Trust Disbursements Generally. Following receipt by the Trustee, on or after the [third] Business Day following the [22]nd day of the month in which a 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 Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse Account funds in an aggregate amount equal to the Adjusted Trust Disbursement Amount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof as follows (subject to the obligation of StadCo to fund any Cost Overruns):
Appears in 2 contracts
Samples: Construction Funds Trust Agreement, Construction Funds Trust Agreement
Trust Disbursements Generally. Following receipt by the Trustee, on or after the [third] third Business Day following the [22]nd 22nd day of the month in which a Master Application for Payment 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 Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse Account funds in an aggregate amount equal to the Adjusted Trust Disbursement Amount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof as follows (subject to the obligation of StadCo to fund any Cost Overruns):
Appears in 2 contracts
Samples: Construction Funds Trust Agreement, Construction Funds Trust Agreement
Trust Disbursements Generally. Following receipt by the Trustee, on or after the [third] Business Day following the [22]nd day of the month in which a Master Application for Payment 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 Funding Endorsements pursuant to the terms of the Disbursing Agreement, the Trustee shall disburse Account funds in an aggregate amount equal to the Adjusted Trust Disbursement Amount in accordance with the standing payment instructions of the Disbursing Agent received pursuant to Section 3.4(a) hereof as follows (subject to the obligation of StadCo to fund any Cost Overruns):
Appears in 1 contract
Samples: Construction Funds Trust Agreement