Common use of Establishment of Completion Date Clause in Contracts

Establishment of Completion Date. The date upon which the money in the Construction Fund has been substantially exhausted, or the date upon which the Projects are substantially complete, shall be evidenced to the Authority and the Trustee by a certificate signed by an Authorized Borrower Representative. Subject to Section 3.7, the certificate shall set forth the total Costs of the Projects and state that, except for amounts not then due and payable, or the liability for the payment of which is being contested or disputed in good faith by the Borrower, (a) the acquisition, construction and equipping of the components of the Projects have been completed and the Costs of the Projects have been paid, and (b) all other facilities necessary in connection with the Projects have been acquired, constructed and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against third parties that exist at the date of such certificate or which may subsequently come into being. Moneys (including investment proceeds) remaining in the Construction Fund on the date of the certificate described in the immediately preceding paragraph may be used, at the direction of an Authorized Borrower Representative, to the extent indicated, for the payment, in accordance with the provisions of this Agreement, of any Costs of the Projects not then paid as specified in the above-mentioned certificate. Any moneys (including investment proceeds) remaining in the Construction Fund on the date of the aforesaid certificate and not so set aside for the payment of such Costs of the Projects shall be transferred into the Bond Fund as provided in the Indenture.

Establishment of Completion Date. The date upon which the money in the Construction Fund has been substantially exhausted, or the date upon which the Projects are substantially complete, shall be evidenced to the Authority and the Trustee by a certificate signed by an Authorized Borrower Representative. Subject to Section 3.7, the certificate shall set forth the total Costs Cost of the Projects and state that, except for amounts not then due and payable, or the liability for the payment of which is being contested or disputed in good faith by the Borrower, (a) the acquisition, construction and equipping of the components of the Projects have been completed and the Costs Cost of the Projects have been paid, and (b) all other facilities necessary in connection with the Projects have been acquired, constructed and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against third parties that exist at the date of such certificate or which may subsequently come into being. Moneys (including investment proceeds) remaining in the Construction Fund on the date of the such certificate described in the immediately preceding paragraph may be used, at the direction of an Authorized Borrower Representative, to the extent indicated, for the payment, in accordance with the provisions of this Agreement, of any Costs Cost of the Projects not then paid as specified in the above-mentioned certificate. Any moneys (including investment proceeds) remaining in the Construction Fund on the date of the aforesaid certificate and not so set aside for the payment of such Costs Cost of the Projects shall be transferred into the Bond Fund as provided or disbursed in accordance with Section 1.142-2 of the IndentureRegulations or any successor thereto. The Borrower acknowledges that these provisions generally require that a portion of the Bonds be redeemed, or defeased to the first call date (with appropriate notice to the Internal Revenue Service), within 90 days of the earlier of (i) the date on which the Borrower determines that the Projects will not be completed or (ii) the date on which the last of the Projects is placed in service.

Establishment of Completion Date. The completion date upon which the money in the Construction Fund has been substantially exhausted, or the date upon which the Projects are substantially complete, shall be evidenced to the Authority and the Trustee by a certificate Certificate of Completion signed by an Authorized Borrower Representative. Subject to Section 3.7, a Company Representative and accepted by the certificate shall set forth the total Costs of the Projects and state Trustee stating that, except for amounts retained by the Trustee at the direction of the Company for any Qualifying Costs not then due and payable, payable or the liability for the payment of which is being contested or disputed in good faith by the Borrower, Company: (a) the acquisition, construction and equipping of the components of Project has been completed in accordance with the Projects Plans, and all labor, services, materials and supplies used in such construction have been completed and the Costs of the Projects have been paid, and paid for; and (b) all other facilities necessary in connection with the Projects Project have been acquiredconstructed, constructed acquired and installed in accordance with the Plans and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall the Certificate of Completion may state that it is given without prejudice to any rights against third parties that which exist at the date of such certificate or which may subsequently come into being. The Company agrees to cooperate in causing such Certificate of Completion to be furnished to the Trustee as promptly as practicable after the occurrence of the events and conditions referred to in clauses (a) and (b) of the first sentence of this Section 3.6. Moneys (including investment proceeds) remaining in the Construction Project Fund on the date of completion date, except for any moneys which the certificate described Company directs the Trustee in the immediately preceding paragraph may be used, at the direction of an Authorized Borrower Representative, writing to the extent indicated, for the payment, in accordance with the provisions of this Agreement, of any Costs of the Projects not then paid as specified in the above-mentioned certificate. Any moneys (including investment proceeds) remaining in the Construction Fund on the date of the aforesaid certificate and not so set aside retain therein for the payment of such any Qualifying Costs of not then due and payable or the Projects liability for which is being contested in good faith by the Company shall be transferred into to the Bond Fund as provided in and used to redeem the Indenturea portion of the Series 2010B Bonds.

Establishment of Completion Date. The completion date upon which of the money in the Construction Fund has been substantially exhausted, or the date upon which the Projects are substantially complete, Project shall be evidenced to the Authority Trustee and the Trustee Bank by a certificate Certificate of Completion (substantially in the form of Exhibit C attached hereto) signed by an Authorized Borrower Representative. Subject to Section 3.7, a Company Representative and accepted by the certificate shall set forth the total Costs of the Projects and state Trustee stating that, except for amounts retained by the Trustee at the direction of the Company for any Qualifying Costs not then due and payable, payable or the liability for the payment of which is being contested or disputed in good faith by the BorrowerCompany, (a) the acquisition, construction and equipping of the components of the Projects have Project has been completed and the Costs of the Projects have been paidcompleted, and (b) all other facilities necessary in connection with the Projects have been acquiredlabor, constructed services, material and installed and all costs and expenses incurred supplies used in connection therewith have been paidpaid for. Notwithstanding the foregoing, such certificate shall the Certificate of Completion may state that it is given without prejudice to any rights against third parties that which exist at the date of such certificate or which may subsequently come into being. The Company agrees to cooperate in causing such Certificate of Completion to be furnished to the Trustee as promptly as practicable after the occurrence of the events and conditions referred to in clauses (a) and (b) of the first sentence of this Section 3.7. Moneys (including investment proceeds) remaining in the Construction Project Fund on the date of completion date, except for any moneys which the certificate described Company directs the Trustee in the immediately preceding paragraph may be used, at the direction of an Authorized Borrower Representative, writing to the extent indicated, for the payment, in accordance with the provisions of this Agreement, of any Costs of the Projects not then paid as specified in the above-mentioned certificate. Any moneys (including investment proceeds) remaining in the Construction Fund on the date of the aforesaid certificate and not so set aside retain therein for the payment of such any Qualifying Costs of not then due and payable or the Projects liability for which is being contested in good faith by the Company shall be transferred into to the Bond Fund as provided in the Indenturefund.