Establishment of Construction Fund Sample Clauses

Establishment of Construction Fund. The Hillsborough County Aviation Authority Construction Fund (the “Construction Fund”), is hereby created and established, and the Authority shall establish separate accounts therein pursuant to each Supplemental Trust Agreement pertaining to Additional Bonds issued pursuant to Section 2.09 and Section 2.10(a) hereof, to the credit of which proceeds of such Additional Bonds shall be deposited. Each such account in the Construction Fund shall be held by the Authority pursuant to the Supplemental Trust Agreement. There may also be deposited into the applicable account or accounts in the Construction Fund any moneys received from any other source for the construction or acquisition of each respective Airport System Project. Each account in the Construction Fund shall be held separate and apart from each other account therein and shall be used and applied in accordance with the terms of this Trust Agreement and the Supplemental Trust Agreement pursuant to which it was created. The moneys in each account in the Construction Fund shall be held by the Authority in trust and shall be applied to the payment of the cost of the Airport System Projects for which such accounts were created, and pending such application, shall be subject to a lien and charge in favor of the holders of the Bonds issued to finance such Airport System Projects and for the further security of such holders until paid out or transferred as herein provided.
Sample 1
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Establishment of Construction Fund. 23 SECTION 5.02. Held in Trust.........................................................................23 SECTION 5.03. Use of Moneys.........................................................................23 SECTION 5.04. Retention of Requisitions.............................................................23 SECTION 5.05. Completion of Project.................................................................23 SECTION 5.06. Disposition of Surplus Funds..........................................................23 ARTICLE VI BOND FUND SECTION 6.01. Establishment of Bond Fund............................................................24 SECTION 6.02. Flow of Funds.........................................................................24 ARTICLE VII SECURITY FOR AND INVESTMENT OF MONEYS SECTION 7.01. Security..............................................................................25 SECTION 7.02. Investment of Funds...................................................................25 SECTION 7.03. Transfer of Balance...................................................................25 SECTION 7.04 Acknowledgement of Security Interest; Control.........................................25 SECTION 7.05 Control of Securities Accounts........................................................25 SECTION 7.06 Control of Deposit Accounts...........................................................25 SECTION 7.07 Trustee's UCC Jurisdiction............................................................25 ARTICLE VIII REDEMPTION OF BONDS
Sample 1
Establishment of Construction Fund. There is hereby created and established with the Trustee a fund designated as the "Mississippi Business Finance Corporation--Premier Entertainment Biloxi LLC Construction Fund". The Construction Fund shall consist of the Trustee Disbursement Account and the Company Direct Disbursement Account. Pursuant to the provisions of Section 2.02(a) hereof, proceeds of the sale of the Series 2004 Bonds shall be caused to be paid from time to time to the Trustee and deposited into the appropriate account of the Construction Fund. If, with regard to the sale of any Additional Bonds, there is any interest accrued on such Series of Bonds to the date of their delivery to the initial purchasers thereof, such amounts shall be deposited by the Trustee in the Bond Fund hereinafter created and established. The Trustee shall have authority to disburse amounts on deposit in the Trustee Disbursement Account of the Construction Fund and the Company shall have authority to disburse amounts on deposit in the Company Direct Disbursement Account in accordance with the provisions of Section 5.03 hereof. Payments of amounts to be disbursed by the Trustee may be made by check or wire sent by the Trustee as directed in the applicable requisition submitted by the Authorized Company Representative. Amounts to be disbursed by the Company from the Company Direct Disbursement Account shall be made by check, signed by an Authorized Company Representative.
Sample 1
Establishment of Construction Fund. There is hereby created and established with the Trustee a Construction Fund for the payment of Costs of the Project. The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Authority may deposit therein including contributions by Company. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held for the security of all the Bonds Outstanding hereunder and invested as provided in Article VII. Separate accounts within the Construction Fund shall be maintained by the Trustee upon request of the Authority whenever, in the opinion of the Authority, it is appropriate to have a separate accounting in respect of the Costs of any designated portion of the Project. The Authority may permit the Company, from time to time, to deposit moneys in the Construction Fund for the purpose of paying the Costs of the Project. The investment earnings on moneys deposited in the Construction Fund shall be added to the Construction Fund and may be expended at any time or from time to time to pay Costs of the Project in the same manner as the proceeds of the Bonds are expended.
Sample 1
Establishment of Construction Fund. The Trustee shall establish a Construction Fund for the payment of the Costs of the Project. The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Issuer may deposit therein. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held as security for all Bonds Outstanding hereunder. The Trustee shall maintain a record of the income on investments and interest earned on amounts held in the Construction Fund and on proceeds of Bonds held in respect of accrued or capitalized interest held by the Trustee as Revenues. Subject to the provisions of Section 6.05, such income or interest may be expended at any time or from time to time to pay Costs of the Project in the same manner as the proceeds of Bonds deposited in the Construction Fund are expended.
Sample 1
Establishment of Construction Fund. 31 5.02 Payments from Construction Fund ........................ 31 5.03 Payment to Relate to Underlying Obligations ............ 32 5.04 Procedure Upon Completion of Project ................... 32 5.05 Use of Money in Construction Fund Upon Default ......... 32
Sample 1
Establishment of Construction Fund. The Trustee shall establish and maintain and hold in trust a fund for the payment of costs which shall be entitled the "Portland General Electric Company Series 1990A Construction Fund" (the "Construction Fund"). The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Company or the Issuer may deposit therein. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held for the security of all Bonds Outstanding hereunder. The Trustee shall maintain a record of the income on investments and interest earned on deposit of amounts held in the Construction Fund. Such income or interest may be expended at any time or from time to time to pay Costs in the same manner as the proceeds of Bonds deposited in the Construction Fund are expended, and for no other purpose. Upon written direction from an Authorized Company Representative, the Trustee shall withdraw from the Construction Fund moneys for the payment of interest on the Series 1990A Bonds during acquisition and construction of the Project, and shall deposit such moneys in the Bond Fund for the payment of such interest.
Sample 1
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Establishment of Construction Fund. There is hereby created and established with the Trustee a trust fund in the name of the Issuer to be designated the “Education Services Facility Lease Revenue Bonds (SWWC Service Cooperative), Series 2024 Construction Fund” (the “Construction Fund”). On the Date of Original Issuance of the Bonds there shall be deposited with the Trustee to the credit of the Construction Fund those proceeds of the Series 2024A Bonds described in Section 4.01(c). As provided in Section 4.05, Construction Period income and profit from the investment of moneys in the Construction Fund shall be credited to the Construction Fund. The moneys in the Construction Fund shall be held in trust by the Trustee and applied to the payment of the Project Costs in accordance with and subject to the provisions of this article and the applicable provisions of the Loan Agreement, and pending such application shall be subject to a lien and charge in favor of the Holders of the Bonds issued and Outstanding under this Indenture and shall be held for the further security of such Holders until paid out as herein provided. In the event the moneys in the Bond Fund shall be insufficient on any Interest Payment Date to pay principal of, premium (if any) or interest on the Bonds due on such date, the Trustee shall use any moneys then on deposit to the credit of the Construction Fund, to the extent needed, to pay such principal, premium and interest. Any sums in the Construction Fund in excess of any amount required to pay Project Costs shall be transferred to the Bond Fund at the time or times and in the manner provided in Section 3.6 of the Loan Agreement. Any interest earned on sums held in the Construction Fund prior to the Completion Date shall remain a part of the Construction Fund.
Sample 1

