Reserve Accounts. The Sponsor shall establish and maintain reserve accounts as required by the Department and as further described in the Regulatory Agreement. All withdrawals shall require prior written approval from the Department, as provided in the Regulatory Agreement.
Appears in 3 contracts
Samples: Grant Agreement, Standard Agreement, Standard Agreement
Reserve Accounts. The Sponsor shall establish and maintain reserve accounts as required by the Department and as further described in the Regulatory Agreementregulatory agreement. All withdrawals shall require prior written approval from the Department, as provided in the Regulatory Agreementregulatory agreement.
Appears in 3 contracts
Samples: General Terms and Conditions, General Terms and Conditions, General Terms and Conditions
Reserve Accounts. The Sponsor shall must establish and maintain reserve accounts as required by the Department and as further described in the Regulatory Agreement. All withdrawals shall require prior written approval from the Department, as provided in the Regulatory Agreement. Reserve accounts do not need to be funded at any construction closing; but must be fully funded at the permanent loan closing.
Appears in 1 contract
Samples: General Terms and Conditions
Reserve Accounts. The Sponsor shall establish and maintain reserve accounts as required by applicable law, the Department and as further described in the Regulatory Agreement. All withdrawals shall require prior written approval from the Department, as provided in the Regulatory Agreement.Agreement.
Appears in 1 contract
Samples: Ahsc Program Terms and Conditions
