Examples of Project Operating Account in a sentence
Borrower may make withdrawals from the Project Operating Account solely for the payment of Project Expenses and Project Fees and payments and distributions of Surplus Cash in accordance with Section 3.5. Withdrawals from the Project Operating Account (including accrued interest) for any other purposes may be made only with the OCII’s express prior written approval.
Withdrawals from the Project Operating Account may be made only in accordance with the provisions of this Agreement and the approved Annual Operating Budget, as it may be revised from time to time with the OCII’s approval.
The formats are exemplified as Form C-1, Statements of Designated Account, Project Operating Account, and Revolving Fund Account and Form C-2, Statement of Expenditure.
Excess Revenue Fund.”Budgeted operating expenses, to be paid from the Project Operating Account, include monitoring fees, trustee fees, advisory fees, asset management fees, and other costs related to CalCHA’s continuing disclosure requirements.The Project Bonds will be non-recourse against CalCHA.
The Designated Account Statement will be prepared by the Forex Reserve and Treasury Management Department (FRTMD) of Bangladesh Bank and Project Operating Account Statement and the Revolving Fund Account Statement will be prepared by the Accounts and Budgeting Department of Bangladesh Bank.
Refinancing facilities will be made available to the PFI on “first come first served” basis and subject to the availability of balance in the Project Operating Account and the Revolving Fund Account.
Article IV of the Lockbox Agreement requires that disbursements from the Project Operating Account, Impositions Reserve Account, Replacement Reserve Account, Performance Incentive Account and Tenant Security Deposit Account shall be made pursuant to a disbursement request from an authorized officer of SAFBP.
The Agency shall use reasonable efforts to cause the institutions at which the Project Operating Account are maintained to provide duplicate Statements of account to the Redeveloper at such times as such statements are provided to the Agency.
The operation of Project Operating Account will be governed by applicable rules and procedures.
The Project is required to open and maintain the Designated Account, the Project Operating Account and the Revolving Fund Account with BB.