Payment of Certificates. Based on ARCHITECT'S observations at the site, and an evaluation of the Application for Payment, ARCHITECT shall assist DISTRICT in determining the amounts owing to the Contractor(s) each month. ARCHITECT shall review and recommend Certificates for Payment from Contractor(s). Before authorizing any payments to the Contractor, ARCHITECT shall carefully and promptly review and approve the most recent schedule of values submitted by the Contractor and shall require sufficient data to substantiate the Contractor’s right to payment as the DISTRICT or ARCHITECT may require. ARCHITECT shall carefully determine the proper amount owing to the Contractor, and within the time limits prescribed by the Contract Documents, shall issue a certificate for payment for such amounts as may be due to the contractor. If ARCHITECT does not approve the schedule of values as submitted by the Contractor(s), ARCHITECT shall advise the DISTRICT, Construction Manager, and the Contractor of ARCHITECT’S reasons for withholding the certification in whole or in part. The issuance of a Certificate for Payment shall constitute a representation by ARCHITECT to the DISTRICT that the work has satisfactorily progressed to the point indicated, complies with and is in accordance with all building codes, all government rules and regulations and the Contract Documents (subject to an evaluation of the work as a functioning whole upon completion, and to the results of any subsequent tests required by the Contract Documents, and to minor deviations from the Contract which are correctable before completion), and that the Contractor is entitled to the payment in the amount certified. ARCHITECT shall follow the time limits prescribed by the Contract Documents and/or applicable law for performing the tasks set forth in this Article 1.6.9.
Payment of Certificates. From the maturing principal of the Defeasance Securities held in the Escrow Fund and the investment income and other earnings thereon and any uninvested money then held in the Escrow Fund, the Escrow Bank shall apply such amounts as follows:
Payment of Certificates. ACCOUNTS ---------------------------------
Payment of Certificates. ACCOUNTS [NOTE: THE PROVISIONS OF SECTIONS 5.01, 5.02, 5.03, 5.07, 5.08, 5.09 AND 5.10 MAY BE DELETED OR MODIFIED DEPENDING ON THE TERMS OF A PARTICULAR TRANSACTION.]
Payment of Certificates. The 2023 Certificates shall bear interest until payment of the principal or redemption price thereof shall have been made or provided for in accordance with the provisions hereof, whether at Maturity, upon redemption or otherwise. Interest accrued on the 2023 Certificates shall be paid on each Interest Payment Date. Interest on the 2023 Certificates shall be computed upon the basis of a 360-day year consisting of twelve 30-day months. The payment of principal and premium, if any, on any Certificate shall be payable when due to an Owner upon presentation and surrender of such Certificate at the Principal Office of the Trustee. Interest on any Certificate shall be paid on each Interest Payment Date by check mailed by the Trustee on that date to the Person in whose name the Certificate is registered at the close of business on the Record Date applicable to that Interest Payment Date on the registration books maintained by the Trustee at the address appearing therein. Notwithstanding the foregoing, in the case of any Certificates for which DTC is acting as Depository, the principal of, premium, if any, and interest on such Certificates shall be payable as directed in writing by the Depository and in accordance with the Representation Letter. Notwithstanding the foregoing, in the case of an Owner of $1,000,000 or more in aggregate principal amount of Certificates, the principal of, premium, if any, and interest on such Certificates may be payable by wire transfer of funds to a bank account designated by the Owner in written instructions to the Trustee. If and to the extent, however, that payment of interest on any Certificate on any Interest Payment Date is not made, that interest shall cease to be payable by the Trustee to the Person who was the Owner of that Certificate as of the applicable Record Date. When moneys become available for payment of the interest, the Trustee shall establish a Special Record Date for the payment of that interest which shall be not more than 15 nor fewer than 10 days prior to the date of the proposed payment, and the Trustee shall cause notice of the proposed payment and of the Special Record Date to be mailed by first class mail, postage prepaid, to such Owner at its address as it appears on the registration books maintained by the Trustee no fewer than 10 days prior to the Special Record Date and thereafter the interest shall be payable to the Persons who are the Owners of the Certificates at the close of business on the Special...
Payment of Certificates. Subject to 4.6.4, the final date for payment of each payment under clauses 4.3 to 4.5 shall be 30 days from its due date.
Payment of Certificates. Interest represented by the Certificates shall be payable on each Interest Payment Date, and shall represent the portion of Lease Payments designated as interest and coming due on such Interest Payment Date pursuant to the Lease Agreement. The share of the portion of Lease Payments designated as interest with respect to any Certificate shall be computed by multiplying the portion of Lease Payments designated as principal represented by such Certificate by the rate of interest represented by such Certificate (calculated on the basis of a 360-day year of twelve 30-day months). Interest represented by each Certificate shall be paid on each Interest Payment Date by check of the Trustee mailed on such Interest Payment Date by first class mail, postage prepaid, to the person appearing on the Registration Books as the Owner thereof as of the close of business on the preceding Record Date, at such Owner's address as it appears on the Registration Books; provided, however, that at the written request of the Owner of Certificates in an aggregate principal amount of at least $1,000,000, which written request is on file with the Trustee as of any Record Date, interest represented by such Certificates shall be paid on each succeeding Interest Payment Date by wire transfer in immediately available funds to such account within the United States of America as shall be specified in such written request. The principal and prepayment price represented by any Certificate at maturity or upon prior prepayment shall be payable in lawful money of the United States of America upon presentation and surrender of such Certificate at the Office of the Trustee.
Payment of Certificates
