Closing Disbursement Request Sample Clauses
Closing Disbursement Request. The undersigned is an agent for Lennar Homes of Texas Land and Construction, Ltd., (the “Developer”) or the City of Princeton (the “City”) and requests payment from the [Cost of Issuance Account] [Improvement Account] of the Project Fund (as defined in the Construction, Funding, and Acquisition Agreement) from Regions Bank, Houston, Texas (the “Trustee”) in the amount of DOLLARS ($ ) for the design, construction and acquisition of the listed authorized improvements for the Arcadia Farms Public Improvement District (“District”) and other costs incurred in the establishment, administration, and operation of the District. In connection to the above referenced payment, the Developer represents and warrants to the City that the undersigned is a duly authorized officer of the Developer, is qualified to execute this Closing Disbursement Request on behalf of the Developer, and is knowledgeable as to the matters set forth herein.
Closing Disbursement Request. The City and the Developer agree that from the PID Bond Proceeds and upon the presentation of evidence satisfactory to the City and the City’s financial consultants and attorneys, the City will cause the Trustee to pay, at closing of the Bonds, monies from the Costs of Issuance Account, to the persons entitled to the payment for costs of issuance of the Bonds and payment of costs incurred in the establishment, administration, and operation of the District at of the date of delivery of the Bonds, as described in the Service and Assessment Plan and the Indenture. In order to receive the disbursement described in this section, the Developer shall cause to be delivered to the Trustee a Closing Disbursement Request, substantially in the form of Exhibit B hereto or otherwise agreed to by the Developer, Administrator, and the City Representative for the disbursements. To be valid, the City must sign and agree to such Closing Disbursement Request.