The proceeds from the offering will be deposited into a restricted account
from which proceeds will be released over specified time periods and based on the Company meeting certain milestones and conditions, and the Notes will be secured by such accounts but otherwise unsecured.
Supporters hoped that by limiting the scope of the measure and placing the money raised into a restricted account
, they could quell long-standing voter distrust about both the need for a tax increase and where, if approved, the money generated would go.
The restricted account
- around $70 million - is used to pay for fixed costs such as salaries and maintenance.
You can't just move funds around from a restricted account
to a general account.
The remaining 75% was put into a restricted account
and could not be sold for more than four years.
Virtually all the surviving mutuals had either bumped up their minimum account opening balances substantially, restricted account
applications to those living in their homeland, or asked new customers to sign away possible future windfalls to charity.
use designated contributions to the foundation (i) are placed in a restricted account
and (ii) are in fact used solely in the United States.
After this date, absent restricted account
replenishment, the coupon payment due on July 20, 2013 will not be met.
Wolf will do that by creating a dedicated revenue stream and depositing it in a restricted account
so politicians can no longer spend employees' pension savings at their whim.
Under the terms of the Unit Subscription Agreement (USA), the Investor's cash and the converted Common Shares are held in a restricted account
with an Intermediary where an Account Management Agreement (AMA) between the Investors, the Company and the Intermediary governs the release of funds to the Company from the restricted account
Restore the solvency of the Dog Law Restricted Account
, which was robbed of $4 million to balance the budget under the Rendell administration;
ADEQUATE LIQUIDITY: The unrestricted cash level is below that of other comparably rated systems, but this financial metric is offset by ample capital reserves accumulated as excess funds are moved to a restricted account
annually, and the stability of ongoing revenues.