Disbursements from and Records of Project Fund Sample Clauses

Disbursements from and Records of Project Fund. (a) Moneys in the Project Fund shall be disbursed for the costs of the Project Facilities and for costs of issuance in accordance with the provisions of this Section 5.3. The Trustee shall cause to be kept and maintained accurate records pertaining to the Project Fund and all investments and disbursements of moneys in the Project Fund. After the Project Facilities have been completed and a Certificate of Acceptance (as defined below) with respect thereto is filed as referred to in Section 5.3(c) hereof, the Trustee shall retain copies of the records pertaining to the Project Fund and disbursements therefrom for inspection upon request of the Corporation or the County for a period ending five years from the date of such Certificate.
Sample 1Sample 2
AutoNDA by SimpleDocs
Disbursements from and Records of Project Fund. (a) Requisition, moneys in the various Accounts and Subaccounts within the Project Fund shall be disbursed in accordance with the provisions of such Requisition. The Trustee shall cause to be kept and maintained adequate records pertaining to the Project Fund and all disbursements therefrom. The Trustee shall make such records available for inspection by, or shall provide copies thereof to, the Issuer, the Company and the Agent upon request. The Trustee shall serve as repository for all original Requisitions submitted for disbursements from the Project Fund.
Sample 1
Disbursements from and Records of Project Fund. (a) Moneys in the Project Fund shall be disbursed for a portion of the costs of the Project Facilities or the payment of Base Lease Rent in accordance with the provisions of this Section 5.3. [The City will provide approximately $ of its own funds to defray a portion of the costs of the Project Facilities.]
Sample 1
Disbursements from and Records of Project Fund. 45 SECTION 4.03.
Sample 1
Disbursements from and Records of Project Fund. Moneys in the Project Fund shall be disbursed in accordance with the provisions of the Reimbursement Agreement and the Building Loan Agreement. The Trustee is hereby authorized to make each disbursement required by the provisions thereof. Disbursements from the Project Fund shall be made only to reimburse or pay the Company, or any person designated by the Company, for the Project Costs. Any disbursements from the Project Fund for the payment of Project Costs shall be made by the Trustee only upon the written order signed by the Designated Representative and approved by the Bank. Each such written order shall be in substantially the form of the disbursement request attached as Schedule "D" to the Building Loan Agreement, shall be consecutively numbered and may be accompanied by invoices or other documentation supporting the payments or reimbursements requested. That amount shall be released to the Company, or the person designated by the Company, upon receipt by the Trustee of a written direction from the Bank to release that amount. Any moneys remaining in the Project Fund after the payment in full of the Project Costs and after any required transfer to the Rebate Fund in accordance with the provisions of the Tax Regulatory Agreement and Section 5.05 hereof, promptly shall be used to redeem the Bonds in accordance with the provisions of Section 8.01 hereof. The Trustee shall cause to be kept and maintained adequate records pertaining to the Project Fund and all disbursements therefrom. If reasonably requested by the Company, the Trustee shall file copies of the records pertaining to the Project Fund and disbursements therefrom with the Company. The completion of the Project and payment of all Project Costs shall be evidenced by the filing with the Trustee of a certificate signed by the Designated Representative as provided in Section 4.4 of the Agreement and approved by the Bank directing the use of all remaining moneys in the Project Fund. That certificate may state that it is given without prejudice to any rights against third parties which then exist or subsequently may come into being. Pending disbursement pursuant to the Agreement, the moneys and investments to the credit of the Project Fund shall constitute a part of the Revenues in which the Trustee has a security interest hereunder as security for the payment of the Bond Service Charges.
Sample 1
Disbursements from and Records of Project Fund. Moneys held in the Project Fund representing proceeds of the sale of the Project Bonds shall be disbursed by the Trustee in accordance with the provisions of the Agreement to the Prior Bonds Trustee, to be used together with other moneys provided by the Borrower to pay and redeem in whole the Prior Bonds. The Trustee shall cause to be kept and maintained adequate records pertaining to the Project Fund and all disbursements therefrom. If requested by the Bank, the Issuer or the Borrower, the Trustee shall file copies of the records pertaining to the Project Fund and all disbursements from such fund with the Bank, the Issuer and the Borrower. Upon the occurrence and continuance of an Event of Default hereunder because of which the principal amount of the Bonds has been declared to be due and payable immediately pursuant to Section 7.03 hereof, any moneys remaining in the Project Fund shall be promptly transferred by the Trustee to the Bond Fund.
Sample 1
Disbursements from and Records of Project Fund. Moneys in the Project Fund shall be disbursed in accordance with the provisions of the Agreement and Section 2.03(c)(i) hereof. The Trustee shall cause to be kept and maintained adequate records pertaining to the Project Fund and all disbursements therefrom and shall provide monthly statements as to the accounts held hereunder to the Company. Unless otherwise provided in the applicable Bond Legislation or Supplemental Indenture, this Section shall apply to the disbursement of the proceeds of any issue of Additional Bonds.
Sample 1
AutoNDA by SimpleDocs

