Common use of Authority Contribution Amount Clause in Contracts

Authority Contribution Amount. The Authority Contribution Amount shall be funded by the Authority as follows: (i) On the Initial Authority Contribution Date and on or before the [third] Business Day after the [22nd] day of each calendar month thereafter until the Final Authority Contribution Date, the Authority shall deposit into the Construction Funds Trust, for allocation to the Project Account established for deposit of the Authority Contribution Amount (the “Authority Contribution Trust Account”), the money generated by the tax imposed pursuant to Section 33(1) of the Act before the issuance of the County Bonds, net of (A) any amounts required by the County to be used to fund reserves or other amounts pursuant to Section 34(2)(b) of the Act and (B) any amounts permitted to be paid pursuant to Section 34(2)(c) of the Act.1 Such deposits shall be made by wire transfer of federal funds. (ii) On the Final Authority Contribution Date, the Authority shall deposit the balance of the Authority Contribution Amount into the Authority Contribution Trust Account. Such deposit shall be made by wire transfer of federal funds.

Authority Contribution Amount. The Authority Contribution Amount shall be funded by the Authority as follows: (i) On the Initial Authority Contribution Date and on or before the [third] Business Day after the [22nd] day of each calendar month thereafter until the Final Authority Contribution Date, the Authority shall deposit into the Construction Funds Trust, for allocation to the Project Account established for deposit of the Authority Contribution Amount (the “Authority Contribution Trust Account”), the money generated by the tax imposed pursuant to Section 33(1) of the Act before the issuance of the County Bonds, net of (A) any amounts required by the County to be used to fund reserves or other amounts pursuant to Section 34(2)(b) of the Act and (B) any amounts permitted to be paid pursuant to Section 34(2)(c) of the Act.1 Act. Such deposits shall be made by wire transfer of federal funds. (ii) On the Final Authority Contribution Date, the Authority shall deposit the balance of the Authority Contribution Amount into the Authority Contribution Trust Account. Such deposit shall be made by wire transfer of federal funds.