Common use of Disbursements from Construction Fund Clause in Contracts

Disbursements from Construction Fund. The Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Cost of Construction or to reimburse Company for any amount of the Cost of Construction paid or incurred by it. Except for requisitions for costs of issuance of the 2007 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed by the Company Representative stating with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment has been made or is due, (iii) the amount paid or to be paid, (iv) that each obligation mentioned therein has been properly incurred, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% of the proceeds of the 2007 Series A Bonds expended at such time being used for the acquisition, construction or installation of Solid Waste Disposal Facilities.

Disbursements from Construction Fund. The Issuer has, (a) To the extent that moneys on deposit in the Construction Fund shall not otherwise have been applied in accordance with the provisions of Article V of the Indenture, authorized and directed Trustee such moneys shall be loaned to make payments the Company from the Construction Fund time to pay the Cost of Construction or time to reimburse the Company for any amount portions of the Cost of Construction paid by it or incurred by it. Except for requisitions for costs of issuance of the 2007 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures make payments to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed persons designated by the Company Representative stating in respect of portions of the Cost of Construction, upon receipt by the Trustee of requisitions executed by, or communications by telegram, telex or facsimile transmission from, an Authorized Company Representative, which requisitions or communications shall state with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment is due or has been made or is due(or, in the case of payments to the Bond Fund, instructions to make such payments thereto), (iii) the amount paid or to be paid, (iv) the account or accounts within the Construction Fund from which payment of such requisition, or any portion thereof, shall be made, (v) (A) that each obligation mentioned therein obligation, item of cost or expense with respect to which such requisition is being made has been properly incurredincurred and has been paid or is then due and payable as an item of the Cost of Construction, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) final payment therefrom or from the expenditures qualify exclusively as Solid Waste Disposal Facilities proceeds of any other obligations issued by the Authority or (bB) in the 95%-5% ratio as required above has event that a portion of the Bonds shall have been satisfied paid, redeemed or deemed to have been paid within the meaning of Article VIII of the Indenture by reason of the application of the proceeds of the sale of any obligations issued under an indenture other than the Indenture and if the payment of such requisition is to be made into the amount shown construction, acquisition or other similar fund created under such other indenture, that upon disbursement from such construction, acquisition or other similar fund, each obligation, item of cost or expense mentioned in the requisition for such disbursement will have been properly incurred and will have been paid or will then be due and payable as an item of the Cost of Construction, will be a proper charge against the construction, acquisition or other similar fund under such indenture, and will not have been the basis of any previous final payment therefrom or from the proceeds of any other revenue bonds issued by the Authority, (vi) that the payment of such requisition will not result in a breach of any of the covenants of the Company contained in subsection (c) or (d) of this Section 4.04 and (vii) that, to the best of the knowledge of such Authorized Company Representative, there shall not have occurred and be continuing any Event of Default described in Section 8.01 hereof. Any such communication by telegram, telex or facsimile transmission shall be promptly confirmed by a requisition executed by an Authorized Company Representative. The Company shall furnish to the Authority a copy of each requisition delivered to the Trustee promptly upon request therefor. (b) In paying any requisition under this Section 4.04, the Trustee shall be entitled to conclusively rely as to the completeness and accuracy of all statements in such requisition upon the approval of such requisition by an Authorized Company Representative, execution thereof to be conclusive evidence of such approval, and the Company shall indemnify and save harmless the Authority and the Trustee from any liability incurred in connection with any requisition so executed by an Authorized Company Representative. (c) The Company shall submit requisitions for Costs of Construction in compliance with the requirements therefor contained in the Tax Agreement, which on a cumulative aggregate basis, if paid, would result in less than 9597% of the sum of the total amount of the proceeds of the 2007 Series A Bonds expended at such time expended, for any purpose, being used to provide facilities for the acquisitionlocal furnishing of electric energy or other exempt facilities, construction including facilities functionally related or installation subordinate thereto, within the meaning of Solid Waste Disposal FacilitiesSection 142 of the Code; provided, however, that the moneys paid from the Investment Account within the Construction Fund shall be disregarded for purposes of the foregoing covenant and all computations made in accordance therewith if the Company shall have furnished to the Authority and the Trustee an opinion of Bond Counsel to the effect that such moneys may be so disregarded without impairing the exclusion from gross income for federal tax purposes of interest on the Bonds. (d) The Company shall not submit or cause to be submitted to the Trustee any requisition pursuant to this Section 4.04, and shall have no claim upon any moneys in the Construction Fund, so long as there shall have occurred and be continuing any Event of Default described in Section 8.01 hereof.

Disbursements from Construction Fund. The Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Cost of Construction or to reimburse Company for any amount of the Cost of Construction paid or incurred by it. Except for requisitions for costs of issuance of the 2007 2005 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 2005 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 2005 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed by the Company Representative stating with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment has been made or is due, (iii) the amount paid or to be paid, (iv) that each obligation mentioned therein has been properly incurred, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% of the proceeds of the 2007 2005 Series A Bonds expended at such time being used for the acquisition, construction or installation of Solid Waste Disposal Facilities.