Related to Establishment of Construction Fund

  • Commencement of Construction Construction of the Project will start within thirty (30) days after notification to the Developer by the Owner, or as soon thereafter as weather and ground conditions permit.

  • Completion of Construction Within 60 days of the completion of construction of the Project, Project Owner shall deliver to DoD copies of the FAA form 7460-2 for each ASN, including the final coordinates for each turbine erected.

  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • Manner of Construction Landlord may impose, as a condition of its consent to any and all Alterations or repairs of the Premises or about the Premises, such requirements as Landlord in its reasonable discretion may deem desirable, including, but not limited to, the requirement that upon Landlord’s request, Tenant shall, at Tenant’s expense, remove such Alterations upon the expiration or any early termination of the Lease Term, provided, however, Landlord may only require such removal if such Alterations are Specialty Improvements. For the avoidance of doubt, Tenant shall only be responsible for removing Specialty Improvements (hereafter defined), if at the time of its consent to such Specialty Improvements, Landlord advises in writing in its consent that Tenant is obligated to remove such Specialty Improvements at the expiration of the Term. “Specialty Improvements” means, collectively, any alterations, additions or improvements to the Premises which are not typical alterations, additions or improvements found in Comparable Buildings (and typical general laboratory improvements will not be deemed to be Specialty Improvements). Tenant shall construct such Alterations and perform such repairs in a good and workmanlike manner, in conformance with any and all applicable federal, state, county or municipal laws, rules and regulations and pursuant to a valid building permit, issued by the city in which the Building is located (or other applicable governmental authority). Tenant shall not use (and upon notice from Landlord shall cease using) contractors, services, workmen, labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with the workforce or trades engaged in performing other work, labor or services in or about the Building or the Common Areas. Upon completion of any Alterations (other than Exempt Alterations), Tenant shall deliver to Landlord final lien waivers from all contractors, subcontractors and materialmen who performed such work. In addition to Tenant’s obligations under Article 9 of this Lease, upon completion of any Alterations (other than Exempt Alterations), Tenant agrees to cause a Notice of Completion to be recorded in the office of the Recorder of the County of San Mateo in accordance with Section 3093 of the Civil Code of the State of California or any successor statute, and Tenant shall deliver to the Project construction manager a reproducible copy of the “as built” drawings of the Alterations (other than Exempt Alterations) as well as all permits, approvals and other documents issued by any governmental agency in connection with the Alterations.

