Common use of Insufficient Moneys in Construction Fund Clause in Contracts

Insufficient Moneys in Construction Fund. In the event the moneys in the Construction Fund available for payment of the Cost of Construction, together with moneys made available to pay the Cost of Construction from the proceeds of previous or subsequent issues of revenue bonds, should not be sufficient to pay the Cost of Construction in full, the Company agrees to pay all that portion of the Cost of Construction in excess of the moneys available therefor. The Issuer does not make any warranty, either express or implied, that the moneys which will be paid into the Construction Fund and will be available for payment of the Cost of Construction will be sufficient to pay the Cost of Construction in full. If the Company shall make any payments pursuant to this Section 3.2, it shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the holders of any of the Bonds, nor shall it be entitled to any diminution in or postponement of the payment of any amounts payable under this Agreement.

Appears in 1 contract

Samples: Installment Sale Agreement (Louisiana Power & Light Co /La/)

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Insufficient Moneys in Construction Fund. In the event If the moneys in the Construction Fund available for payment of the Cost of ConstructionFund, together with any other moneys made available to pay the Cost of Construction from the proceeds of previous or subsequent issues of revenue bondsConstruction, should shall not be sufficient to pay the Cost of Construction in full, then the Company agrees to shall pay all that portion of the Cost of Construction in excess of the moneys available therefor. The Issuer Authority does not make any warranty, either express or implied, that the moneys which will be paid into the Construction Fund and will be available for payment of the Cost of Construction will be sufficient to pay the Cost of Construction in full. If the Company shall make makes any payments pursuant to this Section 3.23.03, it shall not be entitled to any reimbursement therefor from the IssuerAuthority (except from the proceeds of any obligations subsequently issued by the Authority in respect of the Facilities), the Trustee or the holders of any Owners of the Bonds, nor shall it be entitled to any diminution in or postponement of the payment of the Loan Payments or the payment of any other amounts payable under this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Unisource Energy Corp)

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Insufficient Moneys in Construction Fund. In the event If the moneys in the Construction Fund available for payment of the Cost of ConstructionFund, together with any other moneys made available to pay the Cost of Construction from the proceeds of previous or subsequent issues of revenue bondsConstruction, should shall not be sufficient to pay the Cost of Construction in full, then the Company agrees to shall pay all that portion of the Cost of Construction in excess of the moneys available therefor. The Issuer Authority does not make any warranty, either express or implied, that the moneys which will be paid into the Construction Fund and will be available for payment of the Cost of Construction will be sufficient to pay the Cost of Construction in full. If the Company shall make makes any payments pursuant to this Section 3.23.02, it shall not be entitled to any reimbursement therefor from the IssuerAuthority (except from the proceeds of any obligations subsequently issued by the Authority in respect of the Facilities), the Trustee or the holders of any Owners of the Bonds, nor shall it be entitled to any diminution in or postponement of the payment of the Loan Payments or the payment of any other amounts payable under this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Tucson Electric Power Co)

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