Company Required to Pay in Event Project Fund Insufficient. In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs of the Project in full, the Company agrees to complete the Project or cause the Project to be completed and to pay that portion of the Costs of the Project in excess of the moneys available therefor in the Project Fund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the Project. The Company agrees that if after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the Owners of any of the Bonds, nor shall the Company be entitled to any diminution of the amounts payable under Section 4.02 hereof.
Appears in 8 contracts
Samples: Loan Agreement (Macquarie Infrastructure Corp), Loan Agreement (Macquarie Infrastructure Corp), Loan Agreement (Macquarie Infrastructure Corp)
Company Required to Pay in Event Project Fund Insufficient. In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs of the Project in full, the Company agrees to complete the Project or cause the Project to be completed and to pay that portion of the Costs of the Project in excess of the moneys available therefor in the Project Fund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the Project. The Company agrees that if after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the Owners of any of the Bonds, nor shall the Company be entitled to any diminution of the amounts payable under Section 4.02 hereof.
Appears in 5 contracts
Samples: Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.)
Company Required to Pay in Event Project Fund Insufficient. In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs total Cost of the Project in fullProject, the Company agrees to complete the Project or cause the Project to be completed and to pay that portion of the Costs of the Project such cost in excess of the moneys available therefor therefore in the Project Fund. The Issuer does not make any warranty, either express or implied, provided that no obligation shall exist under this covenant in the event that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the ProjectBonds are fully repaid. THE ISSUER MAKES NO WARRANTY, EITHER EXPRESS OR IMPLIED, THAT THE MONEYS PAID INTO THE PROJECT FUND AND AVAILABLE FOR PAYMENT OF THE COST OF THE PROJECT WILL BE SUFFICIENT TO PAY THE TOTAL COST OF THE PROJECT. The Company agrees that if if, after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs total Cost of the Project pursuant to the provisions of this Section, the Company it shall not be entitled to any reimbursement therefor therefore from the Issuer, the Trustee Trustee, or the Owners of any of the Bonds, nor Bondholder and it shall the Company not be entitled to any abatement or diminution of the amounts payable under payments required to be made by the Company pursuant to the Note or Section 4.02 3.1 hereof.
Appears in 2 contracts
Samples: Loan Agreement (New Ships, Inc.), Loan Agreement (New Ships, Inc.)
Company Required to Pay in Event Project Fund Insufficient. In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs of the Project in full, the Company agrees to complete the Project or cause the Project to be completed and to pay pay, or to provide for payment of, that portion of the Costs of the Project in excess of the moneys available therefor in the Project Fund. The Issuer does not make any warranty, either express or implied, that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the ProjectCosts. The Company agrees that if after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the Owners of any of the Bonds, nor shall the Company be entitled to any diminution of the amounts payable under Section 4.02 hereof4.2 hereof or under the Note.
Appears in 1 contract
Samples: Loan Agreement (Flanders Corp)
Company Required to Pay in Event Project Fund Insufficient. In the event the moneys in the Project Fund available for payment of the Costs of the Project should not be sufficient to pay the Costs of the Project in full, the Company agrees to complete the Project or cause the Project to be completed and to pay pay, or to provide for payment of, that portion of the Costs of the Project in excess of the moneys available therefor in the Project Fund. , The Issuer does not make any warranty, either express or implied, that the moneys paid into the Project Fund and available for payment of the Costs of the Project will be sufficient to pay all of the Costs of the ProjectCosts. The Company agrees that if after exhaustion of the moneys in the Project Fund, the Company should pay any portion of the Costs of the Project pursuant to the provisions of this Section, the Company shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the Owners of any of the Bonds, nor shall the Company be entitled to any diminution of the amounts payable under Section 4.02 hereof4.2 hereof or under the Note.
Appears in 1 contract
Samples: Loan Agreement (Flanders Corp)