Sub-projects. 1. The proceeds of the Subsidiary Credits shall be relent by each Project Implementing Entity to its respective Participating Utilities and Participating Municipalities, as the case may be, under a Subsidiary Financing Agreement to be entered into between the relevant Project Implementing Entity and the relevant Participating Utility and Participating Municipality, as the case may be, under terms and conditions which shall have been approved by the Association. Except as the Association shall otherwise agree, such terms and conditions shall include the following:
Appears in 2 contracts
Samples: Financing Agreement, Financing Agreement
Sub-projects. 1. The proceeds of the Subsidiary Credits shall be relent by each Project Implementing Entity the Federation to its respective Participating Utilities and Participating Municipalities, as the case may be, under a Subsidiary Financing Agreement to be entered into between the relevant Project Implementing Entity Federation and the relevant Participating Utility and Participating Municipality, as the case may be, under terms and conditions which shall have been approved by the Association. Except as the Association shall otherwise agree, such terms and conditions shall include the following:
Appears in 2 contracts
Samples: Financing Agreement, Financing Agreement
