Common use of Withdrawals upon Termination Clause in Contracts

Withdrawals upon Termination. 20.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: a) All Taxes due and payable by the Concessionaire for and in respect of the Project; b) Ninety per cent (90%) of the Debt Due including subordinate debt; c) Outstanding Project Consideration as per 20.3.1 (e); d) Retention and payments relating to the liability for defects and deficiencies; e) Outstanding Debt Service including the balance of Debt Due; f) Outstanding Subordinated Debt; g) Incurred or accrued O&M Expenses; h) All payments and damages certified by the Authority as due and payable to it by the Concessionaire; i) Any other payments required to be made under this Agreement; and j) Balance, if any, in accordance with the instructions of the Concessionaire. 4.1 until a Vesting Certificate has been issued by the Authority.

Withdrawals upon Termination. 20.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: a) All Taxes due and payable by the Concessionaire for and in respect of the Project; b) Ninety per cent (90%) of the Debt Due including subordinate debt; c) Outstanding Project Consideration as per 20.3.1 (e); d) Retention and payments relating to the liability for defects and deficiencies; e) Outstanding Debt Service including the balance of Debt Due; f) Outstanding Subordinated Debt; g) Incurred or accrued O&M Expenses; h) All payments and damages certified by the Authority as due and payable to it by the Concessionaire; i) Any other payments required to be made under this Agreement; and j) Balance, if any, in accordance with the instructions of the Concessionaire. 4.1 until a Vesting Certificate has been issued by the Authority. The provisions of this Article 20 and the instructions contained in the Escrow Agreement shall remain in full force and effect until the obligations set forth in Article 20.4.1 has been discharged.

Withdrawals upon Termination. 20.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: (a) All all Taxes due and payable by the Concessionaire for and in respect of the Project; (b) Ninety 90% (ninety per cent (90%cent) of the Debt Due including subordinate debt; (c) Outstanding outstanding Project Consideration as per 20.3.1 (ed); (d) Retention retention and payments relating to the liability for defects and deficiencies; (e) Outstanding outstanding Debt Service including the balance of Debt Due; (f) Outstanding outstanding Subordinated Debt; (g) Incurred or accrued O&M Expenses; (h) All all payments and damages certified by the Authority as due and payable to it by the Concessionaire; (i) Any any other payments required to be made under this Agreement; and (j) Balancebalance, if any, in accordance with the instructions of the Concessionaire. 4.1 . Provided that no appropriation shall be made under sub-clause (j) of this Article 20.4.1 until a Vesting Certificate has been issued by the Authority.