Disbursements from Construction Fund. The Issuer has, (a) To the extent that moneys on deposit in the Construction Fund shall not otherwise have been applied in accordance with the provisions of Article V of the Indenture, authorized and directed Trustee such moneys shall be loaned to make payments the Company from the Construction Fund time to pay the Cost of Construction or time to reimburse the Company for any amount portions of the Cost of Construction paid by it or incurred by it. Except for requisitions for costs of issuance of the 2007 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures make payments to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed persons designated by the Company Representative stating in respect of portions of the Cost of Construction, upon receipt by the Trustee of requisitions executed by, or communications by telegram, telex or facsimile transmission from, an Authorized Company Representative, which requisitions or communications shall state with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment is due or has been made or is due(or, in the case of payments to the Bond Fund, instructions to make such payments thereto), (iii) the amount paid or to be paid, (iv) the account or accounts within the Construction Fund from which payment of such requisition, or any portion thereof, shall be made, (v) (A) that each obligation mentioned therein obligation, item of cost or expense with respect to which such requisition is being made has been properly incurredincurred and has been paid or is then due and payable as an item of the Cost of Construction, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) final payment therefrom or from the expenditures qualify exclusively as Solid Waste Disposal Facilities proceeds of any other obligations issued by the Pollution Control Corporation or (bB) in the 95%-5% ratio as required above has event that a portion of the Bonds shall have been satisfied paid, redeemed or deemed to have been paid within the meaning of Article VIII of the Indenture by reason of the application of the proceeds of the sale of any obligations issued under an indenture other than the Indenture and if the payment of such requisition is to be made into the amount shown construction, acquisition or other similar fund created under such other indenture, that upon disbursement from such construction, acquisition or other similar fund, each obligation, item of cost or expense mentioned in the requisition for such disbursement will have been properly incurred and will have been paid or will then be due and payable as an item of the Cost of Construction, will be a proper charge against the construction, acquisition or other similar fund under such indenture, and will not have been the basis of any previous final payment therefrom or from the proceeds of any other revenue bonds issued by the Pollution Control Corporation, (vi) that the payment of such requisition will not result in a breach of any of the covenants of the Company contained in subsection (c) or (d) of this Section 4.04 and (vii) that, to the best of the knowledge of such Authorized Company Representative, there shall not have occurred and be continuing any Event of Default described in Section 8.01 hereof. Any such communication by telegram, telex or facsimile transmission shall be promptly confirmed by a requisition executed by an Authorized Company Representative. The Company shall furnish to the Pollution Control Corporation a copy of each requisition delivered to the Trustee promptly upon request therefor. (b) In paying any requisition under this Section 4.04, the Trustee shall be entitled to conclusively rely as to the completeness and accuracy of all statements in such requisition upon the approval of such requisition by an Authorized Company Representative, execution thereof to be conclusive evidence of such approval, and the Company shall indemnify and save harmless the Pollution Control Corporation and the Trustee from any liability incurred in connection with any requisition so executed by an Authorized Company Representative. (c) The Company shall not submit requisitions for Costs of Construction which, on a cumulative aggregate basis, if paid, would result in less than 9597% of the sum of the total amount of the proceeds of the 2007 Series A Bonds expended at such time expended, for any purpose, being used to provide air or water pollution control or sewage or solid waste disposal facilities or other exempt facilities, including facilities functionally related or subordinate thereto, within the meaning of Section 141 of the Code or Section 103(b)(4) of the 1954 Code, as applicable; provided, however, that the moneys paid from the Investment Account within the Construction Fund shall be disregarded for purposes of the acquisitionforegoing covenant and all computations made in accordance therewith if the Company shall have furnished to the Pollution Control Corporation and the Trustee an opinion of Bond Counsel to the effect that such moneys may be so disregarded without impairing the exclusion from gross income for federal tax purposes of interest on the Bonds. (d) The Company shall not submit or cause to be submitted to the Trustee any requisition pursuant to this Section 4.04, construction or installation and shall have no claim upon any moneys in the Construction Fund, so long as there shall have occurred and be continuing any Event of Solid Waste Disposal FacilitiesDefault described in Section 8.01 hereof.

Disbursements from Construction Fund. The Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Cost of Construction or to reimburse Company for any amount of the Cost of Construction paid or incurred by it. Except for requisitions for costs of issuance of the 2007 2006 Series A C Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 2006 Series A C Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 2006 Series A C Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed by the Company Representative stating with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment has been made or is due, (iii) the amount paid or to be paid, (iv) that each obligation mentioned therein has been properly incurred, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% of the proceeds of the 2007 2006 Series A C Bonds expended at such time being used for the acquisition, construction or installation of Solid Waste Disposal Facilities.

Disbursements from Construction Fund. The Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Cost of Construction or to reimburse Company for any amount of the Cost of Construction paid or incurred by it. Except for requisitions for costs of issuance of the 2007 2005 Series A B Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 2005 Series A B Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 2005 Series A B Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed by the Company Representative stating with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment has been made or is due, (iii) the amount paid or to be paid, (iv) that each obligation mentioned therein has been properly incurred, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% of the proceeds of the 2007 2005 Series A B Bonds expended at such time being used for the acquisition, construction or installation of Solid Waste Disposal Facilities.

