Completion by Company. In the event that the proceeds of the Series 2017 Bonds are not sufficient to pay in full all 2017 Project Costs, the Company agrees, for the benefit of the Issuer and the Trustee, to pay all such sums as may be in excess of the proceeds of the Series 2017 Bonds. In the event that the proceeds of the Series 2020 Bonds are not sufficient to pay in full all 2020 Project Costs, the Company agrees, for the benefit of the Issuer and the Trustee, to pay all such sums as may be in excess of the proceeds of the Series 2020 Bonds. No payment pursuant to this Section shall entitle the Company to any diminution or abatement of any amounts payable by the Company under this Loan Agreement.
Completion by Company. (A) The Company agrees, for the benefit of the Agency, to complete the acquisition, reconstruction, rehabilitation and installation of the Facility and to pay all such sums as may be necessary therefor. Title to the interest in the Land acquired and the Facility constructed or installed at Company’s cost shall immediately upon such acquisition, reconstruction, rehabilitation or installation vest in the Agency. The Company shall execute, deliver and record or file such instruments as the Agency may request in order to perfect or protect the Agency’s title to or interest in such portions of the Land and the Facility.
Completion by Company. (a) In the event Net Proceeds of the Loan, if any, are not sufficient to pay in full all costs of acquiring, construction and equipping the Facility in accordance with the Plans and Specifications, the Company agrees to pay, for the benefit of the Agency and such Lender, if any, all such sums as may be in excess of Net Proceeds of such Loan, if any. Title to, or a leasehold interest in, all portions of the Facility acquired, installed or constructed at the Company’s cost or expense shall immediately upon such acquisition, installation or construction vest in the Agency. The Company shall execute, deliver and record or file such instruments as the Agency or such Lender, if any, may request in order to perfect or protect the Agency’s interest or title in or the lien of any Mortgage on such portions of the Facility.
Completion by Company. (a) The Company agrees to pay, for the benefit of the Agency, all costs of acquiring, constructing and equipping the Company Facility in accordance with the Plans and Specifications, as revised pursuant to Section 4.1(b). Title to all portions of the Company Facility acquired, installed or constructed at the Company’s cost or expense shall immediately upon such acquisition, installation or construction vest in the Agency.
Completion by Company. (a) The Company agrees to pay in full all costs of acquiring, renovating and equipping the Facility for the benefit of the Agency. Title to all portions of the Facility installed or constructed at the Company's cost or expense shall immediately upon such installation or construction vest in the Agency and shall be subject to the rights, security interests and liens created by and granted by the Security Documents and subject to Permitted Encumbrances. The Company shall execute, deliver and record or file such instruments as the Agency may request in order to perfect or protect the Agency's title to such portions of the Facility, subject to Permitted Encumbrances.
Completion by Company. (a) Upon submission of a written requisition certified by an Authorized Representative of the Company, the Construction Monitor shall first confirm whether the proceeds of the Bonds and Company equity then available in the Project Fund are sufficient to pay in full all Project Costs. In the event that the Construction Monitor shall determine there are not sufficient funds to pay all Project Costs (a “Shortfall”), the Construction Monitor shall immediately notify the Trustee in writing of such determination who shall then as soon as practicable notify the Company thereof, and no further funds from the Project Fund (except from the Capitalized Interest Account) shall be disbursed unless and until the Company has deposited sufficient funds, as determined by the Construction Monitor and indicated to the Trustee in writing by the Construction Monitor, into the Equity Account of the Project Fund such that the funds on deposit therein shall eliminate such Shortfall and be sufficient to pay all Project Costs. No payment pursuant to this Section shall entitle the Company to any diminution or abatement of any amounts payable by the Company under this Loan Agreement. In addition, the Company shall notify the Guarantor if the funds on deposit in the Project Fund are not sufficient to pay in full all Project Costs. In the event the Construction Monitor determines that there is a Shortfall, a failure by the Company to cure such Shortfall within thirty (30) days of notice of such Shortfall from the Trustee to the Company shall constitute an Event of Default.
Completion by Company. (A) In the event that the proceeds of the Bonds are not sufficient to pay in full all costs of acquiring the Land, constructing the Facility and acquiring and installing the Equipment, the Company agrees, for the benefit of the Issuer and the Trustee and the Bank, to complete such acquisition, construction and installation and to pay all such sums as may be in excess of the moneys available therefor in the Project Fund. Title to the interest in the Facility constructed and the Equipment acquired or installed at the Company's expense shall immediately upon such acquisition, construction or installation vest in the Issuer. The Company shall execute, deliver and record or file such instruments as the Issuer may request in order to perfect or protect the Issuer's title to or interest in such portions of the Facility and the Equipment as are contemplated in this paragraph.
Completion by Company. (a) in the event that the Net Proceeds of the Loan are not sufficient to pay in full all costs of acquiring, constructing and equipping the Facility in accordance with the Plans and Specifications, the Company agrees to pay, for the benefit of the Agency and the Mortgagee, all such sums as may be in excess of the Net Proceeds of the Loan. Title to all portions of the Facility installed or constructed at the Company's cost or expense shall immediately upon such installation or construction vest in the Agency. The Company shall execute, deliver and record or file such instruments as the Agency or the Mortgagee may request in order to perfect or protect the Agency's title to or the lien of the Mortgage on such portions of the Facility.
Completion by Company. 7 1.5 Issuance of Bonds ........................................ 7 1.6
Completion by Company. It is hereby recognized by the parties hereto that the proceeds of the Bonds will not be sufficient to pay the total cost of the Project. The Company hereby agrees that it shall pay the portion of the cost of the Project as may be in excess of the moneys therefor in the Construction Fund and shall not be entitled to any reimbursement therefor from the County or from the Trustee or from the holders of any of the Bonds, nor shall it be entitled to any diminution of the rents payable under this Lease Agreement.
