Project BANs definition
Project BANs means the Borrower’s Sales Tax Revenue Short-Term Notes (Limited Tax Bonds) to be issued by the Borrower during the Construction Period, in an aggregate principal amount (plus capitalized interest) at maturity not to exceed $537,484,439, in one or more series pursuant to the Third Supplement to the Subordinate Indenture the proceeds of which are intended to be applied to the payment of Eligible Project Costs.
Project BANs means the [describe the specific Bonds, etc.] to be issued on or about [●], in the not to exceed par amount of $[●], the proceeds of which are anticipated to be applied to the payment of Eligible Project Costs.]49
Project BANs means the Subordinate Lien Revenue Bond Anticipation Notes, Series 2021C, issued by the Borrower pursuant to the Twenty-Eighth Supplemental Trust Indenture in the aggregate principal amount of $244,185,000, a portion of the proceeds of which shall be applied to the payment of Eligible Project Costs.
Examples of Project BANs in a sentence
The certificate and the Eligible Project Costs Documentation are intended to document Eligible Project Costs in connection with the reimbursement of such Eligible Project Costs or for the purpose of paying or redeeming, in whole or part, only those Project BANs in respect of which the proceeds were used to pay such documented Eligible Project Costs.
The Eligible Project Costs Documentation and the certificate must provide sufficient detail to enable the TIFIA Lender to verify that proceeds of the Project BANs were expended for Eligible Project Costs for the Project and to audit such other Eligible Project Costs paid by or on behalf of the Borrower.
More Definitions of Project BANs
Project BANs means the Borrower’s (i) Subordinate Sales Tax Revenue Short-Term Notes (Limited Tax Bonds) issued by the Borrower on April 18, 2018 pursuant to the First Supplement to the Subordinate Indenture or (ii) Subordinate Sales Tax Revenue Short-Term Notes (Limited Tax Bonds) to be issued by the Borrower during the Construction Period in one or more series pursuant to a supplemental indenture to the Subordinate Indenture, in an aggregate principal amount at maturity not to exceed $537,484,439, in each case, the proceeds of which are intended to be applied to the payment of Eligible Project Costs.