Common use of Completion of the Project Clause in Contracts

Completion of the Project. (a) The completion of the Project shall be evidenced to the Trustee by a certificate signed by the Project Supervisor on behalf of the User stating that (1) construction of the Improvements has been completed in accordance with the plans and specifications approved by the User, (2) the Equipment has been acquired and installed in accordance with the User's instructions, (3) all Project Costs have been paid, and (4) all facilities and improvements necessary in connection with the Project have been acquired and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against any vendor, contractor, subcontractor or other person not a party to this Lease Agreement which exist at the date of such certificate or which may subsequently come into being. The Issuer and the User will cooperate in causing such certificate to be furnished to the Trustee. (b) After the delivery of the aforesaid certificate to the Trustee, any moneys then remaining in the Construction Fund shall be transferred to the Bond Fund and applied as provided therein.

Appears in 4 contracts

Samples: Lease Agreement (Cavalier Homes Inc), Lease Agreement (Cavalier Homes Inc), Lease Agreement (Cavalier Homes Inc)

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Completion of the Project. (a) The completion of the Project shall be evidenced to the Trustee by a certificate signed by the Project Supervisor on behalf of the User stating that (1) construction of the Improvements has been completed in accordance with the plans and specifications approved by the User, (2) the Equipment has been acquired and installed in accordance with the User's instructions, (3) all Project Costs have been paid, and (4) all facilities and improvements necessary in connection with the Project have been acquired and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against any vendor, contractor, subcontractor or other person not a party to this Lease Agreement which exist at the date of such certificate or which may subsequently come into being. The Issuer and the User will cooperate in causing such certificate to be furnished to the Trustee. (b) After the delivery of the aforesaid certificate to the Trustee, any moneys then remaining in the Construction Fund shall be transferred to the Bond Fund and applied as provided thereinin the Indenture.

Appears in 3 contracts

Samples: Bond Guaranty Agreement (Johnstown America Industries Inc), Lease Agreement (Winsloew Furniture Inc), Lease Agreement (Cavalier Homes Inc)

Completion of the Project. (a) The completion of the Project shall be evidenced to the Trustee by a certificate signed by the Project Supervisor on behalf each of the User Users stating that (1) construction due acquisition or construction, as the case may be, of the Improvements Project has been completed in accordance with the plans and specifications approved by the UserUsers, (2) the Equipment equipment for the Project has been acquired and installed instalIed in accordance with the User's Users' instructions, (3) all Project Costs have been paid, and (4) all facilities and improvements necessary in connection with the Project have been acquired and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against any vendor, contractor, subcontractor or other person not a party to this Lease Loan Agreement which exist at the date of such certificate or which may subsequently come into being. The Issuer and the User Users will cooperate in causing such certificate to be furnished to the Credit Obligor and Trustee. (b) After the delivery of the aforesaid certificate to the Trustee, Trustee any moneys then remaining in the Acquisition/Construction Fund shall be transferred to the Bond Fund and applied as provided thereinin the Indenture.

Appears in 2 contracts

Samples: Loan Agreement (Color Imaging Inc), Loan Agreement (Color Imaging Inc)

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Completion of the Project. (a) The completion of the Project shall be evidenced to the Trustee by a certificate signed by the Project Supervisor on behalf of the User stating that (1) construction of the Improvements has been completed in accordance with the plans and specifications approved by the User, (2) the Equipment has been acquired and installed in accordance with the User's ’s instructions, (3) all Project Costs have been paid, and (4) all facilities and improvements necessary in connection with the Project have been acquired and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against any vendor, contractor, subcontractor or other person not a party to this Lease Agreement which exist at the date of such certificate or which may subsequently come into being. The Issuer and the User will cooperate in causing such certificate to be furnished to the Trustee. (b) After the delivery of the aforesaid certificate to the Trustee, any moneys then remaining in the Construction Fund shall be transferred to the Bond Fund and applied as provided thereinin the Indenture.

Appears in 2 contracts

Samples: Lease Agreement (Accuride Corp), Lease Agreement (Transportation Technologies Industries Inc)

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