Common use of Disbursements from Construction Account Clause in Contracts

Disbursements from Construction Account. Amounts shall be disbursed from each Construction Sub-Account from time to time as provided in this Section 7. 1. Borrower shall have the right to cause Administrative Agent (a) to disburse amounts from the Construction Sub-Account for the corresponding Project to the accounts of each of the Contractors performing work on such Project for amounts due and owing to such Contractors under the Construction Contracts, or to any other materialmen, subcontractors, Administrative Agent or any other Person performing work on such Project in payment of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate, (b) to transfer up to $250,000 in any month from the Construction Sub-Account with respect to a Project to the Operating Account with respect to such Project to pay specified amounts of less than $50,000, individually, (c) to maintain up to $100,000 in any Operating Account by transferring amounts from the corresponding Construction Sub-Account to pay unspecified amounts (the expenditure of which shall be identified, and substantiated to the reasonable satisfaction of Administrative Agent in the immediately subsequent Construction Drawdown Certificate), (d) to disburse amounts from the Turbine Purchase Sub-Account for the corresponding Turbine to the account of the Turbine Purchase Contractor performing work with respect to such Turbine in payment for amounts due and owing to such Turbine Purchase Contractor under the Turbine Purchase Contract in accordance with a duly completed Turbine Purchase Drawdown Certificate, and (e) to transfer amounts (i) from the Construction Sub-Account for the corresponding Project to the Operating Account with respect to such Project for payment by Borrower of amounts due and owing to Contractors under the Construction Contracts or to any other materialmen, subcontractors or other Persons performing work on such Project of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate and (ii) from the Turbine Purchase Sub-Account for the corresponding Turbine to the Operating Account for payment by Borrower of amounts due and owing to the Turbine Purchase Contractor

Disbursements from Construction Account. Amounts Not later than one day following the Remarketing Date, there shall be transferred from the Construction Account to the Construction and Operating Costs Contingency Fund the sum of up to $2,199,466.99, representing reimbursement and recontribution to the Project of eligible project costs identified in the Equity Costs Certificate. Disbursements from the Construction Account of the Project Fund shall be applied for the payment or reimbursement of the following costs: (i) Costs incurred directly or indirectly for or in connection with the acquisition, construction, equipping or furnishing of the Project, including preliminary planning and studies, architectural, legal, engineering and supervisory services, other labor and services, materials, acquisition and installation. (ii) Any other incidental and necessary costs and expenses relating to the acquisition, construction, equipping or furnishing of the Project, including without limitation interest on the Bonds, if any, accruing after the Estimated Completion Date and prior to the Completion Date and not paid from the Capitalized Interest Account, but not including "issuance costs" within the meaning of Section 147(g) (1) of the Code. Such disbursements from the Construction Account shall be made only as provided in and subject to the terms of the Disbursement Agreement. Except as provided in the first sentence of this subsection (c), no funds shall be disbursed from the Construction Account to pay or reimburse any costs listed in the Equity Costs Certificate. In addition, in the event that the Completion Date shall not have occurred on or before the Estimated Completion Date, then on each Construction Sub-Account from time to time as provided in this date thereafter occurring on or before the Completion Date on which a Loan payment is due and payable under Section 7. 1. Borrower 1001A or 1001B, the Trustee without need for requisition shall have the right to cause Administrative Agent (a) to disburse amounts transfer from the Construction Sub-Account for the corresponding Project to the accounts Bond Fund such amount, if any, as shall be necessary to meet the Loan payment required to be made on such date. Payment of each any Loan payment in full on any such date under this Section 501A shall satisfy the obligation of the Contractors performing work on Borrower to make such Project for amounts due and owing to such Contractors payment under the Construction Contracts, or to any other materialmen, subcontractors, Administrative Agent or any other Person performing work on such Project in payment of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate, (b) to transfer up to $250,000 in any month from the Construction Sub-Account with respect to a Project to the Operating Account with respect to such Project to pay specified amounts of less than $50,000, individually, (c) to maintain up to $100,000 in any Operating Account by transferring amounts from the corresponding Construction Sub-Account to pay unspecified amounts (the expenditure of which shall be identified, and substantiated to the reasonable satisfaction of Administrative Agent in the immediately subsequent Construction Drawdown Certificate), (d) to disburse amounts from the Turbine Purchase Sub-Account for the corresponding Turbine to the account of the Turbine Purchase Contractor performing work with respect to such Turbine in payment for amounts due and owing to such Turbine Purchase Contractor under the Turbine Purchase Contract in accordance with a duly completed Turbine Purchase Drawdown Certificate, and (e) to transfer amounts (i) from the Construction Sub-Account for the corresponding Project to the Operating Account with respect to such Project for payment by Borrower of amounts due and owing to Contractors under the Construction Contracts or to any other materialmen, subcontractors or other Persons performing work on such Project of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate and (ii) from the Turbine Purchase Sub-Account for the corresponding Turbine to the Operating Account for payment by Borrower of amounts due and owing to the Turbine Purchase ContractorSection 1001B.

