Common use of Completion Guaranty Deposit Account Clause in Contracts

Completion Guaranty Deposit Account. On or prior to the Closing Date, there shall be established at Deutsche Bank Trust Company Americas, as the Securities Intermediary, the Completion Guaranty Deposit Account pursuant to the Completion Guaranty Collateral Account Agreements. There shall be deposited into the Completion Guaranty Deposit Account all cash amounts described in Section 3.1.25(c). Subject to the provisions of Section 10.2 and the Completion Guaranty Collateral Account Agreements, amounts on deposit in the Completion Guaranty Deposit Account shall, from time to time, be transferred to the Company's Funds Account in accordance with Section 5.8.3(a) and thereafter transferred by (a) the Disbursement Agent to the Collection Account and thereafter to the Disbursement Account or (b) to the Collection Account in accordance with Section 5.8.3(b) and thereafter to the Disbursement Account, in each case, for application to pay Project Costs in accordance with Sections 2.4.4(a) and 2.5.4 or applied to prepayment of the Obligations in accordance with Section 5.21. The Disbursement Agent shall cause investment income from Permitted Investments on amounts on deposit in the Completion Guaranty Deposit Account to be transferred to and deposited in the Company's Funds Account within two (2) Banking Days following the end of each calendar month. All amounts remaining on deposit in the Completion Guaranty Account other than amounts reserved pursuant to Section [ ] shall be released to the Completion Guarantor on the Completion Guaranty Release Date. All amounts remaining on deposit in the Completion Guaranty Deposit Account shall be released to the Completion Guarantor on the Final Completion Date in accordance with Section 2.11.

Completion Guaranty Deposit Account. On or prior to the Closing Date, there shall be established at Deutsche Bank Trust Company Americas, as the Securities Intermediary, the Completion Guaranty Deposit Account pursuant to the Completion Guaranty Collateral Account Agreements. There shall be deposited into the Completion Guaranty Deposit Account all cash amounts described in Section 3.1.25(c). Subject to the provisions of Section 10.2 and the Completion Guaranty Collateral Account Agreements, amounts on deposit in the Completion Guaranty Deposit Account shall, from time to time, be transferred or applied by the Disbursement Agent (a) to the Company's Funds Account in accordance with Section 5.8.3(a5.8.3(b) and thereafter transferred by (a) the Disbursement Agent to the Collection Account and thereafter to the Disbursement Account or (b) to the Collection Disbursement Account in accordance with Section 5.8.3(b) and thereafter to the Disbursement Account5.8.3(c), in each case, for application to pay Project Costs in accordance with Sections 2.4.4(a) and 2.5.4 or (c) applied to prepayment of the Obligations in accordance with Section 5.21. The Disbursement Agent shall cause investment income from Permitted Investments on amounts on deposit in the Completion Guaranty Deposit Account to be transferred to and deposited in the Company's Funds Account within two (2) Banking Days following the end of each calendar month. All The Disbursement Agent shall release all amounts remaining on deposit in the Completion Guaranty Account Account, other than amounts reserved pursuant to Section [ ] shall be released the Reserved Amounts, to the Completion Guarantor on the Completion Guaranty Release Date. All The Disbursement Agent shall release all amounts remaining on deposit in the Completion Guaranty Deposit Account shall be released to the Completion Guarantor on the Final Completion Date in accordance with Section 2.11.