Albion Construction Account Sample Clauses
Albion Construction Account. (a) The Borrowers shall cause the following amounts to be paid into the Albion Construction Account:
(i) all proceeds of the Albion Construction Loans (except for proceeds of Borrowings of any Albion Excess Construction Loan Commitment or as otherwise applied on the Conversion Date in accordance with Section 2.04(g) (Borrowing of Loans));
(ii) all proceeds of Bloomingburg or Linden Excess Construction Loan Commitments to be applied to Albion Project Costs;
Albion Construction Account. (i) Cause the proceeds of the Albion Notes (other than the exceptions as set forth in Section 7.1(u) hereto) and the proceeds of the Class A Units to be paid into the Albion Construction Account. Unless a Notice of Suspension is in effect or an Event of Default would occur after giving effect to any application of funds contemplated hereby, the Company may request that Albion direct the transfer or withdrawal of funds standing to the credit of the Albion Construction Account to pay Albion Project Costs then due and owing strictly in accordance with the Albion Construction Budget and shall cause Albion to prepare an Albion Construction Withdrawal Certificate causing Albion to direct the Accounts Banks to apply such proceeds for application strictly in accordance with the relevant Funding Notice. Company shall cause Albion to confirm that all payments from the Albion Construction Account shall be made directly by the Accounts Bank pursuant to instructions set forth in the relevant certificate delivered by Borrower’s Agent (as defined in the Senior Credit Agreement) to the Accounts Bank.