  • Definitions Rules of Construction In addition to terms otherwise defined herein, the following terms are used herein as defined below:

  • Certain Matters of Construction The terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. In the computation of periods of time from a specified date to a later specified date, “from” means “from and including,” and “to” and “until” each mean “to but excluding.” The terms “including” and “include” shall mean “including, without limitation” and, for purposes of each Loan Document, the parties agree that the rule of ejusdem generis shall not be applicable to limit any provision. Section titles appear as a matter of convenience only and shall not affect the interpretation of any Loan Document. All references to (a) laws or statutes include all related rules, regulations, interpretations, amendments and successor provisions; (b) any document, instrument or agreement include any amendments, waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c) any section mean, unless the context otherwise requires, a section of this Agreement; (d) any exhibits or schedules mean, unless the context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e) any Person include successors and assigns; (f) time of day mean time of day at Lenders’ notice addresses under Section 13.3.1; or (g) discretion of any Lender mean the sole and absolute discretion of such Person. All calculations of fundings of the Loans, and payments of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations made from time to time under the Loan Documents shall be made in light of the circumstances existing at such time. Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by any Lender under any Loan Documents. No provision of any Loan Documents shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision.

  • Cost of Construction 1. During the Schematic Design, Design Development, and Construction Document Phases, the ARCHITECT’s estimates of Construction Cost shall be reconciled against the Budget approved by the DISTRICT pursuant to Article IV, Section 2. 2. The PROJECT’s “Construction Cost,” as used in this AGREEMENT, means the total cost to the DISTRICT of all work designed or specified by the ARCHITECT, which includes the total award from the initial construction Contract(s) plus the work covered by approved change orders and/or any alternates approved by the DISTRICT. The Construction Cost shall not include any costs that are not specifically referenced in this Article V, Section 2, as approved costs. Costs excluded from the Construction Cost include, but are not limited to, payments to the ARCHITECT or other DISTRICT consultants, costs of inspections, surveys, tests, and landscaping not included in PROJECT. 3. When labor or material is furnished by the DISTRICT below its market cost, the Construction Cost shall be based upon current market cost of labor and new material. 4. The Construction Cost shall be the acceptable estimate of Construction Costs to the DISTRICT as submitted by the ARCHITECT until such time as bids have been received, whereupon it shall be the bid amount of the lowest responsible responsive bidder. 5. Any Budget or fixed limit of Construction Cost shall be adjusted if the bidding has not commenced within ninety (90) days after the ARCHITECT submits the Construction Documents to the DISTRICT to reflect changes in the general level of prices in the construction industry between the date of submission of the Construction Documents to the DISTRICT and the date on which bids are sought for the PROJECT. 6. If the lowest bid received exceeds the Budget: a. The DISTRICT may give written approval of an increase of such fixed limit and proceed with the construction of the PROJECT; b. The DISTRICT may authorize rebidding of the PROJECT within a reasonable time; c. If the PROJECT is abandoned, the DISTRICT may terminate this AGREEMENT in accordance with Article VIII, Section 2; d. The DISTRICT may request the ARCHITECT prepare, at no additional cost, deductive change packages that will bring the PROJECT within the Budget; or e. The DISTRICT may request the ARCHITECT cooperate in revising the PROJECT scope and quality as required to reduce the Construction Cost. 7. If the DISTRICT chooses to proceed under Article V, Section 6(e), the ARCHITECT, without additional charge, agrees to redesign the PROJECT until the PROJECT is brought within the Budget set forth in this AGREEMENT. Redesign does not mean phasing or removal of parts of the PROJECT unless agreed to in writing by the DISTRICT. Redesign means the redesign of the PROJECT, with all its component parts, to meet the Budget set forth in this AGREEMENT.

  • Definitions Certain Rules of Construction As used herein, the following terms will have the following meanings:

  • ADDITIONAL CONSTRUCTIONS The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the building plan has been approved by the competent authority(ies) except for as provided in the Act.

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