CUSTODY AND APPLICATION OF PROCEEDS OF BONDS Sample Clauses

CUSTODY AND APPLICATION OF PROCEEDS OF BONDS. Section 401. Construction Fund. The special fund created and designated "Tollway Construction Fund," and established initially with the Trustee under the Original Agreement is hereby reaffirmed, and into which (i) any amounts as determined by the Authority, and (ii) any Section 402. [RESERVED]
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CUSTODY AND APPLICATION OF PROCEEDS OF BONDS. Section 601.
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CUSTODY AND APPLICATION OF PROCEEDS OF BONDS. Section 6.01. Disbursement of Issuance Costs 17 Section 6.02. Deposit in the Loan Fund 17 Section 6.03. Disbursements from the Loan Fund 17 Section 6.04. Transfer to Bond Fund 18
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CUSTODY AND APPLICATION OF PROCEEDS OF BONDS 
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Related to CUSTODY AND APPLICATION OF PROCEEDS OF BONDS

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

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