Common use of Bond Proceeds Clause in Contracts

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.”