Project Control Account. There shall be deposited into the Project Control Account:
Project Control Account. (a) Except during a Default Period, on each Disbursement Date after the Commercial Operations Date, the Security Agent shall transfer from the Project Control Account the following amounts in the following order of priority: first, if such Disbursement Date is a Monthly Operating Disbursement Date, to the Security Agent and the Administrative Agent for any unpaid fees, costs and expenses then due and payable to it as Security Agent; second, if such Disbursement Date is a Monthly Operating Disbursement Date, to the Borrower for the payment of the Cash Operating Costs due and payable during such calendar month (excluding the Basic Monthly O&M Fee, the Annual O&M Bonus, Major Maintenance Expenses, amounts to be deposited in the Repair and Maintenance Account and insurance premiums and property taxes to the extent paid with the proceeds of any amounts on deposit in the Insurance and Property Tax Reserve Account), the amount specified in the Request Letter delivered with respect to such Monthly Operating Disbursement Date in accordance with Section 5.13; provided that if the amount of Cash Operating Costs for such calendar month exceeds the amount of budgeted Cash Operating Costs for such calendar month specified in the relevant Operating Budget by more than 10%, in each case exclusive of Major Maintenance Expenses, amounts to be deposited in the Repair and Maintenance Account, the cost (including transportation cost) of Coal, limestone and ammonia and ash disposal costs, such excess Cash Operating Costs shall be disbursed to the Borrower pursuant to this clause only with the prior consent of the Administrative Agent, which consent shall not be unreasonably withheld; third, if such Disbursement Date is a Monthly Operating Disbursement Date, into the Insurance and Property Tax Reserve Account, an amount equal to 1/12th of any insurance premiums and property taxes payable on or within twelve months following such Monthly Operating Disbursement Date, together with the amount of all deficiencies, if any, with respect to deposits required during all prior months with respect to insurance premiums and property taxes; 29 24 fourth, if such Disbursement Date is a Monthly Operating Disbursement Date, (a) into the Bank Accrued Interest Subaccount, the Bank Accrued Interest Amount calculated as of such date and (b) into the Institutional Accrued Interest Subaccount, the Institutional Accrued Interest Amount calculated as of such date; fifth, if such Disbursement Date is a...
Project Control Account. (a) The Borrower shall establish by the Closing Date and maintain at the Borrower's expense an interest-bearing account (the "Project Control Account") under the Administrative Agent's control with the Account Bank, and the Borrower shall deposit or cause to be deposited in the Project Control Account: (i) all Project Revenues to be received by the Borrower, (ii) all proceeds of Construction Loans advanced to the Borrower hereunder, (iii) all proceeds of the Base Equity Contribution Amount, (iv) all proceeds of the Construction Equity Contribution Amount, (v) all proceeds of the Contingent Equity Contribution Amount, (vi) all proceeds of any insurance award or award received in connection with any Taking,
Project Control Account. The Borrower hereby irrevocably requests that the Agent shall maintain a special account (the “Project Control Account”) at BNY and such account shall be titled “Project Control Account”. The Agent shall have “control” (within the meaning of the UCC) over the Project Control Account in accordance with the terms of the Deposit Agreement. The Project Control Account shall be maintained so long as there exists any amount in any of the funds or accounts created under the Series 0000 Xxxxxxxxx or the Series 1993 Indenture. Until the Tranche B Conversion Date, Borrower shall maintain a sub-account of the Project Control Account (the “Rova II Sub-Account”) into which all Cash Revenues from the Rova II Facility shall be deposited. All Cash Revenues (and insurance proceeds not required to be deposited in the Contingency Account pursuant to Section 6.1(i) hereof) shall be deposited in the Project Control Account. Borrower has irrevocably instructed all parties paying Cash Revenues to Borrower, and shall so instruct all other parties at any time paying Cash Revenues to Borrower, to make such payments into the Project Control Account. On the Amendment No. 10 Execution Date, the proceeds of the funds which were on deposit in the Original Project Control Account shall be deposited in the Project Control Account (including that proceeds of funds which were on deposit in the Original Rate Sub-Account shall be deposited in the Rate Sub-Account).
