Common use of OPERATING STATEMENTS FOR PROPERTY AND IMPROVEMENTS Clause in Contracts

OPERATING STATEMENTS FOR PROPERTY AND IMPROVEMENTS. Beginning with the first calendar month following the date of completion of rehabilitation of the Project and continuing until the Conversion Date, Borrower shall deliver to Bondowner Representative on the fifteenth (15th) day of each month an “Operating Statement” which shows in detail the amounts and sources of Gross Operating Income received by or on behalf of Borrower and the amounts and purposes of Permitted Operating Expenses paid by or on behalf of Borrower with respect to the Property and Improvements for the previous month.

OPERATING STATEMENTS FOR PROPERTY AND IMPROVEMENTS. Beginning with the first calendar month following the date of completion of rehabilitation of the Project and continuing until the Conversion Effective Date, Borrower shall deliver to Bondowner Representative on the fifteenth (15th) day of each month an “Operating Statement” " which shows in detail the amounts and sources of Gross Operating Income received by or on behalf of Borrower and the amounts and purposes of Permitted Operating Expenses paid by or on behalf of Borrower with respect to the Property and Improvements for the previous month.

OPERATING STATEMENTS FOR PROPERTY AND IMPROVEMENTS. Beginning with the first calendar month following the date of completion of rehabilitation construction of the Project and continuing until the Conversion Date, Borrower shall deliver to Bondowner Representative on the fifteenth (15th) day of each month an “Operating Statement” which shows in detail the amounts and sources of Gross Operating Income received by or on behalf of Borrower and the amounts and purposes of Permitted Operating Expenses paid by or on behalf of Borrower with respect to the Property and Improvements for the previous month.

OPERATING STATEMENTS FOR PROPERTY AND IMPROVEMENTS. Beginning with the first calendar month following the date of completion of rehabilitation of the Project and continuing until the Conversion Date, Borrower Xxxxxxxx shall deliver to Bondowner Representative on the fifteenth (15th) day of each month an “Operating Statement” which shows in detail the amounts and sources of Gross Operating Income received by or on behalf of Borrower and the amounts and purposes of Permitted Operating Expenses paid by or on behalf of Borrower with respect to the Property and Improvements for the previous month.