Examples of Project Fund in a sentence
On the date of filing the Certificate of Completion, as indicated therein, all excess moneys remaining in the Project Fund shall be transferred by the Trustee in accordance with Section 3.04 of the Trust Agreement.
Payment of the Project Costs and Delivery Costs shall be made from the moneys deposited with the Trustee in the Project Fund as provided in Section 3.1 hereof and Section 2.06 of the Trust Agreement, which shall be disbursed in accordance and upon compliance with Article III of the Trust Agreement.
Moneys in the Project Fund, until applied in payment of any item of the cost of the Project in the manner hereinafter provided, shall be held in trust by the County and shall be subject to a lien and charge in favor of the Lender and for the further security of the Lender.
Each amount drawn shall be funded by the Lender within two Business Days of the date of the written request (as such date is calculated pursuant to this paragraph) into Project Fund described below.
In the event that there are not sufficient funds on deposit in the Bond Fund to pay interest until Project completion (whether because of construction delays or any other cause), the Trustee shall use funds on deposit in the Project Fund to pay interest on the due date; provided, however, that, notwithstanding the foregoing, in NO event shall bond proceeds be used to fund capitalized interest payments after February 1, 2027.