Common use of Excluded Expenditures Clause in Contracts

Excluded Expenditures. The Recipient undertakes that the proceeds of the Supplemental Credit shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

Excluded Expenditures. The Recipient undertakes that the proceeds of the Supplemental Credit shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing Credit was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

Excluded Expenditures. The Recipient undertakes that the proceeds of the Second Supplemental Credit shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.