Disbursements from Project Fund. Subject to the provisions below, disbursements from the Project Fund shall be made to reimburse or pay the Company, or any Person designated by the Company, for Project Costs. The Company agrees that the sums so disbursed from the Project Fund will be used only for the payment of Project Costs, and will not be used for any other purpose. Subject to Section 6.03 of the Indenture, any disbursements from the Project Fund for the payment of the Project Costs shall be made by the Trustee only upon the written order of an Authorized Representative of the Company delivered to the Trustee with a copy to the Credit Facility Issuer, if any. Subject to Section 6.03 of the Indenture, each such written order shall be substantially in the form of the disbursement request attached hereto as Exhibit B and shall be consecutively numbered and accompanied by a statement in reasonable detail listing the Project Costs to be paid to any contractors, materialmen or suppliers or incurred by the Company for which it is to be reimbursed. Any disbursement for any item which is inconsistent with the information statement filed by the Authority in connection with the issuance of the Bonds as required by Section 149(e) of the Code, shall be accompanied by an opinion of a Bond Counsel to the effect that such disbursement will not result in the interest on the Bonds becoming included in the gross income of the holders thereof for federal income tax purposes. In case any contract provides for the retention by the Company of a portion of the contract price, there shall be paid from the Project Fund only the net amount remaining after deduction of any such portion, and only when that retained amount is due and payable, may it be paid from the Project Fund.
Disbursements from Project Fund. 1. The Authority has in the Indenture authorized and directed the Trustee to make payments from the Project Fund in accordance with Section 8.01 of the Indenture, to pay the redemption price of the Prior Bonds and costs related thereto upon receipt from time to time of letters signed by an Authorized Company Representative in accordance with Section 8.01 of the Indenture. Concurrently with the delivery by the Company of each such letter to the Trustee, the Company will deliver to the Authority a copy thereof and any attachments thereto. The Company will indemnify and save harmless the Authority and the Trustee from any liability incurred in connection with any letter so delivered and any payments made in reliance thereon.
Disbursements from Project Fund. The Borrower shall not request or receive any disbursement of funds from the Project Fund unless and until the Bank shall have approved such disbursement in writing and all of the following conditions shall be true with respect to each such disbursement:
Disbursements from Project Fund. The proceeds of the Series 2010B Bonds and any Company funds deposited in the Project Fund will be disbursed by the Trustee in accordance with the terms of this Agreement upon receipt of a certificate (substantially in the form of Exhibit C attached hereto) signed by a Company Representative, evidencing the written consent of the Bank and containing the following information:
Disbursements from Project Fund. (1) The City has in the Indenture authorized and directed the Trustee to disburse the proceeds of the Series 2008 Bonds from the Project Fund upon the direction of the Company in accordance with the Disbursing Agreement, in payment or reimbursement of all items of Cost enumerated in Section 3.2 and certified in writing by the Company Representative to be due and payable or to have been paid by the Company to the persons entitled thereto.
Disbursements from Project Fund. Moneys on deposit in the Project Fund shall be disbursed in accordance with the Acquisition Agreement.
Disbursements from Project Fund. The Trustee will pay from the Project Fund established under Section 4.01 upon and as directed by written instructions of the Borrower, the costs of issuing the Bonds, including the fees and expenses of Bond Counsel and the Authority and any recording or similar fees, and the fees and expenses of the Trustee in connection with the issue of the Bonds and interest on the Bonds not otherwise provided for incurred prior to the completion of the Project in accordance with this Agreement. Other disbursements from the Project Fund shall be made by the Trustee to pay directly or to reimburse the Borrower for Project Costs or indebtedness incurred to pay Project Costs, as directed by requisitions signed on behalf of the Borrower by the Borrower Representative setting forth the amount of the payment or reimbursement due, the nature of the goods or other property or services received in reasonable detail, and the name and address of the person to whom payment or reimbursement is due. Each requisition shall include a certificate signed on behalf of the Borrower by the Borrower Representative that (a) after giving effect to the payment of the requisition, the use of all funds disbursed from the Project Fund complies with the limitations contained in the Tax Regulatory Agreement; (b) such payment or reimbursement is for Project Costs and the obligations have not been the basis for a prior requisition which has been paid; (c) no Event of Default hereunder and no event or condition which, after notice or lapse of time or both, would become an Event of Default hereunder, exists; and (d) the payment or reimbursement requested by the requisition is due for work actually performed or materials or property actually supplied prior to the date of the requisition.
Disbursements from Project Fund. The Authority and the Borrower hereby agree that the moneys in the Project Fund shall be applied to the payment of the Cost of the Project and otherwise as provided in accordance with ARTICLE IV of the Trust Agreement and substantially to the extent of the estimates of the Cost of the Project set forth in the application filed with the Authority, as such application may be amended from time to time, and such moneys shall be invested and reinvested in accordance with the Trust Agreement.
Disbursements from Project Fund. All proceeds of the TIF Note shall be deposited in the Project Fund. Amounts deposited in the Project Fund shall be applied as disbursed in accordance with Section 6.2 hereof.
Disbursements from Project Fund. (a) In the Trust Indenture, the Authority has authorized and directed the Bond Trustee to make disbursements from the Project Fund to pay the Costs of the Project, or to reimburse CHOA for any Cost of the Project or capitalizable interest paid by CHOA. The Bond Trustee shall not make any disbursement from the Project Fund until CHOA shall have provided the Bond Trustee with a requisition in substantially the form attached hereto as Exhibit A-1 and shall have delivered such requisition in accordance with Section 3.4 of the Trust Indenture and which shall state:
