Release of Proceeds. In the event the Improvements have been installed to the satisfaction of CITY and/or the Fees have been paid pursuant to this Agreement and Xxx City ordinances within the above stated time period(s), CITY agrees to execute a written release of the remaining Proceeds.
Release of Proceeds. In the event the Improvements have been installed to the satisfaction of the CITY pursuant to this Agreement and Bluffdale City ordinances within the above stated time period(s), CITY agrees, upon written request from the APPLICANT, to execute a written release of the remaining Proceeds. The CITY further agrees to notify APPLICANT of the release of Proceeds by sending a certified letter, return receipt requested, to the APPLICANT at the following address: . The burden shall be upon the APPLICANT to keep the city informed of any change in address. For the purpose of this Agreement, the APPLICANT shall have been considered to have received notice if the CITY has sent the notice to the address indicated in this paragraph or at the new address indicated in writing by the APPLICANT. The APPLICANT shall have six (6) months from the date that notice of the release of Proceeds was mailed to the APPLICANT to request release of the remaining bond Proceeds. At the expiration of six (6) months, the APPLICANT agrees that any remaining Proceeds shall be released to the CITY. APPLICANT expressly authorizes the release, to the CITY, of any remaining Proceeds, upon production to the Escrow Agent of a return receipt, showing that notice was sent to the address contained in this paragraph and showing the expiration of a six (6) month period of time.
Release of Proceeds. Any direction from the Company for the release of the Proceeds in accordance with this Indenture, including the Release Notice, must be received by the Subscription Receipt Agent prior to 11:00 a.m. (Toronto time) on the day on which the release of Proceeds is to be made. Any such direction for the release of Proceeds received by the Subscription Receipt Agent after 11:00 a.m. (Toronto time) or on a non-Business Day, will be handled on a commercially reasonable efforts basis and may result in Proceeds being released on the next Business Day. The Subscription Receipt Agent, subject to Section 6.04(b) shall:
Release of Proceeds. Any amounts received by the Pledgee during the continuance of an Event of Default and not applied against the Obligations or expenses of Decommissioning of Zion Station shall be paid over to the Pledgor.
Release of Proceeds. Notwithstanding the foregoing, and provided no default then exists under the Loan Documents (provided Borrower shall have the right to cure such default within any applicable cure period), in the event of loss or damage to the Property by fire, earthquake, other catastrophe or event for which insurance has been maintained by Borrower, and the amount of such loss or damage does not exceed twenty-five percent (25%) of the outstanding principal balance of the Loan and does not result in any spill, seepage, discharge, emission or other release of any Hazardous Substances at or about the Property which materially adversely affects (x) the marketability of title to the Property, (y) the usability, potential for development or market value of the Property, or (z) any of the Leases or the Rents (as reasonably determined by Lender), Lender hereby agrees to allow the proceeds of insurance to be used for the Restoration and to release such insurance proceeds to Borrower as the Restoration progresses, subject to the following conditions (collectively, the “Restoration Conditions”):
Release of Proceeds. Mortgagee or any future Mortgagee or Mortgagees may at any time and from time to time release to Mortgagor or its order all or any portion of the funds received from the proceeds of oil, gas or other minerals as provided in this Article III without in any wise impairing, releasing or discharging the lien, privilege and security of this instrument, and the pledge and assignment herein provided for or affecting the validity thereof.
Release of Proceeds. In consideration for the unconditional and unlimited guaranty executed and delivered simultaneously herewith by STRATUS PROPERTIES INC., Lender hereby terminates the Assignment dated as of the 9th day of April, 1999, from Operating Company and releases its lien on the Proceeds as to this Loan. The parties hereto agree and acknowledge that two (2) installments, each in the amount of NINE HUNDRED NINETY THOUSAND SIX HUNDRED FORTY-EIGHT DOLLARS AND 46/100 DOLLARS ($990,648.46), are due from the City of Austin under the Austin Water Agreement, the first installment being due and payable as of the date hereof and the remaining installment in a like sum shall be due and payable on or before December 31, 2000, together with any and all additional revenue, income, proceeds, profits and other types of deposits or benefits paid or payable by the City of Austin under the Austin Water Agreement. Operating Company agrees and acknowledges that it shall simultaneously herewith execute an assignment of accounts receivable acceptable to Lender whereby all of its rights and remedies under the Austin Water Agreement shall be re-assigned to Lender under the Related Loan, and that the two (2) installments due under the Austin Water Agreement shall be applied upon receipt by Lender to the Related Loan.
Release of Proceeds. The gross proceeds may be released to the Company and applied as follows:
Release of Proceeds. The Subscription Receipt Agent shall release the Proceeds and any interest accrued thereon by certified cheque, bank draft or wire transfer, as follows in the following circumstances:
Release of Proceeds. Upon such time as the development has been completed and the Home Owner’s Association (or lot owners) have by written agreement undertaken the obligation for weed control within the development, The Proceeds herein, less any proceeds used for weed control pursuant to the provisions herein, shall be returned to the APPLICANT.
