Common use of Payment of Project Costs for Buildings and Improvements Clause in Contracts

Payment of Project Costs for Buildings and Improvements. The Issuer hereby agrees to pay for the acquisition, construction, equipping and furnishing of the Improvements, but solely from the Project Fund, and hereby authorizes and directs the Trustee to fund all amounts submitted by the Company on the certificate of payment of Project Costs in accordance with this Lease, but solely from the Project Fund, from time to time, while the Company is in compliance with the requirements of Section 6.1 hereof, upon receipt by the Trustee of a certificate signed by the Authorized Company Representative in the form set forth by Appendix A hereto which is incorporated herein by reference and receipt of lien waivers for all amounts relating to construction of the Project. The sole obligation of the Issuer under this Section shall be to cause the Trustee to make such disbursements upon receipt of such certificates. The Trustee may rely fully on such certificate and shall not be required to make any investigation in connection therewith, except that the Trustee shall investigate requests for reimbursements by the Company directly to the Company and shall require such supporting evidence as would be required by a reasonable and prudent corporate trustee.

Appears in 6 contracts

Samples: Lease Agreement, Lease, Lease

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Payment of Project Costs for Buildings and Improvements. The Issuer hereby agrees to pay for the acquisition, construction, construction and equipping and furnishing of the Improvements, but solely from the Project Fund, and hereby authorizes and directs the Trustee to fund all amounts submitted by the Company on the certificate of payment of Project Costs in accordance with this Lease, but solely from the Project Fund, from time to time, while the Company is in compliance with the requirements of Section 6.1 hereof, upon receipt by the Trustee Trustee, with a copy to the Issuer, of a certificate signed by the Authorized Company Representative in the form set forth by Appendix A hereto which is incorporated herein by reference and receipt of lien waivers for all amounts relating to construction of the Project. The sole obligation of the Issuer under this Section shall be to cause the Trustee to make such disbursements upon receipt of such certificates. The Trustee may rely fully on such certificate and shall not be required to make any investigation in connection therewith, except that the Trustee shall investigate requests for reimbursements by the Company directly to the Company and shall require such supporting evidence as would be required by a reasonable and prudent corporate trustee.

Appears in 1 contract

Samples: Lease

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Payment of Project Costs for Buildings and Improvements. The Issuer hereby agrees to pay for the acquisition, construction, equipping and furnishing of the Improvements, but solely from the Project Fund, and hereby authorizes and directs the Trustee to fund all amounts submitted by the Company on the certificate of payment of Project Costs in accordance with this Lease, but solely from the Project Fund, from time to time, while the Company is in compliance with the requirements of Section 6.1 hereof, upon receipt by the Trustee of a certificate signed by the Authorized Company Representative in the form set forth by Appendix A hereto which is incorporated herein by reference and receipt of lien waivers for all amounts relating to construction of the Project. The sole obligation of the Issuer under this Section shall be to cause the Trustee to make such disbursements upon receipt of such certificates. The Trustee may rely fully on such certificate and shall not be required to make any investigation in connection therewith, except that the Trustee shall investigate requests for reimbursements by the Company directly to the Company and shall require such supporting evidence as would be required by a reasonable and prudent corporate trustee.

Appears in 1 contract

Samples: Lease

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