Application of Proceeds of Bonds. The proceeds received on the Closing Date by the Issuer from the sale of the Bonds shall be deposited with the Bondowner Representative, who shall deposit any portion of such proceeds which are not to be concurrently disbursed to or for the account of the Borrower into the Program Fund created pursuant to Section 3.03. The Bondowner Representative shall deposit any portion of any future advance of the purchase price of the Bonds which is not to be concurrently disbursed to or for the account of the Borrower into the Program Fund.
Application of Proceeds of Bonds. On the date of issuance of the Bonds, the Issuer shall cause the proceeds of the Bonds to be deposited in the Construction Fund pursuant to Section 7.02 of the Indenture and applied as provided therefor.
Application of Proceeds of Bonds. On the date of issuance of -------------------------------- the Bonds, the proceeds of the Bonds (such amount being equal to $4,100,000) shall be deposited in the Acquisition/Construction Fund pursuant to Section 7.02 and applied as provided therefor.
Application of Proceeds of Bonds. The proceeds received by the Authority from the sale of the Bonds in the amount of $19,500,000 shall be deposited with the Trustee in the Bond Proceeds Fund, which the Trustee shall establish hereunder and hold in trust. The Trustee shall transfer such money in the Bond Proceeds Fund upon Written Order of the Borrower to repay the Interim Loan and thereby refunding the Prior Bonds. Upon completion of the foregoing transfer, the Bond Proceeds Fund shall close.
Application of Proceeds of Bonds. (A) The Issuer shall deposit with the Trustee all of the proceeds from the sale of the Bonds, including accrued interest payable on the Bonds. The Trustee shall deposit the proceeds from the sale of the Bonds as follows:
(1) the portion of the proceeds of the Bonds representing accrued interest on the Bonds into the Bond Fund, and (2) the Trustee shall deposit the remainder of such proceeds into the Project Fund.
(B) The proceeds of any Additional Bonds shall be deposited as provided in the supplement to this Indenture authorizing the issuance of such Additional Bonds. Any such proceeds required to be deposited in the Project Fund shall be deposited in the appropriate subaccount relating to such Additional Bonds within the Project Fund.
Application of Proceeds of Bonds. The proceeds received by the Issuer from the sale of the Bonds in the amount of $37,100,000 shall be deposited with the Trustee, and the Trustee shall transfer such proceeds to JPMorgan Chase Bank, as trustee for the Prior Bonds, to be applied to the redemption of the Prior Bonds.
Application of Proceeds of Bonds. The City shall cause the proceeds from the sale of the Bonds in the amount of $ to be set aside as follows:
(A) $ deposited in the Bond Reserve Fund (created by Section 6.4 (Allocation of Special Taxes) which amount is equal to the initial Bond Reserve Requirement;
(B) $ deposited in the Costs of Issuance Fund (created by Section 3.2 (Establishment and Application of Costs of Issuance Fund)); and
(C) $ transferred to MUFG Union Bank, N.A., as escrow agent to be held in the Escrow Fund (created by Section of the Escrow Agreement). The Fiscal Agent may, in its discretion, establish a temporary fund or account to facilitate the foregoing transfers.
Application of Proceeds of Bonds. The Trustee shall deposit the amount received by it for the account of the Issuer on the Original Issue Date into the appropriate Project Fund Account or Project Fund Accounts established pursuant to Section 3.02. It is the intention of the Parties that neither the entire $3,000,000 principal amount of the Series A Bonds nor the entire $500,000 principal amount of the Series B Bonds nor the entire $500,000 principal amount of the Series C Bonds will, in any case, be funded on the Effective Date. Rather, the Borrowers will submit one or more Borrowers’ Requisitions to the Trustee and the Original Purchaser in accordance with Section 4.02. The Original Purchaser shall review each such Borrowers’ Requisition and if, in the Original Purchaser’s absolute discretion, the Original Purchaser shall approve such Borrowers’ Requisition, the Original Purchaser shall (i) disburse the amount requested in such Borrowers’ Requisition directly to or on behalf of the Borrowers as specified in the applicable Borrowers’ Requisition, and (ii) notify the Trustee of such disbursement, and thereupon the Trustee shall be deemed to have received such amount from the Original Purchaser in payment of a corresponding amount of the original purchase price of the Series A Bonds, Series B Bonds or Series C Bonds, as the case may be, and to have deposited such amount into the applicable Project Fund Account, and to have contemporaneously disbursed such amount in payment or reimbursement of Project Costs in accordance with Section 4.02.
Application of Proceeds of Bonds. The proceeds of the sale of the Bonds shall be deposited by the Issuer with the Trustee as provided in the Indenture and, following the Completion Date and upon submission to the Trustee of a Request for Disbursement certified by an Authorized Representative of the Company, and otherwise complying with the requirements of the Indenture, the Reimbursement Agreement and the Building Loan Agreement, shall be applied to pay the following items of cost and expenses in connection with the acquisition of the Land, the construction of the Facility, the acquisition and installation of the Equipment and the financing of the same, and for no other purpose:
(A) the cost of preparing the Plans and Specifications as they relate to the Facility and the Equipment (including any preliminary study or planning for the Facility and the Equipment or any necessary further study or any aspect thereof);
(B) all costs incurred in connection with the acquisition of the Land, the construction of the Facility and the acquisition and installation of the Equipment (including architectural, engineering and supervisory services with respect thereto);
(C) all fees, taxes, charges and other expenses for recording or filing, as the case may be, the Assignment, the Installment Sale Agreement or a Memorandum thereof, the Indenture, the Mortgage, the Collateral Mortgage any other agreement contemplated hereby, any financing statements and any title curative documents that the Issuer or the Trustee or the Bank may deem desirable in order to perfect or protect the Issuer's, the Trustee's, the Bank's or the Company's respective interests in the Project Facility, and any security interests contemplated by the Financing Documents;
(D) all fees and expenses in connection with any actions or proceedings that the Issuer or the Trustee or the Bank may deem desirable in order to perfect or protect the Issuer's, the Trustee's, the Bank's or the Company's respective interests in the Project Facility, except for removing Permitted Encumbrances;
(E) any expenses of the Company in enforcing any remedy against any contractor or subcontractor in accordance with Section 4.6 hereof;
(F) the cost of all insurance maintained with respect to the Project Facility pursuant to Section 6.3 hereof during the Construction Period and the cost of maintaining a payment and performance bond (or letter of credit in substitution therefor), if any, with respect to the Construction Contract;
(G) all interest payable on the Bonds...
Application of Proceeds of Bonds. (a) The Series 1990A Bonds. From the net proceeds of the Series 1990A Bonds there shall first be set aside with the Trustee as Revenues in the Bond Fund an amount representing the accrued interest, if any, received on the sale of the Series 1990A Bonds, as provided in Section 5.2 hereof. Thereafter, the Trustee shall forthwith deposit the balance of the net proceeds of the Series 1990A Bonds in the Construction Fund.
(b) Proceeds of any series of Additional Bonds shall be applied as provided in the Supplemental Indenture for such series of Bonds.
