Common use of Disposition of Original Proceeds; Project Fund Clause in Contracts

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 hereinbelow, 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 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 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 herein, the 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 any 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.