Project Fund. (a) The Trustee shall use moneys in the Tax-Exempt Bonds Account and the Equity Account of the Project Fund for the acquisition, rehabilitation and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein; provided, however, that any monies on deposit in the Capitalized Interest Account of the Project Fund shall only be used to make payments on the Note (including payments under the Swap Agreement, as provided therein) pursuant to Section 2.5 of the Loan Agreement and as otherwise provided in Section 8.7(c) below. The amounts on deposit in the Tax-Exempt Bonds Account shall not be applied to the payment of Costs of Issuance. The amounts on deposit in the Equity Account of the Project Fund shall be disbursed pursuant to the provisions of Section 8.7(g) hereof. Not less than 95% of the Tax-Exempt Bond proceeds representing net proceeds of the Tax-Exempt Bonds will be expended for Qualified Project Costs (the “95% Requirement”). Before any payment shall be made from any account within the Project Fund, the Regulatory Agreement and Mortgage shall have been recorded in the official records of Los Angeles County (confirmed by the title company responsible for such recording), and there shall be filed with the Trustee a Written Requisition of the Borrower substantially in the form attached hereto as Exhibit C-1 and approved by the Servicer for each such payment (upon which the Trustee may conclusively rely). Notwithstanding the foregoing, the Trustee may withdraw amounts from the Equity Account of the Project Fund without a Written Requisition to pay interest on the Bonds. Amounts on deposit in the Tax-Exempt Bonds Account of the Project Fund shall be allocated to, and disbursed from time to time by the Trustee for the sole purpose of, paying Qualified Project Costs and other costs that are the subject of a Written Requisition and approved by the Servicer as provided in the preceding sentence, which requisition shall include a certification that the “95% Requirement” referred to above is complied with and shall include an exhibit that allocates the amount to be disbursed among the Tax-Exempt Bonds Account and the Equity Account of the Project Fund. In connection with a Written Requisition: Only the signature of an authorized officer of the Servicer shall be required on a Written Requisition during any period in which a default by the Borrower has occurred and is then continuing under the Loan ...
Project Fund. Funds in the Project Fund shall be disbursed to Developer in accordance with the Custodial Agreement to pay (or reimburse Developer for) Project Costs.
Project Fund. The Issuer shall maintain the Project Fund in the custody of the Trustee, to the credit of which deposits are to be made as required by the provisions of Section 3.1 hereof.
Project Fund. There is hereby created and established with the Trustee a trust fund to be designated “Parish of St. Xxxxx, State of Louisiana, Project Fund, NuStar Logistics, L.P. Project,” which shall be expended in accordance with the provisions hereof and of the Agreement.
Project Fund. There is hereby created and established with the Trustee a trust fund to be designated as the “Project Fund,” which shall be expended in accordance with the provisions of this Indenture and of the Loan Agreement. The Project Fund shall consist of funds deposited therein, from time to time, pursuant to the provisions of this Indenture and applicable provisions of the Loan Agreement, for purposes of paying Qualified Project Costs (as such phrase is defined in the Tax Compliance Agreement) of the Project.
