Project Revenues. The Borrower understands, acknowledges and agrees that the Project Revenues shall be deposited and applied as provided for herein and in the Indenture, including without limitation, Section 5.02 thereof with respect to amounts required to be deposited in the Bond Fund. For purposes of clarifying (and without limiting) the foregoing, Project Revenues shall be deposited and applied so as to achieve payments in the following order of priority:
(i) Payment of Operating Expenses;
(ii) Payment of Administrative Expenses;
(iii) [reserved];
(iv) Payment of interest and scheduled mandatory sinking fund installments on the Senior Bonds; and
(v) Payment of interest and scheduled mandatory sinking fund installments on the Series A-2 Bonds.
Project Revenues. Project Revenues are revenues received or earned (or deemed received or earned) by the respective Recipient during the Term directly arising from the Project, and shall be determined in accordance with the following:
(a) the Project Plan, including without limitation the facilities, activities and operations identified in the Project Plan, sets out:
(i) the boundaries of the Project for the purpose of determining the revenues received by the respective Recipient that constitutes Project Revenues of the respective Recipient; and
(ii) subject to the other provisions of this Section 3.6, the specific anticipated revenues of the respective Recipient;
(b) Project Revenues include:
(i) all Funding, Other Public Funding, monetary credits, contractual payments, sale proceeds, commissions, bonuses and other payments or consideration of any kind whatsoever that become due and payable to the respective Recipient in respect of the Project, excluding any such consideration which is associated with the disposition by the respective Recipient of any of its interest in the Project;
(ii) the fair market value of all credits (including without limitation tax credits or any other amount based upon taxes avoided), allowances, offsets and other consideration of any kind whatsoever that the respective Recipient receives or earns based upon the achievement of reductions in the emission of carbon dioxide into the atmosphere due to the sequestration of carbon dioxide under the Project, whether achieved by such Recipient or by any other person (including the other Recipient); and
(iii) to the extent that the respective Recipient uses any captured or acquired carbon dioxide for its own account, the fair market value of the carbon dioxide (and such value shall be deemed to have been received or earned by the Recipient directly arising from the Project);
(iv) in the case of Enhance, to the extent that Enhance transports carbon dioxide on its pipeline for its own account, a deemed pipeline rate, toll or tariff representing the fair market value of the associated transportation service (and such value shall be deemed to have been received or earned by Enhance directly arising from the Project), except that the rate of return component of the associated deemed pipeline rate, toll or tariff shall be equal to the “return allowance rate” as defined in the Oil Sands Allowed Costs (Ministerial) Regulation (excluding any amendments made after the date of this Agreement) made under the Mines an...
Project Revenues. For the avoidance of doubt, none of the proceeds of the Loans, Voluntary Equity Contributions, delay liquidated damages received by any Loan Party pursuant to or in connection with the EPC Contract, the proceeds of any Indebtedness not otherwise permitted to be incurred by any Loan Party under the terms of the Loan Documents, Recovery Event Proceeds or Termination Payments payable to any Loan Party shall constitute Project Revenues.
Project Revenues. The Contractor shall not be entitled to any revenues associated with the sale of any fruit, vegetables, flowers or other produce from the Greenhouse.
Project Revenues. The Borrower shall: (a) cause all Project Revenues received by the Borrower to be deposited into the Construction Account and (b) otherwise deposit and maintain, or cause to be deposited and maintained, all other amounts received into the Accounts in accordance with the Depositary Agreement.
Project Revenues. All net revenues (revenues minus 4Pay app fees) collected through parking permit fees for the Lands during the pilot project will be held by the Township in escrow. The use of such funds will be at the direction of the Steering Committee which may approve the use of revenue from the parking permit fees to finance programs and services in connection with the public trail system located in the Township of Uxbridge, including but not limited to,
(a) Trail state of good repair;
(b) Wayfinding signs;
(c) Benches/rest areas;
(d) Hazard mitigation;
(e) Trail development;
(f) Waste collection;
(g) Parking lot maintenance;
(h) Restroom maintenance; and
Project Revenues. The term “Project revenues” means Gaming Revenues and all other revenues derived from the Project.
Project Revenues. Project Revenues are revenues generated through the sale or lease of finished horizontal or bulk lots in the Project for “vertical development”. Subject to participation by the Redevelopment Agency in vertical development as outlined in Section V.A below, these Project Revenues are the source of funds to repay the Developer’s investment of private capital. Over the life of the Project, total Project Revenues are estimated at approximately $1.3 billion, as shown on Attachment 3. The primary sources of Project Revenue are:
Project Revenues. 22 SECTION 5.14
Project Revenues. The Company shall deposit all revenues received by it into the Revenue Account and shall irrevocably instruct all Project Parties that make payments to the Company under the Project Documents to deposit such payments into the Revenue Account.
