Construction Fund. (a) The Paying Agent will deposit in the Construction Fund the amounts specified in Section 5(a)(i) and (b). (b) Within two Business Days after the deposit of a Purchase Price Installment in the Construction Fund, the Paying Agent will make the Disbursement from the Construction Fund to the Participant. (c) Investment earnings on moneys held in the Construction Fund will be deposited into the Construction Fund and then transferred to the Debt Service Fund pursuant to Section 6. (d) Investment earnings remaining in the Construction Fund on the Completion of Funding will be transferred to the Debt Service Fund.
Appears in 3 contracts
Sources: Escrow Trust Agreement, Escrow Trust Agreement, Escrow Trust Agreement
Construction Fund. (a) The Paying Agent will deposit in the Construction Fund the amounts amount specified in Section 5(a)(i) and (b).
(b) Within two Business Days after the deposit of a Purchase Price Installment in the Construction Fund, the Paying Agent will make the Disbursement from the Construction Fund to the Participant.
(c) Investment earnings on moneys held in the Construction Fund will be deposited into the Construction Fund and then transferred to the Debt Service Fund pursuant to Section 6.
(d) Investment earnings remaining in the Construction Fund on the Completion of Funding will be transferred to the Debt Service Fund.
Appears in 1 contract
Sources: Escrow Trust Agreement