Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company will authorize and direct the Trustee, upon compliance with Section 3.3 of the Indenture, to disburse the moneys in the Project Fund only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof: (i) Payment to the Company of such amounts, if any, as shall be necessary to reimburse the Company in full for all advances and payments made by it, prior to or after the delivery of the Bonds, in connection with the acquisition, construction, installation and equipping of and other improvements to the Project. (ii) Payment to any vendors, suppliers or contractors to acquire, construct and install the Project, as provided in the plans, specifications and work orders therefor; and payment of the miscellaneous expenses incidental thereto. (iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, installation and equipping of and other improvements to the Project. (iv) Payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the Company. (v) Payment of any other Costs of the Project permitted by the Tax Agreement (but not including any Costs of Issuance). Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 of the Indenture, signed by the Authorized Representative of the Company. (b) The Company will authorize and direct the Trustee, upon compliance with Section 3.4 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 of the Indenture, signed by the Authorized Representative of the Company. (c) All disbursements from the Project Fund and the Costs of Issuance Fund must comply with the requirements of the Tax Agreement.
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Samples: Loan Agreement (Casella Waste Systems Inc), Loan Agreement (Casella Waste Systems Inc), Financing Agreement (Casella Waste Systems Inc)
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company will authorize and direct the Trustee, upon compliance with Section 3.3 of the Indenture, to disburse the moneys in the Project Fund only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company of such amounts, if any, as shall be necessary to reimburse the Company or an affiliate of the Company in full for all advances and payments made by it, prior to or after it as permitted by the delivery of the Bonds, in connection with the acquisition, construction, installation and equipping of and other improvements to the ProjectTax Agreement.
(ii) Payment to any vendors, suppliers or contractors to acquire, construct and install the Project, as provided in the plans, specifications and work orders therefor; and payment of the miscellaneous expenses incidental thereto.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and third party supervisors expended in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project.
(iv) Payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the Company.
(v) Payment of any other Costs of the Project permitted by the Tax Agreement (but not including any Costs of Issuance). Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 of the Indenture, signed by the an Authorized Representative of the Company.
(b) The Company will authorize and direct the TrusteeTrustee in writing, upon compliance with Section 3.4 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 of the Indenture, signed by the an Authorized Representative of the Company.
(c) All disbursements from the Project Fund and the Costs of Issuance Fund must comply with the requirements of the Tax Agreement. The Trustee shall not be obligated to determine whether said disbursements are in compliance with the Tax Agreement.
Appears in 1 contract
Samples: Loan Agreement (CONSOL Energy Inc.)
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company Borrower will authorize and direct the Trustee, upon compliance with Section 3.3 3.03 of the Indenture, to disburse the moneys in the Project Fund to or on behalf of the Borrower only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company Borrower of such amounts, if any, as shall be necessary to reimburse the Company Borrower in full for all advances and payments made by it, at any time prior to or after the delivery of the Bonds, in connection with (A) the preparation of plans and specifications for the Project (including any preliminary study or planning of the Project or any aspect thereof) and (B) subject to any limitation imposed by subsection (vi) hereof, the acquisition, construction, renovation, improvement, installation and equipping of and other improvements to the Project.
(ii) Payment If the Project includes the construction or rehabilitation of a building, payment for labor, services, materials and supplies used by or furnished to any vendors, suppliers or contractors the Borrower to improve the site and to acquire, construct construct, renovate, improve, install and install equip the Project, as provided in the plans, specifications and work orders therefor; payment of the costs of acquiring, equipping, constructing, and installing utility services or other related facilities; payment of the costs of acquiring all real and personal property deemed necessary to construct the Project; insurance during the construction period; and payment of the miscellaneous expenses incidental theretoto any of the foregoing items.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, renovation, improvement, installation and equipping of and other improvements to the Project.
(iv) Payment If the Project includes the construction of a building, payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the CompanyBorrower.
(v) Payment of expenses incurred in seeking to enforce any remedy against any contractor or subcontractor in respect of any default under a contract relating to the acquisition, construction, renovation, improvement, installation or equipping of the Project.
(vi) Payment of any other Costs of the Project permitted by the Tax Agreement Certificate and the Act (including, without limitation, interest accruing on the Bonds during the construction period of the Project and reimbursement to the Borrower of costs of financing the Costs of the Project, but not including any Costs of Issuance). All moneys remaining in the Project Fund after the Completion Date and after payment or provision for payment of all other items provided for in the preceding subsections (i) to (vi), inclusive, of this Section, shall be used in accordance with Section 3.03 of the Indenture. Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 3.03 of the Indenture, signed by the an Authorized Representative of the CompanyBorrower.
