Common use of Company Required to Pay in Event Construction Fund Insufficient Clause in Contracts

Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost of the Project should not be sufficient to pay the Cost of the Project in full, Company agrees to complete the Project and to pay that portion of the Cost of the Project in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the Project. Issuer does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost of the Project will be sufficient to pay all of the Cost of the Project. Company agrees that if, after exhaustion of the moneys in the Construction Fund, Company should pay any portion of the Cost of the Project pursuant to the provisions of this Section, Company shall not be entitled to any reimbursement therefor from Issuer, Trustee, or the owners of any of the Bonds, nor shall Company be entitled to any limitation of the amounts payable under Sections 4.1 and 4.2 hereof.

Appears in 2 contracts

Samples: Loan Agreement (American Railcar Industries, Inc./De), Loan Agreement (American Railcar Industries, Inc./De)

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Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost Costs of the Project should not be sufficient to pay the Cost Costs of the Project in full, the Company agrees to complete the Project and to pay that portion of the Cost Costs of the Project in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the ProjectFund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost Costs of the Project will be sufficient to pay all of the Cost Costs of the Project. The Company agrees that if, if after exhaustion of the moneys in the Construction Fund, the Company should pay any portion of the Cost Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, Trustee, the Trustee or the owners Owners of any of the Bonds, nor shall the Company be entitled to any limitation diminution of the amounts payable under Sections 4.1 and Section 4.2 hereof.

Appears in 2 contracts

Samples: Loan Agreement (Lesco Inc/Oh), Loan Agreement (Exactech Inc)

Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost Costs of the Project should not be sufficient to pay the Cost Costs of the Project in full, the Company agrees to complete the Project and to pay that portion of the Cost Costs of the Project in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the ProjectFund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost Costs of the Project will be sufficient to pay all of the Cost Costs of the Project. The Company agrees that if, if after exhaustion of the moneys in the Construction Fund, the Company should pay any portion of the Cost Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, Trustee, the Trustee or the owners Owners of any of the Bonds, nor shall the Company be entitled to any limitation diminution of the amounts payable under Sections 4.1 and Section 4.2 hereof.. * END OF ARTICLE III *

Appears in 1 contract

Samples: Loan Agreement (Tower Tech Inc)

Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost of the Project should not be sufficient to pay the Cost of the Project in full, Company agrees to complete the Project and to pay that portion of the Cost of the Project in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the Project. Issuer does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost of the Project will be sufficient to pay all of the Cost of the Project. Company agrees that if, after exhaustion of the moneys in the Construction Fund, Company should pay any portion of the Cost of the Project pursuant to the provisions of this Section, Company shall not be entitled to any reimbursement therefor from Issuer, Trustee, or the owners of any of the Bonds, nor shall Company company be entitled to any limitation of the amounts payable under Sections 4.1 and 4.2 Section 5.3 hereof.

Appears in 1 contract

Samples: Lease Agreement (American Railcar Industries, Inc.)

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Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost Project Costs (including the proceeds of any additional bonds issued for the Project purpose of paying the cost of completing the Project) should not be sufficient to pay the Cost of the Project Costs in full, the Company agrees to complete the Project and to pay that portion of the Cost of the Project Costs in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the ProjectFund. Issuer The Board does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost of the Project Costs will be sufficient to pay all of the Cost of the ProjectProject Costs. The Company agrees that if, if after exhaustion of the moneys in the Construction Fund, Fund the Company should pay any portion of the Cost of the Project Costs pursuant to the provisions of this Section, Company it shall not be entitled to any reimbursement therefor (except from Issuerthe proceeds of additional bonds, Trustee, if any) from the Board or from the owners Trustee or from the holders of any of the Bonds, nor shall Company it be entitled to any limitation diminution of the amounts payable under Sections 4.1 and 4.2 Section 4.3 hereof.

Appears in 1 contract

Samples: Installment Sale Agreement (Southern Power Co)

Company Required to Pay in Event Construction Fund Insufficient. In the event the moneys in the Construction Fund available for payment of the Cost Costs of the Project should not be sufficient to pay the Cost Costs of the Project in full, the Company agrees to complete the Project and to pay that portion of the Cost Costs of the Project in excess of the moneys available therefor in the Construction Fund or to lease Leased Equipment to complete the ProjectFund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Construction Fund and available for payment of the Cost Costs of the Project will be sufficient to pay all of the Cost Costs of the Project. The Company agrees that if, if after exhaustion of the moneys in the Construction Fund, the Company should pay any portion of the Cost Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, Trustee, the Trustee or the owners Owners of any of the Bonds, nor shall the Company be entitled to any limitation diminution of the amounts payable under Sections 4.1 and Section 4.2 hereof. Costs of the Project shall include, but not be limited to, conveyance, transfer and recording costs and all taxes and charges related thereto.

Appears in 1 contract

Samples: Loan Agreement (Heico Corp)

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