Procedure for Making Disbursements from Project Fund Sample Clauses

Procedure for Making Disbursements from Project Fund. Upon the deposit of Collateral Payments in the Collateral Fund, if required and as provided in Section 4.13 hereof, the Trustee shall disburse the Bond proceeds on deposit in the Project Fund on a Construction Draw Date solely to pay Qualified Project Costs and only upon the receipt by the Trustee of (1) a request or requests therefor, upon requisition forms approved by the Issuer in substantially the form attached hereto as Exhibit E. Each requisition shall evidence disbursements from (i) the Project Fund or (ii) the Costs of Issuance Fund. Except in the case of an Exempt Disbursement, the Trustee shall not disburse money from the Project Fund, other than to pay interest and principal on the Bonds, unless and until Collateral Payments or other Eligible Funds in an amount equal to or greater than the requested disbursement amount have been deposited in the Collateral Fund. To the extent money on deposit in the Project Fund is invested in Eligible Investments yet to mature at the time of any such requested and permitted disbursement hereunder, the Trustee is hereby authorized to exchange an amount of such Eligible Investments in the Project Fund for a like amount of Collateral Payments on deposit in the Collateral Fund and then disburse such amounts from the Project Fund to pay Qualified Project Costs without the need to sell or terminate such Eligible Investments prior to their stated maturity date. Prior to making any disbursement from the Project Fund (except to make necessary interest payments), the Trustee shall determine that the aggregate account balance in
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