Disbursements from Construction Fund. The Issuer has, (a) To the extent that moneys on deposit in the Construction Fund shall not otherwise have been applied in accordance with the provisions of Article V of the Indenture, authorized and directed Trustee such moneys shall be loaned to make payments from the Construction Fund to pay the Cost of Construction or Company to reimburse the Company for any amount portions of the Cost of Construction paid by it or incurred by it. Except for requisitions for costs of issuance of the 2007 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures make payments to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed persons designated by the Company Representative stating in respect of portions of the Cost of Construction, upon receipt by the Trustee of requisitions executed by, or communications by telegram, e-mail in PDF format or facsimile transmission from, an Authorized Company Representative, which requisitions or communications shall state with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment is due or has been made or is due(or, in the case of payments to the Bond Fund, instructions to make such payments thereto), (iii) the amount paid or to be paid, (iv) (A) that each obligation mentioned therein obligation, item of cost or expense with respect to which such requisition is being made has been properly incurredincurred and has been paid or is then due and payable as an item of the Cost of Construction, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawalfinal payment therefrom or from the proceeds of any other obligations issued by the Authority or (B) in the event that a portion of the Bonds shall have been paid, redeemed or deemed to have been paid within the meaning of Article VIII of the Indenture by reason of the application of the proceeds of the sale of any obligations issued under an indenture other than the Indenture and if the payment of such requisition is to be made into the construction, acquisition or other similar fund created under such other indenture, that upon disbursement from such construction, acquisition or other similar fund, each obligation, item of cost or expense mentioned in the requisition for such disbursement substantially in the form attached as Exhibit D to the Indenture, will have been properly incurred and will have been paid or will then be due and payable as an item of the Cost of Construction, will be a proper charge against the construction, acquisition or other similar fund under such indenture, and will not have been the basis of any previous final payment therefrom or from the proceeds of any other revenue bonds issued by the Authority, (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% a breach of any of the proceeds covenants of the 2007 Series A Bonds expended at Company contained in subsection (c) or (d) of this Section 4.04 and (vi) that, to the best of the knowledge of such time being used Authorized Company Representative, there shall not have occurred and be continuing any Event of Default described in Section 8.01 hereof. Any such communication by telegram, e-mail or facsimile transmission shall be promptly confirmed by a requisition executed by an Authorized Company Representative. The Company shall furnish to the Authority a copy of each requisition delivered to the Trustee promptly upon request therefor. (b) In paying any requisition under this Section 4.04, the Trustee shall be entitled to conclusively rely as to the completeness and accuracy of all statements in such requisition upon the approval of such requisition by an Authorized Company Representative, execution thereof to be conclusive evidence of such approval, and the Company shall indemnify and save harmless the Authority and the Trustee from any liability incurred in connection with any requisition so executed by an Authorized Company Representative. (c) The Company shall submit requisitions for Costs of Construction in compliance with the acquisitionrequirements therefor contained in the Tax Agreement. (d) The Company shall not submit or cause to be submitted to the Trustee any requisition pursuant to this Section 4.04, construction or installation and shall have no claim upon any moneys in the Construction Fund, so long as there shall have occurred and be continuing any Event of Solid Waste Disposal FacilitiesDefault described in Section 8.01 hereof.

Disbursements from Construction Fund. The Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Cost of Construction or to reimburse Company for any amount of the Cost of Construction paid or incurred by it. Except for requisitions for costs of issuance of the 2007 2001 Series A Bonds (which costs shall not be considered to be qualifying), requisitions made in the form and manner described below shall be made initially exclusively for expenditures which qualify as solid waste disposal facilities and none, except for the requisitions for such costs of issuance, shall be made for expenditures which do not so qualify until such time as the ratio of qualifying expenditures to nonqualifying expenditures can be maintained at not less than 95% qualifying to 5% nonqualifying. Notwithstanding the foregoing exception for costs of issuance of the 2007 2001 Series A Bonds, amounts requisitioned for such purposes shall not exceed two percent (2%) of the proceeds of the 2007 2001 Series A Bonds and shall be considered part of the 5% nonqualifying portion. Payments for Cost of Construction shall be made upon receipt in the case of every disbursement of a requisition signed by the Company Representative stating with respect to each payment to be made: (i) the requisition number, (ii) the name and address of the person, firm or corporation to whom payment has been made or is due, (iii) the amount paid or to be paid, (iv) that each obligation mentioned therein has been properly incurred, is a proper charge against the Construction Fund, is unpaid or unreimbursed, and has not been the basis of any previous withdrawal, and (v) that either (a) the expenditures qualify exclusively as Solid Waste Disposal Facilities or (b) the 95%-5% ratio as required above has been satisfied and the payment of the amount shown in such requisition will not result in less than 95% of the proceeds of the 2007 2001 Series A Bonds expended at such time being used for the acquisition, construction or installation of Solid Waste Disposal Facilities. Company agrees to cause such requisitions to be directed to Trustee as may be necessary to effect payments out of the Construction Fund in accordance with this Section 4.2.