Project Fund Custodian definition
Examples of Project Fund Custodian in a sentence
It is agreed by the parties hereto that any amounts remaining in any Fund under the Bond Resolution after payment in full of the principal and interest on the Series 2023 Bond, the fees, charges and expenses of the Bond Registrar, Paying Agent, Debt Service Fund Custodian and Project Fund Custodian and all other amounts required to be paid, shall be paid to the City.
This Contract shall be in full force and effect from the date of delivery hereof until such time as the Series 2023 Bond and any Parity Bonds shall have been paid or provision for such payment shall have been made in accordance with the Bond Resolution and all payments due or to become due to the Bond Registrar, Paying Agent, Debt Service Fund Custodian and Project Fund Custodian have been made; provided that in no event shall this Contract extend beyond fifty years from its date.
The Project Fund Custodian, at the direction of the RESA, shall invest and reinvest moneys on deposit in the Project Fund in Qualified Investments.
The moneys and securities on deposit in the Project Fund shall be held separate and apart from all other funds of the RESA and the Project Fund Custodian.
In making any such disbursement from the Project Fund the Project Fund Custodian may rely on any such Requisition delivered to it pursuant to this Section, and the Project Fund Custodian shall be relieved of all liability with respect to making such disbursements in accordance with such requisitions without inspection of the Project or any other investigation.
Prior to a disbursement from the Project Fund, there shall be filed with the Project Fund Custodian a Requisition approved by the Seller.
This Contract shall be in full force and effect from the date of delivery hereof until such time as the Series 2023B Bond and any Parity Bonds shall have been paid or provision for such payment shall have been made in accordance with the Bond Resolution and all payments due or to become due to the Bond Registrar, Paying Agent, Debt Service Fund Custodian and Project Fund Custodian have been made; provided that in no event shall this Contract extend beyond fifty years from its date.
The Borrower will pay without abatement, diminution or deduction (whether for taxes or otherwise) all such amounts regardless of any cause or circumstance whatsoever including, without limitation, any defense, set-off, recoupment or counterclaim that the Borrower may have or assert against the Issuer, the Trustee, the Paying Agent, the Project Fund Custodian, any Bondholder or any other Person.
It is agreed by the parties hereto that any amounts remaining in any Fund under the Bond Resolution after payment in full of the principal and interest on the Series 2023A Bond and the Series 2023B Bond, the fees, charges and expenses of the Bond Registrar, Paying Agent, Debt Service Fund Custodian and Project Fund Custodian and all other amounts required to be paid, shall be paid to the City.
The Bond Fund Custodian or the Project Fund Custodian, as the case may be, may make any and all such investments through its own bond or investment department or through its broker dealer affiliate.