Payment for Project Costs. The City hereby authorizes and directs the Trustee to make disbursements from the Project Fund and endorse the Bonds, upon receipt by the Trustee of certificates in substantially the form of Exhibit C, attached hereto and incorporated herein by reference, signed by the Authorized Developer Representative and approved by the Authorized City Representative. Upon request by the City, the Developer shall provide the City with copies of invoices, bills, lien waivers and other reasonable documentation to support each submitted requisition certificate. The Trustee may rely conclusively on any such certificate and shall not be required to make any independent inspection or investigation in connection therewith. The approval of any requisition certificate by the Authorized Developer Representative and the Authorized City Representative shall constitute, unto the Trustee, an irrevocable determination that all conditions precedent to the payments requested have been completed.
Payment for Project Costs. All Project Costs as specified in Section 4.3 hereof shall be paid by the Trustee from the Project Fund as more fully provided in the Indenture. The Issuer hereby authorizes and directs the Trustee to make disbursements from the Project Fund, upon receipt by the Trustee of certificates in substantially the form attached hereto as Exhibit D, signed by an Authorized Company Representative:
(a) requesting payment of a specified amount of such funds and directing to whom such amount shall be paid (whose name and address shall be stated);
(b) describing in reasonable detail each item of Project Costs for which payment is being requested;
(c) stating that each item for which payment is requested is or was necessary and appropriate in connection with the purchase, acquisition, construction, improvement, furnishing, equipping or remodeling of the Project, has been properly incurred and is a proper charge against the Project Fund, that the amount requested either has been paid, or is justly due, and has not been the basis of any previous requisition from the Project Fund; and
(d) stating that, except for the amounts, if any, stated in said certificate, to the best of their knowledge there are no outstanding statements which are then due and payable for labor, wages, materials, supplies or services in connection with the purchase, acquisition, construction, improving, furnishing, equipping or remodeling of the Project which, if unpaid, might become the basis of a vendors’, mechanics’, laborers’ or materialmen’s statutory or other similar lien upon the Project or any part thereof, or setting out (i) all disputed statements and the reason for such disputes, and (ii) all statements in process but not yet presented to the Trustee for payment. The Trustee may rely conclusively on any such certificate and shall not be required to make any independent investigation in connection therewith. In addition, the Project Costs may be paid or deemed to be paid in such manner as provided by the Trustee upon receipt of any such certificate.
Payment for Project Costs. The City hereby authorizes and directs the Trustee to make disbursements from the Project Fund, upon receipt by the Trustee of certificates in substantially the form attached hereto as Exhibit C, signed by an Authorized Company Representative and approved by an Authorized Company Representative, (a) requesting payment or reimbursement of a specified amount of such funds (which amount shall be equal to the value of the property being transferred to the City simultaneously with any request) and directing to whom such amount shall be paid (which may include the Company in the event of a reimbursement);
Payment for Project Costs. 7 Section 4.5. Establishment of Completion Date. 8 Section 4.6. Surplus or Deficiency in Project Fund 8
Payment for Project Costs. Recipient may request payment of Funds hereunder either for Work costs already paid or incurred by Recipient (such requests, “Reimbursement Requests”) or, upon a demonstration of actual and immitigable need, for Work costs to be paid or incurred by Recipient imminently (such requests, “Advance Requests”). Recipient shall make Reimbursement Requests and Advance Requests in accordance with the following procedures and subject to the following terms and conditions.
Payment for Project Costs. (a) All Project Costs shall be paid by the Lessor from moneys in the Project Fund upon receipt by the Lessor of requisition certificates in substantially the form attached hereto as Schedule 3 to this Lease in accordance with Section 504 of the Indenture.
(b) If the Project Fund shall be insufficient to pay fully all Project Costs and to complete fully the Project free of liens or claims, the Lessee shall pay, but only from legally available funds, the full amount of any such deficiency by making payments directly to the Construction Contractors and to the suppliers of materials and services as the same shall become due, and the Lessee shall save the Lessor whole and harmless from any obligation to pay such deficiency.
Payment for Project Costs. 10 Section 4.5. Establishment of Completion Date 10 Section 4.6. Surplus or Deficiency in Project Fund 11 Section 4.7. Project Property of City 11 Section 4.8. Machinery and Equipment Purchased by the Tenant or Subtenant 11
Payment for Project Costs. All Project Costs as specified in Section 4.3 hereof shall be paid by the Trustee from the Project Fund as more fully provided in the Indenture, and the City hereby authorizes and directs the Trustee to make disbursements from the Project Fund, upon receipt by the Trustee of certificates in substantially the form attached hereto as Exhibit C, signed by an Authorized Company Representative, which disbursements may be recorded via a transaction entry on the trust records held by the Trustee. The Trustee may rely conclusively on any such certificate and shall not be required to make any independent investigation in connection therewith. The submission of any requisition certificate by an Authorized Company Representative shall constitute unto the Trustee an irrevocable determination that all conditions precedent to the payments requested have been satisfied.
Payment for Project Costs. (a) General. Only Project Costs shall be paid by the Trustee from moneys in the Construction Fund. The Authority hereby authorizes and directs the Trustee to make disbursements from the Construction Fund upon receipt by the Trustee of requisitions signed by the Authorized Authority Representative. Requisitions from the Construction Fund shall be in substantially the form attached hereto as Exhibit B-1. The aggregate amount of such disbursements shall not exceed $ until there is delivered to the Trustee a written certificate of the Authorized Authority Representative and the Construction Manager that a Fixed Price Construction Contract has been awarded for the Project, and thereafter the requisitions shall be in substantially the form attached hereto as Exhibit B2. No money shall be disbursed from the Construction Fund for the acquisition of the Project Site until the Trustee receives the title insurance policy required by Section 5.3 hereof. After the Trustee receives the title insurance policy required by Section 5.3 hereof, no additional money shall be disbursed from the Construction Fund until the Trustee receives an endorsement updating the title insurance policy and insuring the total amount of the Construction Fund then disbursed against filed and unfiled mechanics’ and materialmen’s liens for all work in place and materials stored to the date of the requisition, together with a continuation report, stating that since the date of the title commitment or policy or since the date of the last preceding continuation report, no liens or encumbrances have been recorded, and no taxes, assessments or other charges of whatever nature have become due and that there are no additional title exceptions or objections. The Authority will maintain at its principal office copies of lien waivers, affidavits, paid invoices and reasonably related backup data required for such requisitions and the Trustee will maintain at its principal corporate trust office copies of the title insurance policy and endorsements thereto required for such requisitions.
(b) Trustee May Rely. Upon receipt of requisition certificates properly completed as aforesaid, accompanied by appropriate documentation, the Trustee will, at the direction of the Authority, disburse moneys from the Construction Fund directly to the appropriate payees or to the Authority for the payment of all such costs. The Trustee may rely conclusively on any such documentation and shall not be required to make any inde...
Payment for Project Costs. 7 Section 4.5. Establishment of Completion Date........................................................ 7 Section 4.6. Surplus or Deficiency in Construction Fund.............................................. 8 Section 4.7. Project Property of City................................................................ 8 ARTICLE V
