Bond Proceeds. As of the Closing Date, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary and prudent to authorize the Bonds; and (ii) demonstrated that such Bonds shall be issued within 30 days after Closing and the proceeds available to Developer within seven (7) days of the Bonds being issued; and, as of the Closing Date, Developer, exercising commercially reasonable discretion, shall have determined that the proceeds of the Bonds shall be no less than the Bond Proceeds and available for Developer for the purposes set forth in this Agreement.
Bond Proceeds. The Authority will apply the proceeds of the Bonds in accordance with the Indenture and as described in the Preliminary Official Statement and Official Statement
Bond Proceeds. On or before the Closing Date, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary to authorize the Bonds; and
Bond Proceeds. As of the Closing Date, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary and prudent to authorize the Bonds and have commenced the approval process for the MFB Project Bonds; (ii) demonstrated that such Bonds shall be issued and the Retail Bonds Proceeds shall be made available to Developer within fifteen (15) days after the Closing Date; and (iii) demonstrated that MFB Project Bonds are anticipated to be issued and the MFB Bond Proceeds are anticipated to be available within sixty (60) days of the Closing Date.”
Bond Proceeds. If and to the extent that funds are deposited into the Construction Fund under and as defined in the Tax-Exempt Bond Documents, the Borrower shall requisition funds from time to time in accordance with the provisions of the Tax-Exempt Bond Documents and shall cause such funds to be deposited into the Tax-Exempt Bond Proceeds Sub-Account and shall thereafter apply such amounts solely to the payment of Project Costs (subject to the conditions to disbursement set forth in Section 3.1 of the Depositary Agreement).
Bond Proceeds. The Issuer will cause the Trustee to deposit into the Owner Project Account the Initial Allocated Proceeds Amount less the Owner’s Proportionate Share of the costs of issuance of the Series [ ] Bonds.
Bond Proceeds. As of the Bond Proceeds Date, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary and prudent to authorize the Bonds; and (ii) demonstrated that the Bond Proceeds shall be made available to Developer on or before the Bond Proceeds Date; and, as of the Bond Proceeds Date, Developer, exercising commercially reasonably discretion, shall have determined that the proceeds of the Bonds shall be no less than the Bond Proceeds and available to Developer for the purposes set forth in this Agreement.
Bond Proceeds. On or before the Phase One Bond Proceeds Date, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary and prudent to authorize the Phase One Bond Proceed Portion; and (ii) demonstrated that such Phase One Bond Proceed Portion shall be issued and the proceeds available to Developer on or before the Phase One Bond Proceeds Date; and, as of the Phase One Bond Proceeds Date, Developer, exercising commercially reasonable discretion, shall have determined that the proceeds of the Bonds shall be no less than the Bond Proceed Portion applicable to Phase One and available for Developer for the purposes set forth in this Agreement. Upon (x) receipt of a Bond Proceeds Notice for a subsequent Project Phase; (y) approval of Final Documents and Drawings for such subsequent Project Phase; and (z) demonstration that Developer has adequate funds to construct such subsequent Project Phase, City shall make available additional Bond Proceed Portions on or before the applicable Bond Proceeds Date consistent with the Funding Agreement
Bond Proceeds. As of the Closing, City Bodies, using commercially reasonable efforts, shall have: (i) taken all action necessary and prudent to authorize the Bonds and pledge the TIF Revenue to the repayment of the Bonds; and (ii) demonstrated that such Bonds shall be issued within thirty (30) days after Closing and the Bond Proceeds shall be made available to the Multi- Family Developer and Course Owner within seven (7) days of the Bonds being issued in accordance with the terms of the Funding Agreement(s); and, as of the Closing, Multi-Family Developer and Course Owner, at their commercially reasonable discretion, shall have determined that the proceeds of the Bonds shall be available to the Multi-Family Developer and Course Owner for the purposes set forth in this Agreement. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, as determined by either Multi-Family Developer and Course Owner, in their commercially reasonable discretion, then, as their sole and exclusive remedy, each of Multi-Family Developer and Course Owner may elect to: (i) waive in writing satisfaction of the conditions and proceed to the Closing; or (ii) terminate this Agreement and the Ancillary Agreements by a written notice to City provided that, with respect to breaches of this Agreement by City, each of the Multi- Family Developer and Course Owner shall have all of the rights and remedies set forth in this Agreement. Notwithstanding anything to the contrary set forth herein, (1) each of the Multi- Family Developer and Course Owner shall work diligently and in good faith to satisfy the conditions set forth in this Section; and (2) if either the Multi-Family Developer and Course Owner fails to terminate this Agreement for any unsatisfied condition on or before the earlier of (i) the Closing; or (ii) two (2) business days after the applicable deadline set forth in each of the foregoing subsections (a) or (b) the Multi-Family Developer or Course Owner Developer shall be deemed to have waived such condition.
Bond Proceeds. The Issuer covenants and agrees, upon the terms and conditions of this Agreement, to lend the proceeds received from the sale of the Bonds to the Company in order to redeem the Prior Bonds and to finance the Cost of the Project, Pursuant to said covenant and agreement, the Issuer will issue the Bonds upon the terms and conditions contained in the Indenture and this Agreement, and will lend the proceeds of the Bonds to the Company by causing the Bond proceeds to be applied as provided in Article III hereof, Such proceeds shall be disbursed by the Trustee to or on behalf of the Company as provided in Section 3.3 hereof.
