Application of Balance in Construction Fund Sample Clauses

Application of Balance in Construction Fund. When a Certificate of the Borrower Representative prepared pursuant to Section 3.6 of the Loan Agreement shall have been furnished to the Trustee, any balance in the Construction Fund (after reserving such amount as the Borrower Representative shall deem necessary for the payment of any remaining amounts due or to become due for Project Costs, and after returning to the Borrower any contingent funds which may have been deposited by the Borrower into the Construction Fund as additional funds to finance the total Project Costs and found to be unnecessary for such purpose) shall be deposited in the Bond Fund and shall be credited against the next Loan Repayment due under the Loan Agreement.
Sample 1
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Related to Application of Balance in Construction Fund

  • Governing Law THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

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  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

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