Project Fund. The Trustee hereby agrees to establish and maintain so long as any Bonds are Outstanding the Project Fund and, within the Project Fund, a Project Account for each Series of Bonds (the initial payment into which is provided for in Section 3.01). The moneys in the Project Fund shall be disbursed by the Trustee upon the Written Request of the County in substantially the form of Exhibit B hereto filed with the Trustee, for the payment of Project Costs relating to the Project. Before any payment is made from the Project Fund, there shall be filed with the Trustee a Written Request of the County showing with respect to each payment to be made:
Project Fund. (a) All proceeds of the Funding Loan provided by the Funding Lender shall be deposited to the Note Proceeds Account of the Project Fund and disbursed as herein provided. The Fiscal Agent shall use moneys in the Project Fund for the acquisition, rehabilitation, development and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein. On the Closing Date, the Funding Lender shall deposit or cause to be deposited with the Fiscal Agent, for deposit in the Note Proceeds Account of the Project Fund, the initial disbursement of the Funding Loan in the amount of $ . Not less than 97% of the moneys deposited in and credited to the Project Fund, and taking into account proceeds of the Funding Loan (if any) deposited in the Closing Costs Fund, representing the proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “97% Requirement”). The amounts on deposit in the Project Fund shall not be applied to the payment of Closing Costs. Before any payment shall be made from the Project Fund, the Regulatory Agreement shall have been executed and submitted to a title company for recordation in the official records of the County of Orange and there shall be filed with the Fiscal Agent a Written Requisition of the Borrower substantially in the form attached hereto as Exhibit C and approved by the Funding Lender pursuant to the terms, conditions and provisions of the Construction Funding Agreement, with a copy to the Governmental Lender. The Fiscal Agent shall be entitled to conclusively rely upon any Written Requisition in determining whether to disburse amounts from the Project Fund. In connection with a Written Requisition, except for a written request for amounts representing accrued interest due and payable on the Governmental Lender Notes:
Project Fund. (a) The proceeds of the Funding Loan shall be deposited to the Note Proceeds Account of the Project Fund and disbursed as provided herein. All proceeds of the Borrower Deferred Equity, as well as any additional amounts delivered from time to time to the Fiscal Agent by or on behalf of the Borrower (excluding any proceeds of the Funding Loan) shall be deposited to the Equity Account of the Project Fund. The Fiscal Agent shall disburse moneys in the Project Fund for the acquisition, rehabilitation, development and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein. Not less than 95% of the moneys deposited in and credited to the Note Proceeds Account of the Project Fund, and taking into account proceeds of the Funding Loan (if any) deposited in the Closing Costs Fund representing proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “95% Requirement”). The amounts on deposit in the Note Proceeds Account of the Project Fund shall not be applied to the payment of Closing Costs. Before any payment shall be made from the Project Fund, the Regulatory Agreement shall have been executed and submitted to a title company for recordation in the official land evidence records of the City of Providence in Providence County, Rhode Island and there shall be filed with the Fiscal Agent:
Project Fund. (a) All proceeds of the Governmental Lender Notes provided by the Funding Lender shall be deposited to the Note Proceeds Account or Capitalized Interest Account of the Project Fund and disbursed as herein provided. The Fiscal Agent shall disburse moneys in the Note Proceeds Account of Project Fund for the acquisition, construction and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein as requested by the Borrower pursuant to a Written Requisition in the form attached hereto as Exhibit C. All funds deposited by or on behalf of the Borrower for credit to the Borrower Equity Account Project Fund shall be disbursed as requested by the Borrower pursuant to a Written Requisition in the form attached hereto as Exhibit C. Before any payment shall be made from the Project Fund, the Regulatory Agreement shall have been executed and submitted to a title company for recordation in the official records of Xxxxxx County, Texas, and there shall be filed with the Fiscal Agent a Written Requisition of the Borrower substantially in the form attached hereto as Exhibit C and approved by the Funding Lender pursuant to the terms, conditions and provisions of the Construction Funding Agreement. In addition to the above, in connection with a Written Requisition:
Project Fund. (a) All proceeds of the Funding Loan provided by the Funding Lender shall be deposited to the Note Proceeds Account of the Project Fund and disbursed as herein provided; provided, however, that (i) the initial disbursement of the Funding Loan on the Closing Date shall be sent by the Funding Lender to Fiscal Agent, which shall then transfer such funds to the Title Company, and (ii) any proceeds of the Funding Loan funded pursuant to the Contingency Draw- Down Agreement shall be deposited to the Remaining Funding Loan Proceeds Account of the Project Fund and disbursed as herein provided. The Fiscal Agent shall disburse moneys in the Project Fund for the rehabilitation, construction, improvement and equipping of the Project, to pay other Qualified Project Costs and to pay other costs related to the Project as provided herein. Not less than 97% of the moneys deposited in and credited to the Note Proceeds Account and Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “97% Requirement”). The amounts on deposit in the Note Proceeds Account and Remaining Funding Loan Proceeds Account of the Project Fund shall not be applied to the payment of Closing Costs. Before any payment shall be made from the Note Proceeds Account of the Project Fund, the Regulatory Agreement shall have been executed and submitted to a title company for recordation in the official records of San Diego County and there shall be filed with the Fiscal Agent a Written Requisition of the Borrower substantially in the form attached hereto as Exhibit C and approved by the Funding Lender pursuant to the terms, conditions and provisions of the Construction Funding Agreement. In addition to the above, in connection with a Written Requisition:
