Loan of Bond Proceeds. (a) The Issuer agrees, upon the terms and conditions in this Agreement, to lend to the Company the proceeds (exclusive of accrued interest, if any) received by the Issuer from the sale of the Bonds in order to pay the Cost of the Project and the Company agrees to apply the gross proceeds of such loan to pay the Cost of the Project or as otherwise permitted in Section 3.4 hereof.
Appears in 3 contracts
Samples: Financing Agreement (Nevada Power Co), Financing Agreement (Nevada Power Co), Financing Agreement (Nevada Power Co)
Loan of Bond Proceeds. (a) The Issuer agrees, upon the terms and conditions in this Agreement, to lend to the Company the proceeds (exclusive of accrued interest, if any) received by the Issuer from the sale of the Bonds in order to pay the Cost of finance the Project and the Company agrees to apply the gross proceeds of such loan to pay the financing of the Cost of the Project or as otherwise permitted in Section 3.4 hereofProject.
Appears in 1 contract
