Common use of Direction of Interim Reimbursement Payment Amount Clause in Contracts

Direction of Interim Reimbursement Payment Amount. Project Co hereby irrevocably directs Hospital to make the Interim Reimbursement Payment Amount to Agent or as Agent may direct as security for the Financing. Hospital shall pay the Interim Reimbursement Payment Amount as directed by Project Co and shall not accept any re-direction without the consent of Agent. Hospital and Project Co acknowledge that any monies contributed by MOHLTC for the Interim Reimbursement Payment Amount shall be deposited by MOHLTC directly into the Trust Account. Hospital acknowledges that Project Co’s interest in the Trust Account has been assigned to the Agent as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co under this Limited Assignment of Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to Agent or as Agent may direct out of the Trust Account all in accordance with and pursuant to the Trust Account Agreement. Hospital and Project Co further agree that any monies payable to the Contractor under this Limited Assignment of Construction Contract or the Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to the Contractor out of the Trust Account or as Contractor may direct out of the Trust Account. Hospital will pay the amounts that Project Co and Contractor are entitled to under this Limited Assignment of Construction Contract once the conditions for payment set out in the Construction Contract, if any, have been satisfied.

Direction of Interim Reimbursement Payment Amount. Project Co hereby irrevocably directs Hospital to make the Interim Reimbursement Payment Amount to Agent Lender or as Agent Lender may direct as security for the Financing. Hospital shall pay the Interim Reimbursement Payment Amount as directed by Project Co and shall not accept any re-direction without the consent of AgentLender. Hospital and Project Co acknowledge that any monies contributed by MOHLTC for towards the Interim Reimbursement Payment Amount costs of the Project shall be deposited by MOHLTC directly into the Trust Joint Account. Hospital acknowledges that Project Co’s interest in the Trust Joint Account has been assigned to the Agent Lender as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co under this Limited Assignment of Construction Contract that are funded by monies deposited in the Trust Joint Account shall be paid directly to Agent Lender or as Agent Lender may direct out of the Trust Account all in accordance with and pursuant to the Trust Account AgreementJoint Account. Hospital and Project Co further agree that any monies payable to the Contractor under this Limited Assignment of Construction Contract or the Construction Contract that are funded by monies deposited in the Trust Joint Account shall be paid directly to the Contractor out of the Trust Account or as Contractor may direct out of the Trust Joint Account. Hospital will pay the amounts that Project Co and Contractor are entitled to under this Limited Assignment of Construction Contract once the conditions for payment set out in the Construction Contract, if any, have been satisfied.

Direction of Interim Reimbursement Payment Amount. Project Co hereby irrevocably directs Hospital to make the Interim Reimbursement Payment Amount to Agent Lender or as Agent Lender may direct as security for the Financing. Hospital shall pay the Interim Reimbursement Payment Amount as directed by Project Co and shall not accept any re-direction without the consent of AgentLender. Hospital and Project Co acknowledge that any monies contributed by MOHLTC for the Interim Reimbursement Payment Amount shall be deposited by MOHLTC directly into the Trust Account. Hospital acknowledges that Project Co’s interest in the Trust Account has been assigned to the Agent Lender as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co under this Limited Assignment of Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to Agent Lender or as Agent Lender may direct out of the Trust Account all in accordance with and pursuant to the Trust Account AgreementAccount. Hospital and Project Co further agree that any monies payable to the Contractor under this Limited Assignment of Construction Contract or the Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to the Contractor out of the Trust Account or as Contractor may direct out of the Trust Account. Hospital will pay the amounts that Project Co and Contractor are entitled to under this Limited Assignment of Construction Contract once the conditions for payment set out in the Construction Contract, if any, have been satisfied.

Direction of Interim Reimbursement Payment Amount. Project Co hereby irrevocably directs Hospital to make the Interim Reimbursement Payment Amount to Agent or as Agent may direct as security for the Financing. Hospital shall pay the Interim Reimbursement Payment Amount as directed by Project Co and shall not accept any re-direction without the consent of Agent. Hospital and Project Co acknowledge that any monies contributed by MOHLTC for the Interim Reimbursement Payment Amount shall be deposited by MOHLTC directly into the Trust Account. Hospital acknowledges that Project Co’s interest in the Trust Account has been assigned to the Agent as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co under this Limited Assignment of Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to Agent or as Agent may direct out of the Trust Account all in accordance with and pursuant to the Trust Account AgreementAccount. Hospital and Project Co further agree that any monies payable to the Contractor under this Limited Assignment of Construction Contract or the Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to the Contractor out of the Trust Account or as Contractor may direct out of the Trust Account. Hospital will pay the amounts that Project Co and Contractor are entitled to under this Limited Assignment of Construction Contract once the conditions for payment set out in the Construction Contract, if any, have been satisfied.

Direction of Interim Reimbursement Payment Amount. Project Co hereby irrevocably directs Hospital to make the Interim Reimbursement Payment Amount to Agent Lender or as Agent Lender may direct as security for the Financing. Hospital shall pay the Interim Reimbursement Payment Amount as directed by Project Co and shall not accept any re-direction without the consent of AgentXxxxxx. Hospital and Project Co acknowledge that any monies contributed by MOHLTC for the Interim Reimbursement Payment Amount shall be deposited by MOHLTC directly into the Trust Account. Hospital acknowledges that Project Co’s interest in the Trust Account has been assigned to the Agent Lender as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co under this Limited Assignment of Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to Agent Lender or as Agent Lender may direct out of the Trust Account all in accordance with and pursuant to the Trust Account AgreementAccount. Hospital and Project Co further agree that any monies payable to the Contractor under this Limited Assignment of Construction Contract or the Construction Contract that are funded by monies deposited in the Trust Account shall be paid directly to the Contractor out of the Trust Account or as Contractor may direct out of the Trust Account. Hospital will pay the amounts that Project Co and Contractor are entitled to under this Limited Assignment of Construction Contract once the conditions for payment set out in the Construction Contract, if any, have been satisfied.