Financing of Project. Project Company shall be solely responsible for securing the financing necessary for development of the Project, which may consist of loans or equity. Government shall have no responsibility to provide financing to Project Company or to provide financial guarantees to Project Company or any Lender. Government shall cooperate with any reasonable requests by Lenders for standard supplementary documentation in connection with the status of Government as counterparties to this Agreement and the Land Lease Agreement(s). In the event that the Project Company wishes to obtain loans from sources outside of the Lao PDR, Project Company shall comply with the regulations of the Bank of Lao PDR.
Financing of Project. Tenant shall have a period of six (6) months from the Commencement Date to obtain capital funding for the construction of the initial Buildings in the amount of $2.6 million dollars. The funds shall be held in an escrow account (“Construction Escrow”) by a third party escrow agent to be mutually agreed upon by Landlord and Tenant (the “Escrow Agent”) on or prior to the date which is sixty (60) days following the Commencement Date. In the event that Tenant is unable to raise such funds within said six (6) month period, Tenant shall have an additional six (6) month period to do so, provided that Tenant has paid Base Rent in accordance with Section 4.1. If Tenant is then unable to raise such funds on or before twelve (12) months from the Commencement Date, this Lease shall terminate and all obligations of the parties shall cease without recourse of either party to the other except for any obligations which accrued prior to such termination date and remain unsatisfied. On or prior to the date which is sixty (60) days following the Commencement Date, Landlord and Tenant shall enter into a mutually acceptable Construction Escrow Agreement with the Escrow Agent, which shall govern the release of funds from the Construction Escrow for construction costs. If Tenant desires to construct additional Buildings on the Premises after construction of the initial Buildings, Tenant shall submit all items required by Section 9.1 above, except that in lieu of a Construction Escrow, Tenant shall provide Landlord evidence reasonably satisfactory to Landlord that Tenant has sufficient funds available to meet the budget for such additional Buildings. Landlord shall have the right to disapprove the construction of additional Buildings if Landlord reasonably determines that sufficient funds are not available to complete construction of additional Buildings.
Financing of Project. The Developer shall be obligated to close on the Construction Loan with the CRA. The failure of the Developer to close on the Construction Loan shall be considered a material default of this Agreement entitling the CRA to its rights and remedies hereunder.
Financing of Project. The Authority will finance the Project with proceeds of the Series 2023 Bond as provided in the Bond Resolution, including proceeds on deposit in the Project Fund to be established under the Bond Resolution or other funds lawfully available for such purpose. The Costs of the Project is being financed through the Series 2023 Bond in furtherance of the Authority’s and the City’s public purposes and in particular those public purposes described elsewhere herein. The Authority hereby agrees to issue the Series 2023 Bond to finance the Costs of the Project and thereby cause the Project to be paid for in accordance with the provisions hereof and of the Act, and the City hereby agrees to make the payments provided for in Section 5.01 hereof in accordance with the provisions of this Contract.
Financing of Project. The Authority hereby agrees to loan the proceeds of the Bonds to the Corporation to be passed through the Corporation to be used ultimately for the payment of the Costs of the Project.
Financing of Project. Simultaneously with the closing of the sale of the Bonds, the Company shall cause the Board to apply the net proceeds received from the sale of the Bonds for the following purposes and in the following order:
(1) There shall be paid all costs of the issuance of the Bonds including, without limitation, all recording costs, appraisal fees, legal fees and expenses (including the legal fees and expenses of the Bank’s counsel), engineering fees, printing costs, and fiscal agent’s fees.
(2) The balance of the proceeds of the Bonds shall be deposited in the Construction Fund created under the Indenture and disbursed as therein provided.
Financing of Project. Section 2.1 Issuance of Bonds.................................................................... 16 Section 2.2
Financing of Project. The parties acknowledge and agree that the Developer will obtain a Construction Loan for the construction of each of the Townhouse Component and Mixed Use Component. Either prior to or upon approval of the Development Plan, the Developer shall use its good faith and diligent efforts to obtain from a Lender a commitment letter and loan document package for a construction loan for each of the Townhouse Component and Mixed Use Component each in an amount consistent with the Development Budget and on terms reasonably acceptable to the Developer and CRA (collectively, the “Construction Loan”). The term Construction Loan shall mean and apply to the individual Construction Loan for each of the Townhouse Component and Mixed Use Component.. To the extent Developer is able to obtain a commitment letter and loan document package for each Construction Loan, provided that the Developer has met all other conditions precedent under Section 5.1 below (other than obtaining the Construction Loan) and any other conditions precedent to the closing of the Construction Loan, the Developer shall be obligated to close on the Construction Loan. The CRA shall permit a separate mortgage to be placed on each of the Townhouse Site and the Mixed Use Site as collateral for the respective Construction Loan provided that (a) the lender is a Lender, and (b) the loan or bond documents are in a form and substance reasonably acceptable to the CRA and its legal counsel and shall include at a minimum, requirements that (i) the Lender shall, in the manner provided in the loan documents, give notice to the CRA of each notice of default given to Developer under the loan documents and (ii) the CRA shall have the right, for a reasonable period beyond the cure period that is given to Developer, to remedy or cause to the remedied any default which is the basis of a notice and the Lender shall accept performance by the CRA as performance by the Developer. The Construction Loan for each of the Townhouse Site and Mixed Use Site (x) may be provided by different Lenders (y) shall not be cross defaulted unless required by the Lender(s) and (z) shall not be cross collateralized. Except for the Construction Loan, the CRA shall have no obligation to allow any of its property (real or personal) to be mortgaged, assigned, pledged or hypothecated as security for any obligation of Developer in connection with the Project. To the extent required by the Lender making the Construction Loan, the CRA shall join in and ...
Financing of Project. The City and the JEPA agree that the Trustee shall disburse the net proceeds of the Bonds in accordance with Sections 3.4 and 3.10 of the Indenture and the terms of the Project Implementation Agreement.
Financing of Project. Section 3.3. Repayment to Authority; Repayment to Corporation........................................
