Establishment and Application of Proiect Fund Sample Clauses

Establishment and Application of Proiect Fund. (A) The Bond Trustee shall establish, maintain and hold in trust a separate fund designated as the "Proj ect Fund," The Project Fund shall consist of the amounts required or permitted to be deposited therein pursuant to any provision hereof, and the proceeds of the 2007 Bonds shall be deposited therein in the amount set out above. The moneys in the Proj ect Fund shall be used and withdrawn by the Bond Trustee to pay the costs of the design, acquisition, construction and equipping of the Project upon receipt of requisitions of the Issuer therefor. A portion of the moneys deposited in the Project Fund may be expended immediately to reimburse the Issuer for the cost of capital expenditures previously made.
Sample 1
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Related to Establishment and Application of Proiect Fund

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