Disposition of Bond Proceeds. The Issuer shall establish the Bond Fund and the Construction Fund with the Trustee in accordance with Article VI and VII of the Indenture. In accordance with the provisions of the Indenture the net proceeds of the Series 2022 Bonds shall be deposited into the Construction Fund. The moneys on deposit in the Construction Fund shall be applied by the Trustee as provided in Section 3.5 hereof and as otherwise provided in Article VII of the Indenture. Until the moneys on deposit in the Construction Fund are so applied, such moneys shall be and remain subject to the lien of the Indenture, and the Issuer and the Company shall have no right, title or interest therein except as expressly provided in this Loan Agreement and the Indenture.
Disposition of Bond Proceeds. The proceeds of the issuance and sale of the Series 1997 Bonds and any Additional Bonds, other than accrued interest, if any, paid by the initial purchaser or purchasers thereof, shall be deposited into the Clearing Fund, and any such accrued interest shall be deposited into the Bond Fund, all in accordance with the provisions of the Indenture.
Disposition of Bond Proceeds. In consideration of the loan by the Authority to the Company of the proceeds of the sale of the Series 2021B Bonds as provided in Section 5.1 hereof, the Company agrees that the proceeds of the Series 2021B Bonds shall be deposited in accordance with Section 6.1 of the Indenture in order to redeem, together with other available moneys of the Company, in order to redeem the outstanding Prior Bonds on the Refunding Date. The proceeds from the sale of any Additional Bonds shall be applied simultaneously with the delivery of such Additional Bonds in the manner provided in the Indenture and in the supplemental indenture authorizing such Additional Bonds.
Disposition of Bond Proceeds. In consideration of the loan by the Issuer to the Company of the proceeds of the sale of the Series 2021 Bonds as provided in Section 5.1 hereof, the Company agrees that the proceeds of the Series 2021 Bonds shall be deposited in accordance with Section 6.1 of the Indenture in order to redeem, together with other available moneys of the Company, $83,695,000 in aggregate principal amount of the outstanding Series 2019 Bonds on the Refunding Date. The proceeds from the sale of any Additional Bonds shall be applied simultaneously with the delivery of such Additional Bonds in the manner provided in the Indenture and in the supplemental indenture authorizing such Additional Bonds.
Disposition of Bond Proceeds. The Company hereby directs the Issuer to establish the Refunding Fund and the Bond Fund with the Trustee in accordance with Sections 6.01 and 6.04 of the Indenture. The proceeds of the issuance and sale of the Bonds shall be deposited with the Trustee, in accordance with the provisions of the Indenture.
Disposition of Bond Proceeds. The proceeds of the issuance and sale of the Bonds, other than accrued interest, if any, paid by the initial purchaser or purchasers thereof, shall be paid to the Trustee for the Prior Bonds to be deposited into the bond fund established under the Prior Indenture for the Prior Bonds; such deposit shall constitute a loan of such principal proceeds to the Company. Any accrued interest shall be deposited into the Bond Fund, in accordance with the provisions of the Indenture.
Disposition of Bond Proceeds. In consideration of the conveyance by the Company to the Issuer of the Company's right, title and interest in the Facilities as provided in Section 3 .9 hereof, the Issuer agrees that the proceeds of the Bonds shall be applied as in this Section 4.3
Disposition of Bond Proceeds. (a) The net proceeds from the issuance and sale of the Bonds shall be deposited into the Clearing Fund and the Construction Fund in accordance with the provisions of Section 7.2 of the Indenture.
(b) Moneys in the Clearing Fund shall be disbursed for payment of the fee and expenses of Xxxxxxx, Sachs & Co. in connection with the issuance of the Bonds.
(c) Moneys in the Construction Fund shall be disbursed from time to time for direct payment of Project Costs, for reimbursement of Project Costs paid by the Company or its affiliates, or for payment to the Company Credit Facility Construction Account, all in accordance with and pursuant to requisitions as provided in Section 7.2 of the Indenture. The Company hereby covenants and agrees that all payments from the Construction Fund to the Company Credit Facility Construction Account shall be promptly expended for the payment of Project Costs.
Disposition of Bond Proceeds. The Issuer covenants and agrees to deposit with the Trustee the proceeds of the sale of the Bonds, as each portion thereof shall from time to time be received by the Issuer from the Government, the Issuer's share of any liquidated damages or other moneys paid by defaulting contractors or their sureties, and all proceeds of insurance compensating for damages to the Project during the period of construction, which shall be held by the Trustee in trust and applied solely in the manner hereinafter provided. The Trustee agrees that all such moneys so deposited with the Trustee shall be deposited by the Trustee in the Construction Account, hereby created, and applied by the Trustee as hereinafter provided. The wire/ACH transfer instructions for the Trustee are attached hereto as Exhibit A and amounts shall be transferred to the Trustee in accordance with such instructions until such time as different instructions shall be provided by the Trustee in writing.
Disposition of Bond Proceeds. The City and the Company shall enter into escrow arrangements with the trustee for each series of Prior Bonds and shall cause a portion of the proceeds of the Bonds in amount equal to (i) the proceeds of the Bonds, other than accrued interest, if any, paid by the initial purchaser or purchasers thereof, multiplied by the ratio determined by multiplying outstanding principal amount of such series of Prior Bonds by the aggregate outstanding principal amount of the Prior Bonds, to be deposited in escrow with such trustee to be applied to the payment of such series of Prior Bonds upon the redemption thereof. The City shall establish the Bond Fund with the Trustee in accordance with Section 4.01 of the Ordinance. The accrued interest, if any, paid by the initial purchasers of the Bonds shall be deposited into the Bond Fund.
