Deposits into the Capital Expenditure Reserve Fund. Upon the Project achieving Substantial Completion (as provided in the Amended and Restated Comprehensive Agreement), $19,000,000 shall be deposited to the Capital Expenditure Reserve Fund out of funds paid pursuant to the Equity Funding Agreements. To the extent the amount in the Capital Expenditure Reserve Fund exceeds $19,000,000 after any transfer of funds from the Construction Fund to the Capital Expenditure Reserve Fund, as described in Section 5.1(c) hereof, such excess shall be transferred to the Revenue Stabilization Reserve Fund.
Deposits into the Capital Expenditure Reserve Fund. Section 8.7 shall be deleted in its entirety and replaced with the following:
Deposits into the Capital Expenditure Reserve Fund. Within two (2) Business Days after receipt from the Saints of any Capital Cost Payment, the City shall deposit such amounts into the Capital Expenditure Reserve Fund. The City shall also deposit any funds received by it from Revenue Sharing into the Capital Expenditure Reserve Fund. In the event of a Sale of a Controlling Interest, fifty percent (50%) of the amount payable to the City pursuant to Section 7.2(b) shall be deposited in the Capital Expenditure Reserve Fund.
