Common use of Issuance of Bonds Clause in Contracts

Issuance of Bonds. In order to provide funds to finance the acquisition, construction and installation of the Project, the Issuer, concurrently with the execution of this Loan Agreement, will sell, issue and deliver to the initial purchasers thereof the Bonds, all in accordance with the Indenture. The Issuer will thereupon cause the accrued interest, if any, received upon the delivery of the Bonds to be deposited in the Debt Service Fund and the balance of the proceeds received from the sale of the Bonds to be deposited in the Construction Fund.

Issuance of Bonds. In order to provide funds to finance the acquisition, construction and installation of the Project, the Issuer, concurrently with the execution of this Loan Agreement, will sell, issue and deliver to the initial purchasers thereof the Bonds, all in accordance with the Indenture. The Issuer will thereupon cause the accrued interest, if any, received upon the delivery of the Bonds to be deposited in the Debt Service Fund and the balance of the proceeds received from the sale of the Bonds to be deposited in the Construction Fund.