Common use of Project Fund Clause in Contracts

Project Fund. The Authority hereby establishes and creates a special trust fund designated as the Independent Cities Finance Authority Pillar Ridge Project Fund (the “Project Fund”), which shall be held by the Trustee. Except as set forth in Section 5.4 hereof, amounts in the Project Fund shall be expended and applied only for making the Loan. On the Closing Date, the Trustee shall pay out moneys in the Project Fund for the purpose of making the Loan, upon receipt by the Trustee of a written direction of the Authority signed by an Authorized Officer. Upon receipt of such written direction, the Trustee shall make the payments as directed by such direction from the Project Fund. When all monies in the Project Fund have been disbursed, the Trustee shall close the fund.

Project Fund. The Authority hereby establishes and creates a special trust fund designated as the Independent Cities Finance Authority Pillar Ridge Palomar Estates East and West Project Fund (the “Project Fund”), which shall be held by the Trustee. Except as set forth below in Section 5.4 hereofthis Section, amounts in the Project Fund shall be expended and applied only for making the Loan. On the Closing Date, the Trustee shall pay out moneys in the Project Fund for the purpose of making the Loan, upon receipt by the Trustee of a written direction of the Authority signed by an Authorized Officer. Upon receipt of such written direction, the Trustee shall make the payments as directed by such direction from the Project Fund. When all monies in the Project Fund have been disbursed, the Trustee shall close the fund.

Project Fund. The Authority hereby establishes and creates a special trust fund designated as the Independent Cities Finance Authority Pillar Ridge Santa Xxxx Leisure Mobile Home Park Project Fund (the “Project Fund”), which shall be held by the Trustee. Except as set forth in Section 5.4 hereof, amounts in the Project Fund shall be expended and applied only for making the Loan. On the Closing Date, the Trustee shall pay out moneys in the Project Fund for the purpose of making the Loan, upon receipt by the Trustee of a written direction of the Authority signed by an Authorized Officer. Upon receipt of such written direction, the Trustee shall make the payments as directed by such direction from the Project Fund. When all monies in the Project Fund have been disbursed, the Trustee shall close the fund.

Project Fund. The Authority hereby establishes and creates a special trust fund designated as the Independent Cities Finance Authority Pillar Ridge Rancho Vallecitos Mobile Estates Project Fund (the “Project Fund”), which shall be held by the Trustee. Except as set forth below in Section 5.4 hereofthis Section, amounts in the Project Fund shall be expended and applied only for making the Loan. On the Closing Date, the Trustee shall pay out moneys in the Project Fund for the purpose of making the Loan, upon receipt by the Trustee of a written direction of the Authority signed by an Authorized Officer. Upon receipt of such written direction, the Trustee shall make the payments as directed by such direction from the Project Fund. When all monies , including: an amount equal to $ to the Prior Trustee to prepay the Prior Loan, discharge the deed of trust relating to the Prior Loan and refund the Prior Bonds in the Project Fund have been disbursed, the Trustee shall close the fundfull.