Common use of Trust Disbursements for Cost Overruns Clause in Contracts

Trust Disbursements for Cost Overruns. Following receipt by the Trustee, on or after the third Business Day following the 22nd day of the month in which a Funding Notice is submitted to the Trustee pursuant to Section 3.4(b) hereof, of a written notice from the Disbursing Agent that it is prepared to issue the applicable Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse any funds allocated for the payment of Cost Overruns from the StadCo Cost Overrun Subaccount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof.

Trust Disbursements for Cost Overruns. Following receipt by the Trustee, on or after the third [third] Business Day following the 22nd [22]nd day of the month in which a Funding Notice Master Application for Payment is submitted to the Trustee pursuant to Section 3.4(b) hereof, of a written notice from the Disbursing Agent that it is prepared to issue the applicable Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse any funds allocated for the payment of Cost Overruns from the StadCo Cost Overrun Subaccount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof.

Trust Disbursements for Cost Overruns. Following receipt by the Trustee, on or after the third [third] Business Day following the 22nd [22]nd day of the month in which a Funding Master Application for PaymentFunding Notice is submitted to the Trustee pursuant to Section 3.4(b) hereof, of a written notice from the Disbursing Agent that it is prepared to issue the applicable Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse any funds allocated for the payment of Cost Overruns from the StadCo Cost Overrun Subaccount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof.