2020 Project Fund Clause Samples

2020 Project Fund. (i) Except as otherwise provided in Section 10.2(a)(ii) hereof, moneys in the Project Account or the Equity Account of the 2020 Project Fund shall, upon submission of a written requisition certified by an Authorized Representative of the Company and otherwise in compliance with the requirements of Section 4.04 of the Indenture, be disbursed from the Project Account or the Equity Account of the 2020 Project Fund to pay the Cost of the 2020 Facility and for no other purpose. (ii) Except for the amount retained for the payment of incurred but unpaid items of the 2020 Project Costs, all moneys in the 2020 Project Fund shall, upon completion of the funding of all costs and expenses related to the issuance of the Series 2020 Bonds and the completion of the 2020 Project and so long as the amount on deposit in the Debt Service Reserve Fund and the Supplemental Reserve Fund is then at least equal to the Debt Service Reserve Fund Requirement and the Supplemental Reserve Fund, respectively, be deposited in the Bond Fund and used as provided in Section 4.06 of the Indenture. (iii) Notwithstanding anything contained in this subsection to the contrary, any moneys in the 2020 Project Fund which are not required for immediate use or disbursement may be invested or reinvested as provided in Section 4.11 of the Indenture. Neither the Trustee nor the Issuer or its members, officers or employees shall be liable for any depreciation in the value of any investments made pursuant to this subsection or for any loss arising from any such investment.