Project Control Account. Borrower shall maintain a special depository account (the “Project Control Account”), which shall in any event be maintained so long as there exists any amount in any of the funds or accounts created under the Series 0000 Xxxxxxxxx or the Series 1993 Indenture. Until the Tranche B Conversion Date, Borrower shall maintain a sub-account of the Project Control Account (the “Rova II Sub-Account”) into which all Cash Revenues from the Rova II Facility shall be deposited. All Cash Revenues (and insurance proceeds not required to be deposited in the Contingency Account pursuant to Section 6.1(i) hereof) shall be deposited in the Project Control Account, except that prior to the Tranche B Conversion Date, all Cash Revenues from the Rova II Facility shall be deposited into the Rova II Sub-Account. Borrower has irrevocably instructed all parties paying Cash Revenues to Borrower, and shall so instruct all other parties at any time paying Cash Revenues to Borrower, to make such payments into the Project Control Account and, until the Tranche B Conversion Date, Cash Revenues from the Rova II Facility to be deposited into the Rova II Sub-Account In addition, Borrower shall maintain a second sub-account of the Project Control Account (the “Checking Sub-Account”) against which checks may be drawn by Borrower for the payment of Cash Expenses. The balance in the Checking Sub-Account shall not exceed the aggregate amount of all checks outstanding and to be drawn against such account. The Project Control Account shall be an interest bearing money market account, and funds therein shall be invested in investments to the extent customarily made available from time to time by Agent to its customers, including but not limited to commercial paper and certificates of deposit Borrower shall not make transfers from the Project Control Account to the Checking Sub-Account more than three times in any month (or such other amount as may be permitted by law).
Project Control Account. The term "
Project Control Account. (a) All Gross Revenues shall be deposited by Borrower in a special depository account (the "Project Control Account") maintained by Borrower with Credit Suisse, 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (Account No. 199605-02), and titled appropriately so as to identify the nature of such account. Borrower has irrevocably instructed all parties paying Gross Revenues to Borrower, and shall so instruct all other parties at any time paying Gross Revenues to Borrower, to make such payments into the Project Control Account, and all such parties have agreed to make all such payments into the Project Control Account. The monies in the Project Control Account shall be invested in Permitted Investments, selected by Borrower considering the timing of projected withdrawals from such account.
Project Control Account. The Lessee authorizes the Lessor to ----------------------- deduct from the Project Control Account the amount of any payment due from the Lessee, the Parent and/or ITG to the Lessor under this Agreement or the other Lease Documents. The failure of the Lessor to deduct any such payment from the Project Control Account shall not affect or limit the Lessee's and/or the Parent's and/or ITG's obligation to make such payment.
Project Control Account. See (S)4.4.1. -----------------------
Project Control Account. (a) The Borrower shall establish by the Closing Date and maintain at the Borrower's expense an interest-bearing account (the "Project Control Account") under the Administrative Agent's control with the Account Bank, and the Borrower shall deposit or cause to be deposited in the Project Control Account: (i) all Project Revenues to be received by the Borrower, (ii) all proceeds of Construction Loans advanced to the Borrower hereunder, (iii) all proceeds of the Base Equity Contribution Amount, (iv) all proceeds of the Construction Equity Contribution Amount, (v) all proceeds of the Contingent Equity Contribution Amount, (vi) all proceeds of any insurance award or award received in connection with any Taking, (vii) all proceeds of any Interest Rate Agreements, (viii) all proceeds of any Project Document that are not included in Project Revenues (including, without limitation, any damages or liquidated damages in connection with any of the Project Documents) and any guarantees, letters of credit or bonds supporting the obligations of any Person party thereto other than the Borrower, (ix) all amounts transferred from the Debt Service Reserve Account, (x) all cash on hand of the Borrower on the Effective Date that represents the Base Equity Contribution Amount, (xi) all proceeds of any Subordinated Indebtedness, and (xii) any other amounts received by the Borrower. Notwithstanding the foregoing provisions of this Section 2.20(a), all other sums identified expressly as required to be deposited into the Debt Service Reserve Account in accordance with the terms hereof shall be so deposited.
