Verification, Submission and Payment from District Pledged Revenues on Deposit with the Escrow Agent Sample Clauses

Verification, Submission and Payment from District Pledged Revenues on Deposit with the Escrow Agent. To the extent that no District Bonds have been issued, Eligible Costs may be paid from District Pledged Revenues on deposit with the Escrow Agent in accordance with Section 4.7. In such event, each such payment request shall be submitted to the applicable District Representative, and the Escrow Agent, for review within ten (10) business days. Such review is for the purpose of verifying that the work represented in each payment request and supporting documentation complies with the requirements of this Agreement. Upon the earlier of approval of such documentation or expiration of the ten (10) business day period, the Escrow Agent will allocate the Eligible Costs to the Eligible Improvements according to the category for each listed in Exhibit C and compile an aggregate running total of Eligible Costs from District Pledged Revenues to the District or Developer as provided in this Agreement. So long as the payment request is properly certified according to this procedure, payment will be made within twenty (20) days of submission of the payment request. To the extent that no District Bonds have been issued, Town Costs in the maximum amount set forth in Section 4.3(b)(iii) may be paid from District Pledge Revenues on deposit with the Escrow Agent in accordance with Section 4.7. In the case of Town Costs, the Town Representative may submit a request for the payment of Town Costs to the District Representative and the Escrow Agent, for review within ten (10) business days. Such payment request shall include supporting documentation verifying that the Town has submitted the required supporting documentation. Upon the earlier of approval of such documentation or expiration of the ten (10) business day period, the Escrow Agent will pay or reimburse the Town for Town Costs from District Pledged Revenues on deposit with the Escrow Agent. To the extent that no District Bonds have been issued, Pre-Financing Costs in the maximum amount set forth in Section 4.3(b)(iv) may be paid from District Pledge Revenues on deposit with the Escrow Agent in accordance with Section 4.7. In the case of Pre-Financing Costs, the District or the Developer may submit a request for the payment of Pre-Financing Costs to the District Representative and the Escrow Agent, for review within ten (10) business days. Such payment request shall include supporting documentation verifying that the Developer or the District, as the case may be, has incurred such Pre-Financing Costs. Such review is for ...