Temporary Period Sample Clauses

Temporary Period. The Recipient reasonably expects that at least eighty-five percent (85%) of the Project Funds will be allocated to expenditures for the Project within three (3) years of the earlier of the effective date of this Agreement or the date the Bonds are issued ("Applicable Date"). The Recipient has incurred, or reasonably expects that it will incur within six (6) months of the Applicable Date, a substantial binding obligation (i.e., not subject to contingencies within the control of the Recipient or a related party) to a third party to expend at least five percent (5%) of the Project Funds on the costs of the Project. The completion of acquisition, construction, improvement and equipping of the Project and the allocation of Project Funds to expenditures for the Project will proceed with due diligence.

Temporary Period. The District reasonably expects that at least 85% of the Project Funds will be allocated to expenditures for the Project within 3 years of the earlier of the effective date of the SRF Loan Agreement or the date the Bonds (as defined in the SRF Loan Agreement) are issued ("Applicable Date"). The District has incurred, or reasonably expects that it will incur within 6 months of the Applicable Date, a substantial binding obligation (i.e., not subject to contingencies within the control of the District or a related party) to a third party to expend at least 5% of the Project Funds on the costs of the MST Project. The District reasonably expects that the completion of acquisition, construction, improvement and equipping of the MST Project and the allocation of Project Funds to expenditures for the MST Project will proceed with due diligence.

Temporary Period. 4.1. Lessee expects, within six months from the date hereof, (a) to have had disbursed from escrow an amount in excess of the lesser of 2 1/2% of the amount deposited in escrow by Lessor or $100,000, or (b) to enter into binding obligations with third parties obligating Lessee to spend such amount. 4.2. The ordering and acceptance of the items of Equipment will proceed with due diligence to the date of final acceptance of the Equipment. 4.3. The items of Equipment being acquired by Lessee will be delivered at various times from , to , . At least 15% of the amount deposited in escrow and interest earnings thereon will be used to pay the acquisition price of items of Equipment within six months from the date of issuance of the Financing Documents; at least 60% of the amount deposited in escrow and interest earnings thereon will be used to pay the acquisition cost of items of Equipment within 12 months from the date of issuance of the Financing Documents; and 100% of the amount deposited in escrow and interest earnings thereon will be used to pay the acquisition cost of items of Equipment prior to 18 months from the date of issuance of the Financing Documents. It is anticipated that all Equipment will be delivered and accepted, and all funds provided by Lessor and interest earnings thereon expended, prior to . 4.4. The total acquisition cost of the Equipment is not required to be paid to the vendors or manufacturers thereof until the Equipment has been accepted by Lessee.