Examples of Monthly Loan Deposit in a sentence
Any month in which the Project Sponsor fails to make a required Monthly Loan Deposit, the Project Sponsor’s chief financial officer shall notify the Department of such failure.
If for any reason construction is not completed as scheduled, there shall be no resulting diminution or delay in the Semiannual Loan Payment or the Monthly Loan Deposit.
The sixth Monthly Loan Deposit shall be at least equal to the amount required to make the total on deposit in the Loan Debt Service Account equal to the Semiannual Loan Payment amount, taking into consideration investment earnings credited to the account pursuant to Section 3.02.
The investment earnings shall be credited to the Loan Debt Service Account and applied toward the Monthly Loan Deposit requirements.