Related to Disbursements from and Records of Project Fund

  • Disbursements from the Escrow Account a. At such time as Escrow Agent has collected and deposited instruments of payment in the total amount of the Advance and has received such Common Stock via D.W.A.C from the Company which are to be issued to the Investor pursuant to the Standby Equity Distribution Agreement, the Escrow Agent shall notify the Company and the Investor. The Escrow Agent will continue to hold such funds until the Investor and Company execute and deliver a Joint Written Direction directing the Escrow Agent to disburse the Escrow Funds pursuant to Joint Written Direction at which time the Escrow Agent shall wire the Escrow Funds to the Company. In disbursing such funds, Escrow Agent is authorized to rely upon such Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Investor that Escrow Agent already has on file. Simultaneous with delivery of the executed Joint Written Direction to the Escrow Agent the Investor and Company shall execute and deliver a Common Stock Joint Written Direction to the Escrow Agent directing the Escrow Agent to release via D.W.A.C to the Investor the shares of the Company's Common Stock. In releasing such shares of Common Stock the Escrow Agent is authorized to rely upon such Common Stock Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Escrow Agent has on file. In the event the Escrow Agent does not receive the amount of the Advance from the Investor or the shares of Common Stock to be purchased by the Investor from the Company, the Escrow Agent shall notify the Company and the Investor.

  • Inspection of Property and Books and Records The Company shall maintain and shall cause each Subsidiary to maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Company and such Subsidiary. The Company shall permit, and shall cause each Subsidiary to permit, representatives and independent contractors of the Agent or any Bank to visit and inspect any of their respective properties, to examine their respective corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss their respective affairs, finances and accounts with their respective directors, officers, and independent public accountants, all at the expense of the Company and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Company; provided, however, when an Event of Default exists the Agent or any Bank may do any of the foregoing at the expense of the Company at any time during normal business hours and without advance notice.

  • Documents, Records and Funds in Possession of the Master Servicer To Be Held for Trustee.

  • Documents Records and Funds in Possession of Master Servicer to be Held for the Trustee Notwithstanding any other provisions of this Agreement, the Master Servicer shall transmit to the Trustee as required by this Agreement all documents and instruments in respect of a Mortgage Loan coming into the possession of the Master Servicer from time to time and shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Certificate Account, shall be held by the Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Certificate Account, Distribution Account or any Escrow Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Master Servicer under this Agreement.

  • Collection of Taxes, Assessments and Similar Items; Escrow Accounts (a) To the extent required by the related Mortgage Note and not violative of current law, the Master Servicer shall establish and maintain one or more accounts (each, an "Escrow Account") and deposit and retain therein all collections from the Mortgagors (or advances by the Master Servicer) for the payment of taxes, assessments, hazard insurance premiums or comparable items for the account of the Mortgagors. Nothing herein shall require the Master Servicer to compel a Mortgagor to establish an Escrow Account in violation of applicable law.

  • Books Records Accounting and Reports Section 8.1 Records and Accounting 74 Section 8.2 Fiscal Year 74 Section 8.3 Reports 74 ARTICLE IX

  • Books and Records Reports (a) The Trustees shall keep a certified copy or duplicate original of this Trust Agreement on file at the office of the Trust and the office of the Administrator available for inspection at all reasonable times during its usual business hours by any Holder. The Trustees shall keep proper books of record and account for all the transactions under this Trust Agreement at the office of the Trust and the office of the Administrator, and such books and records shall be open to inspection by any Holder at all reasonable times during usual business hours. The Trustees shall retain all books and records in compliance with Section 31 of the Investment Company Act and the rules and regulations thereunder.

Time is Money Join Law Insider Premium to draft better contracts faster.