Application of Loan Proceeds. (a) The Borrower agrees to apply the Loan Proceeds solely and exclusively to the payment, or the reimbursement of the Borrower for the payment, of Project Costs and further agrees, upon the request of the Department, to exhibit to the Department, vouchers, statements, bills of sale or other evidence of the actual payment of such Project Costs. The Department shall disburse the Loan Proceeds to or for the account of the Borrower upon execution of this Agreement and upon receipt by the Department of the following:
Appears in 14 contracts
Samples: Financing Agreement (Middlesex Water Co), Financing Agreement (Middlesex Water Co), Financing Agreement (Middlesex Water Co)
