Common use of Agreement to Acquire Clause in Contracts

Agreement to Acquire. (a) Simultaneously with the delivery of this Lease Agreement the Issuer shall cause the Bond proceeds to be deposited in the Construction Fund. The Issuer shall cause the proceeds of the Bonds to be advanced to the User by withdrawal from the Construction Fund, in accordance with the requirements of the Indenture, for the payment of Project Costs at such times and in such amounts as shall be directed by the User. The proceeds of the Bonds shall be used solely for the payment of Project Costs as provided in the Indenture. (b) The User will acquire and construct the Project with all reasonable dispatch and due diligence and will cause the Project to be placed in service as promptly as practicable. The Issuer will not execute any contract or purchase orders for the Project without the prior written consent of the User. (c) Compliance with laws and regulations necessary to realize any sales and use tax exemption with respect to the acquisition, construction and equipping of the Project shall be the sole responsibility of the User and the Issuer does not assume any responsibility or give any assurance with respect to any possible exemption from sales and use taxes. (d) The User may, with the prior written consent of the Credit Obligor, cause changes or amendments to be made in the plans and specifications for such acquisition and construction of the Project, provided (1) such changes or amendments will not change the nature of the Project to the extent that it would not constitute a “project” as authorized by the Enabling Law, and (2) such changes or amendments will not materially affect the utility of the Project for its intended use. The Issuer will make only such changes or amendments in the plans and specifications for the acquisition and construction of the Project as may be requested in writing by the User. (e) The Issuer and the User shall from time to time each appoint by written instrument an agent or agents authorized to act for each respectively in any or all matters relating to the acquisition and construction of the Project and payments to be made out of the Construction Fund. One of the agents appointed by the User shall be designated its Project Supervisor. Either the Issuer or the User may from time to time revoke, amend or otherwise limit the authorization of any agent appointed by such party to act on such party’s behalf or designate another agent or agents to act on such party’s behalf, provided that there shall be at all times at least one agent authorized to act on behalf of the Issuer, and at least one agent (who shall be the Project Supervisor) authorized to act on behalf of the User, with reference to all the foregoing matters. The Project Supervisor at any time designated by the User is hereby irrevocably appointed as agent for the Issuer to issue and execute, for and in the name and behalf of the Issuer and without any further approval of the governing body or any officer, employee or other agent thereof, a payment requisition on the Construction Fund. (f) In the event the proceeds derived from the sale of the Bonds are insufficient to pay in full all Project Costs, the User shall be obligated to complete the acquisition and construction of the Project at its own expense and the User shall pay any such deficiency and shall save the Issuer whole and harmless from any obligation to pay such deficiency. The User shall not by reason of the payment of such deficiency from its own funds be entitled to any diminution in Rental Payments.

Agreement to Acquire. (a) Simultaneously with the delivery of this Lease Agreement the Issuer shall cause the Bond proceeds to be deposited in the Construction Fund. The Issuer shall cause the Bond proceeds of the Bonds to be advanced to the User by withdrawal from the Construction Fund, in accordance with the requirements of the Indenture, for the payment of Project Costs at such times and in such amounts as shall be directed by the User. The Bond proceeds of the Bonds shall be used solely for the payment of Project Costs as provided in the Indenture. (b) The User will acquire and construct the Project with all reasonable dispatch and due diligence and will cause the Project to be placed in service as promptly as practicable. The Issuer will not execute any contract or purchase orders for the Project without the prior written consent of the User. (c) Compliance with laws and regulations necessary to realize any sales and use tax exemption with respect to the acquisition, construction and equipping of the Project shall be the sole responsibility of the User and the Issuer does not assume any responsibility or give any assurance with respect to any possible exemption from sales and use taxes. (d) The User may, with the prior written consent of the Credit ObligorObligor except as provided below, cause changes or amendments to be made in the plans and specifications for such acquisition and construction of the Project, provided (1) such changes or amendments will not change the nature of the Project to the extent that it would not constitute a “"project” " as authorized by the Enabling Law, and (2) such changes or amendments will not materially affect the utility of the Project for its intended use. The User may, without the consent of the Credit Obligor, make changes to the plans and specifications for the Project which do not increase the total cost of the Project by more than $100,000 in the aggregate for all such changes. The Issuer will make only such changes or amendments in the plans and specifications for the acquisition and construction of the Project as may be requested in writing by the User. (ed) The Issuer and the User shall from time to time each appoint by written instrument an agent or agents authorized to act for each respectively in any or all matters relating to the acquisition and construction of the Project and payments to be made out of the Construction Fund. One of the agents appointed by the User shall be designated its Project Supervisor. Either the Issuer or the User may from time to time revoke, amend or otherwise limit the authorization of any agent appointed by such party to act on such party’s 's behalf or designate another agent or agents to act on such party’s 's behalf, provided that there shall be at all times at least one agent authorized to act on behalf of the Issuer, and at least one agent (who shall be the Project Supervisor) authorized to act on behalf of the User, with reference to all the foregoing matters. The Project Supervisor at any time designated by the User is hereby irrevocably appointed as agent for the Issuer to issue and execute, for and in the name and behalf of the Issuer and without any further approval of the governing body board of directors or any officer, employee or other agent thereof, a payment request or requisition on the Construction Fund. (fe) In the event the proceeds derived from the sale of the Bonds are insufficient to pay in full all Project Costs, the User shall be obligated to complete the acquisition and construction of the Project at its own expense and the User shall pay any such deficiency and shall save the Issuer whole and harmless from any obligation to pay such deficiency. The User shall not by reason of the payment of such deficiency from its own funds be entitled to any diminution in Rental Payments.

