Examples of Note Proceeds Account in a sentence
After the Conversion Date, any amounts remaining in the Capitalized Interest Subaccount of the Capitalized Interest Account shall be transferred (i) to the Note Proceeds Account of the Project Fund to the extent such amounts were funded with proceeds of the Funding Loan; and (ii) to the Borrower Equity Account of the Project Fund to the extent such amounts were funded with Borrower Required Equity.
All proceeds of the Funding Loan provided by the Funding Lender shall be deposited to the applicable series subaccount of the Note Proceeds Account of the Project Fund and the Capitalized Interest Account of the Project Fund as directed in writing by the Funds Lender.
The Governmental Lender agrees that if the Governmental Lender has not objected in writing to any disbursement from the Note Proceeds Account or Borrower Equity Account within five Business Days of receipt of a request for acknowledgment of such disbursement, the Governmental Lender shall be deemed to have acknowledged such disbursement.
The Fiscal Agent shall disburse moneys in the Note Proceeds Account, the Capitalized Interest Account and its subaccount, and the Borrower Equity Account of the 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.
Promptly after receipt of a Draw-Down Notice, the Funding Lender shall advance proceeds of the Funding Loan in the Remaining Authorized Amount (the “Remaining Funding Loan Proceeds”) into the Note Proceeds Account of the Project Fund to be held for disbursements to the Borrower pursuant to the Funding Loan Documents.