(b) The Company Borrower will authorize and direct the Trustee, upon compliance with Section 3.4 3.04 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company Borrower only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 3.04 of the Indenture, signed by the an Authorized Representative of the CompanyBorrower.
(c) All disbursements The Borrower acknowledges that it shall not submit any requisitions to the Trustee for the payment of Costs of the Project from the Project Fund and or any account therein, or for the payment of Costs of Issuance from the Costs of Issuance Fund or any account therein, unless it attaches to such requisition invoices evidencing each item requested for payment therein. In any instance where the requisition is for payment to the Borrower for reimbursement of costs previously paid, the Borrower shall attach the original invoices and other documentation to describe the original expenditures which were paid. If the Project consists of elements, which are only partially financed by the Bonds, the invoice/description must comply with specifically identify the requirements costs eligible for the tax-exempt financings to be paid from the Bonds.
(d) Prior to the Completion Date, the Borrower may deliver a Request to the Authority to consent to the removal of a component of the Tax AgreementProject that is no longer necessary for inclusion within the Project and the reasons therefore. If the Authority does not act within 30 days after such Request is received, such consent shall be deemed to be given. Upon such consent, the Borrower shall provide a written instruction to the Trustee to transfer a proportionate amount of moneys in the Project Fund associated with such removed component to the Surplus Account to be applied as provided in Section 3.03 of the Indenture.
Appears in 1 contract
Samples: Loan Agreement (SJW Group)
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company Borrower will authorize and direct the Trustee, upon compliance with Section 3.3 3.03 of the Indenture, to disburse the moneys in the Project Fund to or on behalf of the Borrower only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company Borrower of such amounts, if any, as shall be necessary to reimburse the Company Borrower in full for all advances and payments made by it, at any time prior to or after the delivery of the Bonds, in connection with (A) the preparation of plans and specifications for the Project (including any preliminary study or planning of the Project or any aspect thereof) and (B) subject to any limitation imposed by subsection (vi) hereof, the acquisition, construction, renovation, improvement, installation and equipping of and other improvements to the Project.
(ii) Payment If the Project includes the construction or rehabilitation of a building, payment for labor, services, materials and supplies used by or furnished to any vendors, suppliers or contractors the Borrower to improve the site and to acquire, construct construct, renovate, improve, install and install equip the Project, as provided in the plans, specifications and work orders therefor; payment of the costs of acquiring, equipping, constructing, and installing utility services or other related facilities; payment of the costs of acquiring all real and personal property deemed necessary to construct the Project; insurance during the construction period; and payment of the miscellaneous expenses incidental theretoto any of the foregoing items.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, renovation, improvement, installation and equipping of and other improvements to the Project.
(iv) Payment If the Project includes the construction of a building, payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the CompanyBorrower.
(v) Payment of expenses incurred in seeking to enforce any remedy against any contractor or subcontractor in respect of any default under a contract relating to the acquisition, construction, renovation, improvement, installation or equipping of the Project.
(vi) Payment of any other Costs of the Project permitted by the Tax Agreement Certificate and the Act (including, without limitation, interest accruing on the Bonds during the construction period of the Project and reimbursement to the Borrower of costs of financing the Costs of the Project, but not including any Costs of Issuance). All moneys remaining in the Project Fund after the Completion Date and after payment or provision for payment of all other items provided for in the preceding subsections (i) to (vi), inclusive, of this Section, shall be used in accordance with Section 3.03 of the Indenture. Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 3.03 of the Indenture, signed by the an Authorized Representative of the CompanyBorrower.
(b) The Company Borrower will authorize and direct the Trustee, upon compliance with Section 3.4 3.04 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company Borrower only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 3.04 of the Indenture, signed by the an Authorized Representative of the CompanyBorrower.
(c) All disbursements The Borrower acknowledges that it shall not submit any requisitions to the Trustee for the payment of Costs of the Project from the Project Fund and or any account therein, or for the payment of Costs of Issuance from the Costs of Issuance Fund or any account therein, unless it attaches to such requisition invoices evidencing each item requested for payment therein. In any instance where the requisition is for payment to the Borrower for reimbursement of costs previously paid, the Borrower shall attach the original invoices and other documentation to describe the original expenditures which were paid. If the Project consists of elements, which are only partially financed by the Bonds, the invoice/description must comply with specifically identify the requirements costs eligible for the tax-exempt financings to be paid from the Bonds.
(d) Prior to the Completion Date, the Borrower may deliver a Request to the Authority to consent to the removal of a component of the Tax AgreementProject that is no longer necessary for inclusion within the Project and the reasons therefore. If the Authority does not act within 30 days after such Request is received, such consent shall be deemed to be given, after which the Borrower shall instruct the Trustee to apply a proportionate amount of moneys in the Project Fund as provided in Section 3.03 of the Indenture.