Agreement to Acquire. (a) Simultaneously with the delivery of this Lease Agreement the Issuer shall cause the Bond proceeds to be deposited in the Construction Fund. The Issuer shall cause the Bond proceeds of the Bonds to be advanced to the User by withdrawal from the Construction Fund, in accordance with the requirements of the Indenture, for the payment of Project Costs at such times and in such amounts as shall be directed by the User. The Bond proceeds of the Bonds shall be used solely for the payment of Project Costs as provided in the Indenture. (b) The User will acquire and construct the Project with all reasonable dispatch and due diligence and will cause the Project to be placed in service as promptly as practicable. The Issuer will not execute any contract or purchase orders for the Project without the prior written consent of the User. (c) Compliance with laws and regulations necessary to realize any sales and use tax exemption with respect to the acquisition, construction and equipping of the Project shall be the sole responsibility of the User and the Issuer does not assume any responsibility or give any assurance with respect to any possible exemption from sales and use taxes. (d) The User may, with the prior written consent of the Credit ObligorObligor except as provided below, cause changes or amendments to be made in the plans and specifications for such acquisition and construction of the Project, provided (1) such changes or amendments will not change the nature of the Project to the extent that it would not constitute a “"project” " as authorized by the Enabling Law, and (2) such changes or amendments will not materially affect the utility of the Project for its intended use. The User may, without the consent of the Credit Obligor, make changes to the plans and specifications for the Project which do not increase the total cost of the Project by more than $100,000 in the aggregate for all such changes. The Issuer will make only such changes or amendments in the plans and specifications for the acquisition and construction of the Project as may be requested in writing by the User. (e) The Issuer and the User shall from time to time each appoint by written instrument an agent or agents authorized to act for each respectively in any or all matters relating to the acquisition and construction of the Project and payments to be made out of the Construction Fund. One of the agents appointed by the User shall be designated its Project Supervisor. Either the Issuer or the User may from time to time revoke, amend or otherwise limit the authorization of any agent appointed by such party to act on such party’s 's behalf or designate another agent or agents to act on such party’s 's behalf, provided that there shall be at all times at least one agent authorized to act on behalf of the Issuer, and at least one agent (who shall be the Project Supervisor) authorized to act on behalf of the User, with reference to all the foregoing matters. The Project Supervisor at any time designated by the User is hereby irrevocably appointed as agent for the Issuer to issue and execute, for and in the name and behalf of the Issuer and without any further approval of the governing body board of directors or any officer, employee or other agent thereof, a payment request or requisition on the Construction Fund. (f) In the event the proceeds derived from the sale of the Bonds are insufficient to pay in full all Project Costs, the User shall be obligated to complete the acquisition and construction of the Project at its own expense and the User shall pay any such deficiency and shall save the Issuer whole and harmless from any obligation to pay such deficiency. The User shall not by reason of the payment of such deficiency from its own funds be entitled to any diminution in Rental Payments.

Agreement to Acquire. (a) Simultaneously with the delivery of this Lease Agreement the Issuer shall cause the Bond proceeds to be deposited in the Construction Fund. The Issuer shall cause the proceeds of the Bonds to be advanced to the User by withdrawal from the Construction Fund, in accordance with the requirements of the Indenture, for the payment of Project Costs at such times and in such amounts as shall be directed by the User. The proceeds of the Bonds shall be used solely for the payment of Project Costs as provided in the Indenture. (b) The User will acquire and construct the Project with all reasonable dispatch and due diligence and will cause the Project to be placed in service as promptly as practicable. The Issuer will not execute any contract or purchase orders for the Project without the prior written consent of the User. (c) Compliance with laws and regulations necessary to realize any sales and use tax exemption with respect to the acquisition, construction and equipping of the Project shall be the sole responsibility of the User and the Issuer does not assume any responsibility or give any assurance with respect to any possible exemption from sales and use taxes. (d) The User may, with the prior written consent of the Credit Obligor, cause changes or amendments to be made in the plans and specifications for such acquisition and construction of the Project, provided (1) such changes or amendments will not change the nature of the Project to the extent that it would not constitute a “"project” " as authorized by the Enabling Law, and (2) such changes or amendments will not materially affect the utility of the Project for its intended use. The Issuer will make only such changes or amendments in the plans and specifications for the acquisition and construction of the Project as may be requested in writing by the User. (e) The Issuer and the User shall from time to time each appoint by written instrument an agent or agents authorized to act for each respectively in any or all matters relating to the acquisition and construction of the Project and payments to be made out of the Construction Fund. One of the agents appointed by the User shall be designated its Project Supervisor. Either the Issuer or the User may from time to time revoke, amend or otherwise limit the authorization of any agent appointed by such party to act on such party’s 's behalf or designate another agent or agents to act on such party’s 's behalf, provided that there shall be at all times at least one agent authorized to act on behalf of the Issuer, and at least one agent (who shall be the Project Supervisor) authorized to act on behalf of the User, with reference to all the foregoing matters. The Project Supervisor at any time designated by the User is hereby irrevocably appointed as agent for the Issuer to issue and execute, for and in the name and behalf of the Issuer and without any further approval of the governing body or any officer, employee or other agent thereof, a payment requisition on the Construction Fund. (f) In the event the proceeds derived from the sale of the Bonds are insufficient to pay in full all Project Costs, the User shall be obligated to complete the acquisition and construction of the Project at its own expense and the User shall pay any such deficiency and shall save the Issuer whole and harmless from any obligation to pay such deficiency. The User shall not by reason of the payment of such deficiency from its own funds be entitled to any diminution in Rental Payments.