Disbursements from Construction Account. Amounts shall be disbursed from each Construction Sub-Account from time to time as provided subject to the satisfaction (or waiver) of the applicable provisions of Article 3 in respect of the applicable Project and this Section 7.Section 17.1. Borrower shall have the right to cause Administrative Agent (a) to disburse amounts from the Construction Sub-Account for of the corresponding Project to the accounts of each of the Contractors performing work on such Project for amounts due and owing to such Contractors under the Construction Contracts, or to any other materialmen, subcontractors, Administrative Agent or any other Person performing work on such Project in payment of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate, (b) to . Borrower agrees that Administrative Agent may transfer up to $250,000 any or all of a Loan and other sums in any month from the applicable Construction Sub-Account with respect to a Project to the Operating Account with respect to such Project to pay specified amounts of less than $50,000, individually, (c) to maintain up to $100,000 in any Operating Account by transferring amounts from the corresponding Construction Sub-Account to pay unspecified amounts (the expenditure of which shall be identified, and substantiated to the reasonable satisfaction of Administrative Agent in the immediately subsequent Construction Drawdown Certificate), (d) to disburse amounts from the Turbine Purchase Sub-Account for the corresponding Turbine to directly into the account of the Turbine Purchase any Contractor performing work with respect to such Turbine in payment for amounts due and owing to such Turbine Purchase Contractor under the Turbine Purchase Contract in accordance with a duly completed Turbine Purchase Drawdown Certificaterelevant Construction Contract, and (e) to transfer amounts (i) from the Construction Sub-Account for the corresponding Project to the Operating Account with respect to such Project for payment by Borrower of amounts due and owing to Contractors under the Construction Contracts or to any other materialmen, materialmen or subcontractors or other Persons performing work on such Project in payment of amounts due and owing to such parties in respect of such the applicable Project without further authorization from Borrower; provided, however, that if Borrower has notified Administrative Agent that it is contesting a claim for payment by a Contractor or a subcontractor or materialmen in accordance with a duly completed Construction Drawdown Certificate the requirements of this Agreement and (ii) from the Turbine Purchase Sub-Account for definition of "Permitted Liens," Administrative Agent will not, except as described in the corresponding Turbine proviso to the Operating Account for payment next sentence, be entitled to pay any amount being contested. Borrower hereby constitutes and appoints Administrative Agent its true and lawful attorney-in-fact to make such direct payments and this power of attorney shall be deemed to be a power coupled with an interest and shall be irrevocable; provided that, except upon the occurrence and continuation of an Event of Default or a Non-Fundamental Project Default with respect to the relevant Project, Administrative Agent shall not exercise its rights under this power of attorney except to make payments (a) as directed by Borrower or (b) which Administrative Agent reasonably believes, if not promptly made, are reasonably likely to have a Material Adverse Effect on the applicable Project. No further direction or authorization from Borrower shall be necessary to warrant or permit Administrative Agent to make such direct Loans in accordance with the foregoing sentence, and all such direct Loans shall satisfy pro tanto the obligations of amounts due Administrative Agent and owing the Banks hereunder, and shall be secured by the Collateral Documents as fully as if made directly to Borrower, regardless of the Turbine Purchase disposition thereof by any Contractor,

Disbursements from Construction Account. Amounts shall be disbursed from each Construction Sub-Account from time to time as provided in this Section 7. 1. Borrower shall have the right to cause Administrative Agent (a) to disburse amounts from the Construction Sub-Account for the corresponding Project to the accounts of each of the Contractors performing work on such Project for amounts due and owing to such Contractors under the Construction Contracts, or to any other materialmen, subcontractors, Administrative Agent or any other Person performing work on such Project in payment of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate, (b) to transfer up to $250,000 in any month from the Construction Sub-Account with respect to a Project to the Operating Account with respect to such Project to pay specified amounts of less than $50,000, individually, (c) to maintain up to $100,000 in any Operating Account by transferring amounts from the corresponding Construction Sub-Account to pay unspecified amounts (the expenditure of which shall be identified, and substantiated to the reasonable satisfaction of Administrative Agent in the immediately subsequent Construction Drawdown Certificate), (d) to disburse amounts from the Turbine Purchase Sub-Account for the corresponding Turbine to the account of the Turbine Purchase Contractor performing work with respect to such Turbine in payment for amounts due and owing to such Turbine Purchase Contractor under the Turbine Purchase Contract in accordance with a duly completed Turbine Purchase Drawdown Certificate, and (e) to transfer amounts (i) from the Construction Sub-Account for the corresponding Project to the Operating Account with respect to such Project for payment by Borrower of amounts due and owing to Contractors under the Construction Contracts or to any other materialmen, subcontractors or other Persons performing work on such Project of amounts due and owing to such parties in respect of such Project in accordance with a duly completed Construction Drawdown Certificate and (ii) from the Turbine Purchase Sub-Account for the corresponding Turbine to the Operating Account for payment by Borrower of amounts due and owing to the Turbine Purchase Contractor performing work with respect to such Turbine for amounts due and owing to such Turbine Purchase Contractor under the Turbine Purchase Contract in accordance with a duly completed Turbine Purchase Drawdown Certificate. Borrower agrees that, where Administrative Agent has not transferred such amounts to the relevant Operating Account pursuant to clause (e) above, Administrative Agent may transfer any or all of a Loan and other sums in the applicable Construction Sub-Account directly into the account of any Contractor or Turbine Purchase Contractor, as the case may be, for amounts due and owing to such Person under the relevant Construction Contract or Turbine Purchase Contract, as the case may be, or any other materialmen or subcontractors in payment of amounts due and owing to such parties in respect of the applicable Project or Turbine without further authorization from Borrower; provided, however, that if Borrower has notified Administrative Agent that it is contesting a claim for payment by any such Person or a subcontractor or materialmen in accordance with the requirements of this Agreement and the definition of "Permitted Liens," Administrative Agent will not, except as described in the proviso to the next sentence, be entitled to pay any amount being contested. Borrower hereby constitutes and appoints Administrative Agent its true and