Application of Proceeds for Facilities Sample Clauses

Application of Proceeds for Facilities. On the date of issuance of the 2023 Series A Bonds, an amount equal to $ of the proceeds of the 2023 Series A Bonds shall be deposited into the Acquisition and Construction Fund established in the Bond Indenture and shall be applied to finance the construction and acquisition of the Facilities listed in Exhibit A. Any additional amounts transferred from the Escrow Fund and Escrow Interest Account to the Acquisition and Construction Fund in accordance with Section 3.11(b)(3)(iii) of the Bond Indenture shall also be applied to finance the construction and acquisition of the Facilities listed in Exhibit A. The Facilities, other than the Water District Facilities listed in Exhibit A Part II, the School District Facilities listed in Part III, the Fire Authority Facilities listed in Part IV, and the portions of the Facility listed in Part V. which are the Privately-Owned Dry Utilities, are to be constructed by the Company for acquisition by the County with financing provided by the District in accordance with this Agreement and the Act, and are referred to herein each as a “Project Facility” and collectively as the “Project Facilities.” The portions of the Facility listed in Part V. which are the Privately-Owned Dry Utilities to be constructed by the Company and conveyed to one or more public utilities, are eligible for financing provided by the District in accordance with this Agreement and the Act, provided that the requirements of Section 53313.5(e) of the Government Code are satisfied. Prior to any proceeds or funds being distributed to Company pursuant to this Agreement for reimbursement of costs associated with a Project Facility, that Facility shall have been first inspected by the County and received approval of completion in accordance with this Agreement. Prior to any proceeds or funds being distributed to Company pursuant to this Agreement for reimbursement of costs associated with Privately-Owned Dry Utilities, evidence of approval and acceptance by each applicable public utility of such Privately-Owned Dry Utilities shall be provided to the County in a form acceptable to the Director (as defined below). The proceeds of 2023 Series A Bonds deposited into the Acquisition and Construction Fund as set forth this Section 3(b), including amounts released to the Acquisition and Construction Fund pursuant to Section 3.11(b)(3)(iii) of the Bond Indenture, if any, shall be funded in the following priority until all available funds have been allocated: (i) fir...
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Related to Application of Proceeds for Facilities

  • Application of Proceeds The Collateral Agent shall apply the proceeds of any collection, sale, foreclosure or other realization upon any Collateral, including any Collateral consisting of cash, as follows: FIRST, to the payment of all costs and expenses incurred by the Administrative Agent or the Collateral Agent (in their respective capacities as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent or the Administrative Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among the Administrative Agent, any Swingline Lender and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution); THIRD, to the payment in full of all other Obligations (the amounts so applied to be distributed (subject to the first proviso to Section 3.01 and clause (B) of the first proviso to Section 4.01(a)) among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

  • Exclusion of applications on preliminary points of law Any recourse to any Court for the determination of a preliminary point of law arising in the course of the arbitration proceedings is excluded.

  • Application of Trust Money The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities.

  • Use of Proceeds The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Prospectus under “Use of Proceeds.”

  • Use of Proceeds of the Loan Section 3.01. The Borrower shall cause the proceeds of the Loan to be applied to the financing of expenditures on the Project in accordance with the provisions of this Loan Agreement.

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