Funding and Accounts Sample Clauses

Funding and Accounts. From time to time within thirty (30) days after a written request from the Agency, the Redeveloper shall advance to the Agency funds required pursuant to the then current budget to enable the Agency to pay Reimbursable Expenses described in Section 20.1 as they become due. All amounts advanced by Redeveloper pursuant to this Article shall be deposited in the interest-bearing Project Operating Account, the interest on which shall be retained for the purposes of the Project Operating Account and allocated to the Agency for federal and state income tax purposes. From time to time, the Agency shall have the right to draw upon the Project Operating Account to pay such Reimbursable Expenses as are permitted by this Article. The Agency shall maintain good and sufficient records of its payments from the account which may be inspected by the Redeveloper at any time during the normal business hours of the Agency. When all items of expenditure to be paid from the Project Operating Account have been paid and provided no Redeveloper Default exists hereunder, the Agency shall deliver the balance in the account, if any, to the Redeveloper. The Agency shall use reasonable efforts to cause the institutions at which the Project Operating Account are maintained to provide duplicate Statements of account to the Redeveloper at such times as such statements are provided to the Agency.
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Funding and Accounts. From time to time within thirty (30) days after a written request from the Agency, the Redeveloper shall advance to the Agency funds required pursuant to the approved budget to enable the Agency to pay Acquisition Expenses described in Section
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Funding and Accounts. From time to time within thirty (30) days after a written request from the Agency, the Redeveloper shall advance to the Agency funds required pursuant to the then current budget to enable the Agency to pay Acquisition Expenses described in Section 20.1 as they become due. In particular, but without limitation, the Redeveloper shall advance to or pay on behalf of the Agency in a timely manner all the amounts necessary to acquire the Acquisition Property in accordance with this Agreement. The Redeveloper shall deposit into the Project Operating Account from time to time, and in any event prior to the time that the Agency files a Statement of Compensation with respect to each such parcel, the compensation amounts for parcels of Acquisition Property established by the Agency pursuant to Section 18.3(d) hereof. The Agency shall not request that Redeveloper fund any compensation amounts for acquisition of Acquisition Property unless and until the Agency, in compliance with the terms of this Agreement, is able to file a Statement of Compensation within thirty (30) days after receipt of said funds from Redeveloper. All amounts advanced by Redeveloper pursuant to this Article shall be deposited in the interest-bearing Project Operating Account, the interest on which shall be retained for the purposes of the Project Operating Account and allocated to the Agency for federal and state income tax purposes. From time to time, the Agency shall have the right to draw upon the Project Operating Account to pay such Acquisition Expenses as are permitted by this Article. The Agency shall maintain good and sufficient records of its payments from the account which may be inspected by the Redeveloper at any time during the normal business hours of the Agency. When all items of expenditure to be paid from the Project Operating Account have been paid and provided no Redeveloper Default exists hereunder, the Agency shall deliver the balance in the account, if any, to the Redeveloper. The Agency shall use reasonable efforts to cause the institutions at which the Project Operating Account are maintained to provide duplicate Statements of account to the Redeveloper at such times as such statements are provided to the Agency.
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Related to Funding and Accounts

  • Funds and Accounts Section 7.1. Authorization to Create Funds and Accounts 20 Section 7.2. Investment of Funds 20 Section 7.3. Establishment of Funds 21 Section 7.4. Funding Loan Payment Fund 21 Section 7.5. Expense Fund 22 Section 7.6. Closing Costs 22 Section 7.7. Project Fund 22 Section 7.8. Rebate Fund 24

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  • Commingling and Investment The Trustee is expressly authorized in its discretion:

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