Unexpended Bond Proceeds Sample Clauses

Unexpended Bond Proceeds. Subject to the requirements of Section 5.2(b) hereof, moneys in the 2023 Series Q subaccount of the Acquisition Account that are not used to purchase 2023 Series Q Mortgage Loans, shall be withdrawn by the Trustee and transferred to the 2023 Series Q subaccounts of the Class I Special Redemption Account and the 2023 Series Q subaccount of the Class I Special Redemption Account, respectively, pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for any such purpose. Such amounts representing proceeds of the 2023 Series Q Bonds shall be transferred not later than October 1, 2024 and applied to the redemption of 2023 Series Q Bonds; provided, that if on the date of transfer, the amount to be withdrawn by the Trustee shall be less than $250,000, such amount shall be transferred on such date to the 2023 Series Q subaccount of the Revenue Fund rather than to the 2023 Series Q subaccount of the Class I Special Redemption Account; provided, however, that the date set forth above may be extended to a later date or dates as to all or any part of such moneys, if the Authority shall have filed with the Trustee, with a copy to Xxxxx’x, an Authority Request specifying such later date or dates for such withdrawal, accompanied by a Cash Flow Statement (unless the principal amount and term of such extension shall be covered by a previous Cash Flow Statement), in which case such withdrawal shall occur on the later specified date or dates. (End of Article V)
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Unexpended Bond Proceeds. Subject to the requirements of Section 5.2(b) hereof, moneys in the 2018 Series C subaccount of the Acquisition Account that are not used to purchase 2018 Series C Mortgage Loans shall be withdrawn by the Trustee and transferred to the 2018 Series C subaccount of the Class I Special Redemption Account pursuant to an Authority Request filed with the Trustee stating that the Authority no longer reasonably expects to apply the amount to be transferred for any such purpose, such amount to be transferred not later than [November 1, 2018]; provided, that if on the date of transfer, the amount to be withdrawn by the Trustee shall be less than $250,000, such amount shall be transferred on such date to the 2018 Series C subaccount of the Revenue Fund rather than to the 2018 Series C subaccount of the Class I Special Redemption Account; provided, however, that, subject to the Authority’s covenants in Section 6.17 of the Master Indenture and Section 6.5 of this Series Indenture, the date set forth above may be extended to a later date or dates not later than [March 1, 2022] as to all or any part of such moneys, if the Authority shall have filed with the Trustee, with a copy to Xxxxx’x and S&P, an Authority Request specifying such later date or dates for such withdrawal, accompanied by a Cash Flow Statement (unless the principal amount and term of such extension shall be covered by a previous Cash Flow Statement), in which case such withdrawal shall occur on the later specified date or dates.
Sample 1
Unexpended Bond Proceeds. If, upon completion of the Improvements as contemplated by the City and the County, any of the $1,000,000 transferred to the City is unexpended, then the City shall return all such unexpended bond proceeds to the County.
Sample 1
Unexpended Bond Proceeds. Should there remain any unspent Bond proceeds at the end of the 3 years from the Issue Date, the Borrower shall cause such unexpended funds to be applied to redeem the Bonds.
Sample 1

Related to Unexpended Bond Proceeds

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Gross Proceeds The aggregate purchase price of all Shares sold for the account of the Company through all Offerings, without deduction for Sales Commissions, volume discounts, any marketing support and due diligence expense reimbursement or Organization and Offering Expenses. For the purpose of computing Gross Proceeds, the purchase price of any Share for which reduced Sales Commissions are paid to the Dealer Manager or a Soliciting Dealer (where net proceeds to the Company are not reduced) shall be deemed to be the full amount of the offering price per Share pursuant to the Prospectus for such Offering without reduction.

  • Sale Proceeds The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Net Proceeds The Company will apply the net proceeds from the Offering and the sale of the Private Placement Warrants received by it in a manner consistent with the applications described under the caption “Use of Proceeds” in the Statutory Prospectus and the Prospectus.

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