Project Reserve definition

Project Reserve means 10% of the projected monthly energy savings not paid to the ESCo as set out in GC 28.1.1. This is paid out to the ESCo based on actual energy savings in accordance with GC 28.1.1.2. Incremental interest is added monthly to the Project Reserve in accordance with GC 28.1.1.1.

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Project Reserve means the account provided for in Subsection 63A-5-209(3).

Project Reserve shall have the meaning ascribed thereto in Section 13.7 hereof.

Examples of Project Reserve in a sentence

• During the term of this Agreement, commencing with the first year the Recipient claims the credit, the Recipient shall annually deposit into a Rural Development Corporation Project Reserve Account an amount equal to $ , .00 per year.

• Lender may also require, at Lender’s election, in its sole discretion, at Borrower’s sole cost and expense, that disbursements of Project Reserve Funds be made through (a) the Title Company pursuant to a construction loan disbursement escrow agreement or (b) a vending control company.

• Lender may from time to time, in its sole discretion, waive any condition or conditions to any disbursement of Project Reserve Funds without such waiver or series of waivers constituting a course of dealing or any amendment to this Agreement or a prohibition against subsequent imposition of such condition or conditions or a waiver of a default.

• The allocated amount of Project Reserve Funds with respect to each Individual Property, are set forth on Schedule 1.1(a) hereof.

• Disbursement of Project Reserve Funds shall be made at Lender’s election by wire transfer, at Borrower’s cost and expense, or by check.

• Lender may, in its election, make payments of the Project Reserve Funds directly to the contractor, subcontractor, or material supplier.

• Amounts deposited from time to time into the Project Reserve Account pursuant to this Section 7.4.1 are referred to herein as the “Project Reserve Funds”.

• The ▇▇▇▇▇▇▇▇ PCD Reserve was created as a one-time provision of Project Reserve provided at the beginning of the HABC’s MTW program, and shall not be replenished by HUD during the term of the MTW program.

• HUD’s placement of approximately $49 million into the ▇▇▇▇▇▇▇▇ Project Reserve Account (now the ▇▇▇▇▇▇▇▇ PCD Reserve as set forth in Section 6 of Attachment A to the Amended MTW Agreement), combined with the approximately $4.9 million provided pursuant to the Stipulation and Order Amending the Partial Consent Decree, Docket No. 867, entirely fulfilled HUD’s obligation to provide funding authority for the 1,988 ▇▇▇▇▇▇▇▇ PCD Vouchers’ initial three-year terms.

• During the term of this agreement, commencing with the first year the Recipients claim the credit, the Recipients shall annually deposit into a Rural Development Corporation Project Reserve Account an amount equal to $ , .00 per year.

More Definitions of Project Reserve

Project Reserve means a sublimit under the Revolving Credit in the amount of $5,000,000, which may be drawn by the Borrowers only subject to the conditions and terms set forth in Section 7.3 hereof.

Project Reserve. Sum of Project Contingency Reserves and Project Management Reserves. Project Reserves are part of the cost estimate and approved project budget. • Project will have major milestones: Submission of Draft Facility Plan for review, Submission of Final Facility Plan for Approval, Submission of Draft Plans and Specifications for Review (90%), Submission of Final Plans and Specification for Approval (100%). Construction start (Notice to Proceed) and Construction Completion are SPUs Consent Decree/LTCP milestone requirements. Any delay to any of the milestones is subject to the Change Management process. • The project reserve threshold levels may be revised upon mutual written agreement of the Parties, executed by the Department Directors or their designees.

Project Reserve means the account provided for in Subsection 63A-5b-[2]609(3).