4.09 Credit Facilities and Hedge Facilities 41 Section 4.10 Annual Project Budget 41 Section 4.11 Accounts and Reports 42 Section 4.12 Funding TIFIA Loans Debt Service Reserve Account 42 Section 4.13 Payment of Lawful Claims 42 Section 4.14 Compliance with Law 42 Section 4.15 Defense of Trust Estate 42 Section 4.16 Continuing Disclosure 43 Section 4.17 State and Local Funds 43 Section 4.18 Insurance 43 Section 4.19 Events of Loss; Loss Proceeds 43 Section 4.20 CDOT O&M Loans 44 Section 4.21 Tolling Agreement 44 Section 4.22 Direct Agreement 45 Section 5.01 Indenture Event of Default 45 Section 5.02 Remedies Following an Indenture Event of Default 46 Section 5.03 Use of Moneys Received from Exercise of Remedies 47 Section 5.04 Owners of Majority of Bond Ownership Rights and the TIFIA Lender May Control Proceedings 49 Section 5.05 Limitations on Rights of Owners Acting Individually 50 Section 5.06 Trustee May Enforce Rights Without Bonds 50 Section 5.07 Trustee to File Proofs of Claim in Receivership, Etc. 50 Section 5.08 Delay or Omission No Waiver 50 Section 5.09 Discontinuance of Proceedings on Indenture Event of Default; Position of Parties Restored 51 Section 5.10 Waivers of Indenture Events of Default 51
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Related to SUBFUNDS, ACCOUNTS AND SUBACCOUNTS

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Collateral Accounts (a) The Trustee is authorized to receive any funds for the benefit of the Holders distributed under, and in accordance with, the Collateral Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture, the Collateral Documents and the Intercreditor Agreement. (b) Prior to the Issue Date, the Trustee shall have established the Collateral Accounts, which shall at all times hereafter until this Indenture shall have terminated, be maintained with, and under the sole control of, the Trustee. The Collateral Accounts shall be trust accounts and shall be established and maintained by the Trustee at one of its corporate trust offices (which may include the New York corporate trust office) and all Collateral shall be credited thereto. All cash and Cash Equivalents received by the Trustee from Asset Dispositions of Collateral, Recovery Events, Asset Swaps involving the transfer of Collateral, foreclosures of or sales of the Collateral, issuances of Additional Securities and other awards or proceeds pursuant to the Collateral Documents, including earnings, revenues, rents, issues, profits and income from the Collateral received pursuant to the Collateral Documents, shall be deposited in the First Priority Collateral Account, in the case of proceeds from First Priority Collateral, or in the Second Priority Collateral Account, in the case of proceeds from Second Priority Collateral, and thereafter shall be held, applied and/or disbursed by the Trustee in accordance with the terms of this Indenture (including, without limitation, Section 2.1(a), Section 3.5, Section 6.10 and Section 11.8(a). In connection with any and all deposits to be made into the Collateral Accounts under this Indenture, the Collateral Documents or the Intercreditor Agreement, the Trustee and/or the Collateral Agent, as applicable, shall receive an Officers’ Certificate identifying which Collateral Account shall receive such deposit and directing the Trustee and/or the Collateral Agent to make such deposit. (c) Pending the distribution of funds in the Collateral Account in accordance with the provisions hereof and provided that no Event of Default shall have occurred and be continuing, the Company may direct the Trustee to invest such funds in Cash Equivalents specified in such direction, such investments to mature by the times such funds are needed hereunder and such direction to certify that such funds constitute Cash Equivalents and that no Event of Default shall have occurred and be continuing. So long as no Event of Default shall have occurred and be continuing, the Company may direct the Trustee to sell, liquidate or cause the redemption of any such investments, such direction to certify that no Event of Default shall have occurred and be continuing. Any gain or income on any investment of funds in the Collateral Account shall be credited to the Collateral Account. The Trustee shall have no liability for any loss incurred in connection with any investment or any sale, liquidation or redemption thereof made in accordance with the provisions of this Section 11.8(c).

  • Management Accounts To the extent that it owns any Management Account (including any lock-box related thereto), each Guarantor shall comply with Section 5.1 of the Base Indenture with respect to each such Management Account (including any lock-box related thereto).

  • Administrative Accounts In connection with the services provided hereunder, the Custodian is hereby directed to open cash accounts on its books and records from time to time for the purposes of receiving subscriptions and/or processing redemptions on behalf of the Fund and/or for the purposes of aggregating, netting and/or clearing transactions (including, without limitation foreign exchange, repurchase agreements, capital stock activity, expense payment) or other administrative purposes, each on behalf of the Fund (each an “Account”). Each such Account shall be subject to the terms and conditions of this Agreement and the Fund shall be liable for the satisfaction of its obligations in connection with each Account.

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.