Disposition of Original Proceeds; Project Fund. The Original Proceeds shall be paid over to the Trustee for the account of the Issuer. The Trustee shall pay from such Original Proceeds into the Principal and Interest Payment Account the full amount of any accrued interest received upon such sale. The remainder of such proceeds shall be deposited by the Trustee in the Project Fund to be used and applied as provided in this Lease and the Indenture, except that Costs of Issuance may be paid from the Project Fund without further order or authorization.
Disposition of Original Proceeds; Project Fund. Except as otherwise provided herein, the Original Proceeds shall be paid over to the Bank for the account of the Issuer as the Bonds are issued and applied as set forth in Section 5 of the Bond Agreement. Notwithstanding any statement set forth in this Project Lease or in the Bond Agreement to the contrary, in the event Tenant has completed the Project prior to the Issue Date with its own funds, then Tenant shall not be required to deposit the Original Proceeds with the Bank. In such an event, the Tenant shall certify to the Issuer and Bank that the Project has been completed and paid in full, whereupon the Issuer and Bank shall deliver the Bonds to the Tenant on the Issue Date.
Disposition of Original Proceeds; Project Fund. Except as otherwise provided below, the Original Proceeds shall be paid over to the Trustee for the account of the Issuer as the Bonds are issued and applied as set forth in Section 5.02 of the Indenture. Notwithstanding any statement set forth in this Project Lease or in the Indenture to the contrary, in the event Tenant has completed the Project prior to the Issue Date with its own funds, then Tenant shall not be required to deposit the Original Proceeds with the Trustee. In such an event, the Tenant shall certify to the Issuer and Trustee that the Project has been completed and paid in full, whereupon the Issuer and Trustee shall deliver the Bonds to the Tenant on the Issue Date.
Disposition of Original Proceeds; Project Fund. The Original Proceeds shall be paid over to the Trustee for the account of Issuer. The Trustee shall, first, promptly pay from such Original Proceeds into the Principal and Interest Payment Account the full amount of any accrued interest and premium, if any, received upon such sale. The remainder of such proceeds shall be deposited by the Trustee in the Project Fund to be used and applied as provided in this Lease and the Indenture, except that Costs of Issuance as specified by Tenant at or prior to the closing of the issuance of the Bonds may be paid from the Project Fund by Trustee without further order or authorization. Any funds held in any accounts of or by the Trustee may be invested, at the direction of the Authorized Tenant Representative, in one or more interest-bearing or non-interest bearing accounts at or with the Bondholder.
Disposition of Original Proceeds; Project Fund. The Original Proceeds of any series of Bonds shall be paid over to the Trustee for the account of Issuer. The Trustee shall, first, promptly pay from such Original Proceeds into the Principal and Interest Payment Account the full amount of any accrued interest and premium, if any, received upon such sale. The remainder of such proceeds shall be deposited by the Trustee in the Project Fund to be used and applied as provided in this Lease and the Indenture , except that Costs of Issuance may be paid from the Project Fund without further order or authorization.
Disposition of Original Proceeds; Project Fund. The Original Proceeds shall be paid over to the Trustee for the account of Issuer as directed by Section 509 of the Indenture and such Original Proceeds shall be used and applied as provided in this Lease and the Indenture.