Appears in 1 contract
Samples: Loan Agreement (SJW Corp)
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company will authorize and direct the Trustee, upon compliance with Section 3.3 3.4 of the Indenture, to disburse the moneys in the Project Fund only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company of such amounts, if any, as shall be necessary to reimburse the Company in full for all advances and payments made by it, it no more than 18 months prior to or after the delivery of the Bonds, in connection with the acquisition, construction, installation and equipping of and other improvements to the ProjectIssuance Date.
(ii) Payment to any vendors, suppliers or contractors to acquire, construct and install the Project, as provided in the plans, specifications and work orders therefor; and payment of the miscellaneous expenses incidental thereto.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project.
(iv) Payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the Company.
(v) Payment of any other Costs of the Project permitted by the Tax Agreement Certificate (but not including any Costs of Issuance). Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 3.4 of the Indenture, signed by the an Authorized Representative of the Company.
(b) The Company will authorize and direct the TrusteeTrustee in writing, upon compliance with Section 3.4 3.5 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 3.5 of the Indenture, signed by the an Authorized Representative of the Company.
(c) All disbursements from the Project Fund and the Costs of Issuance Fund must comply with the requirements of the Tax AgreementCertificate. The Trustee shall not be obligated to determine whether said disbursements are in compliance with the Tax Certificate.
Appears in 1 contract
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company will authorize and direct the Trustee, upon compliance with Section 3.3 of the Indenture, to disburse the moneys in the Project Fund only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company of such amounts, if any, as shall be necessary to reimburse the Company in full for all advances and payments made by it, prior to or after the delivery of the Bonds, in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project.
(ii) Payment to any vendors, suppliers or contractors to acquire, construct and install the Project, as provided in the plans, specifications and work orders therefor; and payment of the miscellaneous expenses incidental thereto.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project.
(iv) Payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the Company.
(v) Payment of any other Costs of the Project permitted by the Tax Agreement (but not including any Costs of Issuance). Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 of the Indenture, signed by the Authorized Representative of the Company.
(b) The Company will authorize and direct the Trustee, upon compliance with Section 3.4 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 of the Indenture, signed by the Authorized Representative of the Company.
(c) All disbursements from the Project Fund and the Costs of Issuance Fund must comply with the requirements of the Tax Agreement.
Appears in 1 contract
Disbursements from the Project Fund; Disbursements from the Costs of Issuance Fund. (a) The Company Borrower will authorize and direct the Trustee, upon compliance with Section 3.3 of the Indenture, to disburse the moneys in the Project Fund only for the following purposes (and not for Costs of Issuance), subject to the provisions of Section 3.3 hereof:
(i) Payment to the Company Borrower of such amounts, if any, as shall be necessary to reimburse the Company Borrower in full for all advances and payments made by it, prior to :
(1) On or after the delivery of the BondsJuly 7, 2006, in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project;
(2) Prior to July 7, 2006 if such costs do not exceed $100,000; or
(3) Prior to July 7, 2006 if such costs constitute preliminary expenditures within the meaning of Section 1.150-2(f)(2) of the Treasury Regulations and such costs do not exceed 20% of the aggregate issue price of the Bonds.
(ii) Payment to any vendors, suppliers or contractors to acquire, construct and install the Project, as provided in the plans, specifications and work orders therefor; and payment of the miscellaneous expenses incidental thereto.
(iii) Payment of the fees, if any, of architects, engineers, legal counsel and supervisors expended in connection with the acquisition, construction, construction and installation and equipping of and other improvements to the Project.
(iv) Payment of taxes including property taxes, assessments and other charges, if any, that may become payable during the construction period with respect to the Project, or reimbursement thereof, if paid by the CompanyBorrower.
(v) Payment of any other Costs of the Project permitted by the Tax Agreement (but not including any Costs of Issuance). Each of the payments referred to in this Section 3.2(a) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.3 of the Indenture, signed by the an Authorized Representative of the CompanyBorrower.
(b) The Company Borrower will authorize and direct the TrusteeTrustee in writing, upon compliance with Section 3.4 of the Indenture, to disburse the moneys in the Costs of Issuance Fund to or on behalf of the Company Borrower only for Costs of Issuance. Each of the payments referred to in this Section 3.2(b) shall be made upon receipt by the Trustee of a written requisition in the form prescribed by Section 3.4 of the Indenture, signed by the Authorized Representative of the Company.
(c) All disbursements from the Project Fund and the Costs of Issuance Fund must comply with the requirements of the Tax Agreement.this
Appears in 1 contract
