Unexpended Funds. Any Proceeds remaining unexpended in the Escrow Account after completion of the Project and after the final accounting has been submitted to and approved by the TWDB shall be disposed of pursuant to the provisions of the Grant Agreement. The County shall deliver a copy of such TWDB approval of the final accounting to the Escrow Agent together with instructions concerning the disbursement of unexpended Proceeds hereunder. The Escrow Agent shall have no obligation to ensure that such unexpended Proceeds are used as required by the provisions of the Grant Agreement, that being the sole obligation of the County.
Appears in 4 contracts
Samples: Flood Infrastructure Fund Contract, Flood Infrastructure Fund Contract, Escrow Agreement
Unexpended Funds. Any Proceeds remaining unexpended in the Escrow Account Account(s) after completion of the Project and after the final accounting has been submitted to and approved by the TWDB shall be disposed of pursuant to the provisions of the Grant Loan Forgiveness Agreement. The County shall deliver a copy of such TWDB approval of the final accounting to the Escrow Agent together with instructions concerning the disbursement of unexpended Proceeds hereunder. The Escrow Agent shall have no obligation to ensure that such unexpended Proceeds are used as required by the provisions of the Grant Loan Forgiveness Agreement, that being the sole obligation of the County.
Appears in 2 contracts
Samples: Loan Forgiveness Agreement, Escrow Agreement
Unexpended Funds. Any Proceeds remaining unexpended in the Escrow Account Account(s) after completion of the Project and after the final accounting has been submitted to and approved by the TWDB shall be disposed of pursuant to the provisions of the Grant Principal Forgiveness Agreement. The County shall deliver a copy of such TWDB approval of the final accounting to the Escrow Agent together with instructions concerning the disbursement of unexpended Proceeds hereunder. The Escrow Agent shall have no obligation to ensure that such unexpended Proceeds are used as required by the provisions of the Grant Principal Forgiveness Agreement, that being the sole obligation of the County.
Appears in 2 contracts
