9 ARTICLE V - REDEMPTION Sample Clauses

9 ARTICLE V - REDEMPTION. Section 501. Redemption. If the Company gives notice to the Issuer, the Depositary and the Purchaser pursuant to Article VIII of the Agreement that the Company has elected to cause redemption of the Bond in full or in part, all or such portion of the Bond will be deemed redeemed by the Issuer on the date indicated in such notice at a redemption price equal to the principal amount to be redeemed plus accrued interest on such principal amount to the redemption date. ARTICLE VI - THE ACQUISITION ACCOUNT Section 601. Creation; Deposits. A special account is hereby created with the Depositary and designated "Fulcrum Properties, L.P. Project Acquisition Account" (the "Acquisition Account"). Any moneys received by the Issuer or the Depositary on account of any advances under Section 404 will be deposited in the Acquisition Account. The moneys in the Acquisition Account will be held by the Depositary and will, subject to the provisions of Sections 605 and 606, be applied to the payment of Related Costs and, pending such application, will be subject to a lien in favor of the Purchaser. Section 602. Disbursements. The Depositary will make payments of Related Costs from the Acquisition Account, but only upon receipt of a requisition and certificate in the form of Exhibit B, signed by an Authorized Company Representative, stating to whom the payment is to be made, the general purpose for which the obligation to be paid was incurred, and that: (1) obligations in the stated amounts were incurred for Related Costs and are due and payable (or, if the Company is indicated as the payee, were duly paid by the Company) and that each item is a proper charge against the Acquisition Account and has not been the subject of a previous withdrawal from the Acquisition Account; (2) to the best knowledge of such Authorized Company Representative there has not been filed with or served upon the Issuer or the Company notice of any lien, right or attachment upon, or claim affecting the right of any such Persons to receive payment of, the respective amounts stated in such requisition which has not been released or will not be released simultaneously with the payment of such obligation; and (3) with respect to any item for payment for labor or to contractors, builders or materialmen, (i) the obligations stated have been properly incurred, (ii) to the best knowledge of such Authorized Company Representative, such work was actually performed or such materials or supplies were actually furnished or installed in or about the Project, and (iii) to the best knowledge of such Authorized Company Representative, either such materials or supplies are not subject to any lien or security interest or any such lien or security interest will be released or discharged upon payment of the requisition.
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