Common use of Due Application of Funding Proceeds Clause in Contracts

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Vehicle(s) purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Vehicle(s) in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Vehicle(s) purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Vehicle(s) Equipment in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Equipment and/or Vehicle(s) purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Vehicle(sEquipment and Eligible Vehicles, as the case may be, (s) in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Vehicle(s) purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Vehicle(s) in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Vehicle(s) Equipment purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Vehicle(s) Equipment in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.

Due Application of Funding Proceeds. Funding Recipient shall dedicate the proceeds of the Funding and any insurance proceeds arising out of any casualty affecting Vehicle(s) purchased with the Funding exclusively to reimburse itself for Eligible Costs incurred and paid by it for the purchase of Eligible Equipment and Vehicle(s) in accordance with the terms of this Agreement and shall not use any part of the same for any other purpose.