Examples of Funding Loan Proceeds in a sentence
The amounts on deposit in the Note Proceeds Account and the Remaining Funding Loan Proceeds Account of the Project Fund shall not be applied to the payment of Governmental Lender Closing Costs.
Not less than 95% of the moneys deposited in and credited to the Note Proceeds Account and the Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “95% Requirement”).
The amounts on deposit in the Tax-Exempt Governmental Lender Note subaccount of the Note Proceeds Account and the Remaining Funding Loan Proceeds Account of the Project Fund shall not be applied to the payment of Governmental Lender Closing Costs.
All proceeds of the Funding Loan provided by the Funding Lender shall be deposited to the applicable series subaccount of the Note Proceeds Account of the Project Fund; provided, however, that any proceeds of the Funding Loan funded pursuant to the Contingency Draw-Down Agreement shall be deposited to the Remaining Funding Loan Proceeds Account of the Project Fund and disbursed as herein provided.
Not less than 95% of the moneys deposited in and credited to the Tax-Exempt Governmental Lender Note subaccount of the Note Proceeds Account and the Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan evidenced by the Tax-Exempt Governmental Lender Note, including Investment Income thereon, will be expended for Qualified Project Costs (the “95% Requirement”).
Not less than 95% of the moneys deposited in the Note Proceeds Account and the Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan, including investment income thereon, will be expended for Qualified Project Costs (the “95% Requirement”).
The Fiscal Agent shall and is hereby authorized to transfer funds from the Capitalized Interest Account to the Funding Loan Fund to pay interest on the Funding Loan accruing up to and including: (i) the Completion Date with respect to amounts in the Funding Loan Proceeds Subaccount; and (ii) the Stabilization Date with respect to the Equity Subaccount without submission of any Requisition.
Not less than 97% of the moneys deposited in and credited to the Note Proceeds Account and Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “97% Requirement”).
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Establishment of Project Loan Fund; Application of Funding Loan Proceeds and Other Money.