Application of Bond Proceeds. At and upon the delivery of and payment for the Bonds, the proceeds received therefrom shall be applied in accordance with the provisions of Section 511 of the Resolution. [END OF ARTICLE III]
Application of Bond Proceeds. The Trustee shall apply the proceeds of any Series of Bonds as provided in the Related Series Supplement.
Application of Bond Proceeds. The proceeds of sale of the Bonds shall be deposited with the Trustee for deposit in the Project Fund to be paid out in accordance with Section 8.01.
Application of Bond Proceeds. Upon the receipt of proceeds from the sale of a Series of Bonds, the Corporation shall apply such proceeds as specified herein and in the Supplemental Indenture authorizing such Series. Accrued interest, if any, received upon the delivery of a Series of Bonds shall be deposited in the Debt Service Fund unless all or any portion of such amount is to be otherwise applied as specified in the Supplemental Indenture authorizing such Series.
Application of Bond Proceeds. (A) Proceeds of any Series of Bonds shall be applied as provided in the applicable Supplemental Trust Agreement to any lawful purpose of the Trust.
(B) Subject to Section 2.7 hereof, the proceeds of any Series of Refunding Bonds shall be applied as provided in the Supplemental Trust Agreement authorizing such Series and in Section 11.1hereof to the extent applicable to such Series of Refunding Bonds.
Application of Bond Proceeds. The City represents and warrants that the proceeds of the Bonds shall be used as provided in the Transaction Documents. The City shall not take or omit to take any action which action or omission shall in any way cause or result in the proceeds from the sale of the Bonds being applied in a manner other than as provided in the Transaction Documents and as described in the Preliminary Official Statement and the Official Statement.
Application of Bond Proceeds. (a) The Authority shall loan all proceeds from the sale of the Bonds to the Company and the Authority shall cause the proceeds of the initial sale of the Bonds to be deposited with the Trustee in the “Project Fund,” which is hereby created with the Trustee. The Trustee will hold those proceeds in trust for the benefit of the Company and the Bondholders and will apply the proceeds in accordance with this Section 5.02. Moneys in the Project Fund will be allocated for federal income tax purposes to the payment of the Project Costs, or to the reimbursement of the Company for Project Costs paid by it. The Trustee shall disburse moneys in the Project Fund upon receipt of a requisition, substantially in the form as attached hereto as Exhibit B, signed by an Authorized Company Representative stating with respect to each disbursement to be made, the following:
(i) the name and address of the person, firm or corporation to whom payment is due or has been made (which may include the Company) is set forth on Schedule I attached thereto;
(ii) the amount to be or which has been paid is set forth on Schedule I attached thereto;
(iii) that the costs of an aggregate amount set forth in such requisition have been or will be made or incurred or financed and were or will be necessary for the Project and were made or incurred in accordance with the construction contracts, plans and specifications and building permits therefor then in effect;
(iv) that the amount paid or to be paid, as set forth in such requisition, represents a part of the amount that is or will be due and payable for Project Costs and was or will be made in accordance with the terms of any contracts applicable thereto and in accordance with usual and customary practice under existing conditions;
(v) that no part of the Project Costs was included within the costs referred to in any requisition previously filed with the Trustee under the provisions of this Indenture;
(vi) that (A) the withdrawal of moneys from the Project Fund and the use of the property financed or reimbursed therefrom has not and will not result in a violation of any representation, term or covenant in the Tax Agreement or Project Certificate and (B) any Favorable Opinion of Bond Counsel required to be delivered as a result of changes in the use of Project Fund moneys pursuant to Section 3.04 of the Loan Agreement has been delivered to the Trustee and the Authority;
(vii) that the amount remaining in the Project Fund, together with (A) moneys...
Application of Bond Proceeds. At and upon the delivery of and payment for the Series 2022 Bonds, the proceeds received therefrom shall be applied in the manner set forth in the Bond Resolution.
Application of Bond Proceeds. The proceeds of the Bond will be applied as drawn down pursuant to the terms hereof.
Application of Bond Proceeds. In connection with the issuance of bonds by either District (other than short-term tax increment revenue bonds issued by the XXXX), the applicable District Board shall enter into an Indenture of Trust (an "Indenture") and a banking institution acting as trustee acceptable to the District Board and TSVI (the "Trustee"), to deposit to the credit of a project fund or reimbursement fund (the "Project Fund" as shall be defined in the applicable Indenture), the proceeds of the District Bonds net of deposits for the payment of interest, if applicable, costs of issuance, a debt service reserve account and such other funds and accounts as may be more specifically described in the applicable Indenture. Moneys in the Project Fund shall be disbursed by the Trustee to reimburse TSVI for Reimbursable Costs.
(i) Requests for disbursement from the Project Fund shall be made substantially as follows: In each case, TSVI shall present to the Trustee a disbursement request (the "Disbursement Request"), the form of which shall be provided in the related Indenture, executed by a duly authorized representative of TSVI and an authorized officer of the District (as shall be defined and provided in the related Indenture), certifying that a component or components of Eligible Infrastructure have been dedicated to the Village, identifying in reasonable detail the work to which the payment relates.
(ii) Authorized representatives of the District issuing a series of bonds shall have the right, upon two (2) business days prior written notice to TSVI and during normal business hours, to review all books and records of TSVI pertaining to Reimbursable Costs.
