Examples of Project Funds in a sentence
Within fifteen (15) days after receiving a disbursement request from Xxxxxx, Landlord shall reimburse Tenant to the extent of available NHCC Project Funds (each such funded reimbursement is referred to as a “Draw”).
In addition, Tenant may not request, and Landlord shall not be required to offer, any additional financing to Tenant for the NHCC Project pursuant to Section 6.5.7 of the Master Lease (i.e., the NHCC Project Funds are the only funds which will be made available by Landlord for the NHCC Project).
In no event shall Landlord be responsible for funding more than the NHCC Project Funds.
Further, Authority covenants and agrees to use the Project Funds (i) in strict conformance with the BEGIN Loan Program Guidelines, as may be amended from time to time, to enable the provision of down-payment assistance to qualified households, and (ii) in accordance with the Preliminary Funding Commitment Letter dated February 28, 2023.
The occurrence of an Event of Default by Authority that is not cured within the time set forth herein shall relieve City of any obligation to disburse the Project Funds.