Surplus Bond Proceeds definition

Surplus Bond Proceeds means all moneys and any unliquidated investments remaining in the Bond Proceeds Account or the Capitalized Interest Account of the Project Fund upon Final Completion and after payment in full of the Project Costs (except for proceeds of the Bond being retained to pay for Project Costs not then due and payable for which the Trustee shall have retained amounts pursuant to the Loan Agreement).
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Surplus Bond Proceeds means all moneys and any unliquidated investments remaining in the Project Fund on the Completion Date and after payment in full of the Costs of the Project (except for costs not then due and payable for which the Trustee shall have retained amounts pursuant to the Agreement).
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Surplus Bond Proceeds means all moneys and any unliquidated investments remaining in the Bond Proceeds Account of the Project Fund, but not sooner than Stabilization and after payment in full of the Project Costs (except for proceeds of the Bond being retained at the written direction of the Controlling Person).
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Examples of Surplus Bond Proceeds in a sentence

  • To the extent that Surplus Bond Proceeds are deposited in the Bond Fund after the third anniversary of the Issue Date, the Borrower shall instruct the Trustee to invest such proceeds in a manner permitted by Section 148 of the Code so that the yield on such investments will not exceed the yield on the Bonds or, in the opinion of Bond Counsel, will not impair the exclusion of interest on the Bonds from gross income for federal income tax purposes.

  • All Surplus Bond Proceeds transferred to the Bond Fund pursuant to the provisions of Section 5.4 hereof shall be applied by the Trustee to reimburse the Bank to the extent of any drawing on the Letter of Credit in connection with an optional redemption of Bonds as set forth in Section 217(a) of the Indenture.

  • If the Obligor shall elect to deposit such proceeds in the Surplus Bond Proceeds Account in the Bond Fund, such proceeds shall be used to redeem the Bonds to the extent of such proceeds in the manner provided in the Indenture and in the Bond Forms Appendix under Mandatory Redemption from Surplus Bond Proceeds.

  • In addition, at the direction of the Bank, Surplus Bond Proceeds held in the Bond Fund shall be paid by the Trustee to the Bank to the extent of any moneys owing under the Reimbursement Agreement as a result of a drawing on the Letter of Credit to pay principal, interest or premium on the Bonds.

  • All moneys deposited in the Project Fund and not needed, as of the Completion Date, to pay or reimburse Project Costs (which money shall be used for such purposes if needed), shall, upon receipt of such certificate, and in any event on the third anniversary hereof be deemed Surplus Bond Proceeds and shall be immediately transferred to the Bond Fund to be applied by the Trustee in the manner provided in Section 4.4 of this Agreement.

  • In no event shall Surplus Bond Proceeds so transferred to the Bond Fund or the investment income thereon be used to pay interest on the Bonds.

  • All moneys deposited in the Project Fund and not needed, as of the Completion Date, to pay or reimburse Project Costs (which moneys shall be used for such purposes if needed), shall, upon receipt of such certificate, and in any event on the third anniversary hereof, be deemed Surplus Bond Proceeds and shall be immediately transferred to the Bond Fund to be applied by the Trustee in the manner provided in Section 4.4 of this Agreement.

  • All Surplus Bond Proceeds shall be transferred to the Bond Fund to be applied by the Trustee in the manner provided in Section 11.1 hereof.

  • In addition, at the direction of the Borrower and with the written consent of the Bank, Surplus Bond Proceeds held in the Current Account of the Bond Fund shall be paid by the Trustee to the Bank to the extent of any moneys owing under the Reimbursement Agreement as a result of a drawing on the Letter of Credit to pay principal (but not interest) on the Bonds.

  • All Bond proceeds remaining in the Construction Fund after the earlier of the Completion Date or August 12, 2001 shall be treated as Surplus Bond Proceeds and transferred to the Bond Fund to be applied by the Trustee in the manner provided in Section 11.1 hereof.


More Definitions of Surplus Bond Proceeds

Surplus Bond Proceeds means all moneys and any unliquidated investments remaining in the Project Fund on the Completion Date and after payment in full of the Costs of
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Surplus Bond Proceeds means all moneys transferred from the Project Fund to the Bond Fund after the Completion Date pursuant to Section 5.4 of the Loan Agreement and any investment earnings thereon.
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Related to Surplus Bond Proceeds

  • Qualified Proceeds means the fair market value of assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business.

  • Surplus Cash means, with respect to any period, any revenues of Borrower remaining after paying, or setting aside funds for paying, all the following:

  • Escrowed Proceeds means the proceeds from the offering of any debt securities or other Indebtedness paid into an escrow account with an independent escrow agent on the date of the applicable offering or Incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow account upon satisfaction of certain conditions or the occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow.

  • Surplus Fund means the fund by that name established pursuant to the Second Resolution.

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Cash Proceeds means proceeds that are money, checks, deposit accounts, or the like.

  • Declined Proceeds has the meaning assigned to such term in Section 2.11(b)(v).

  • Net Cash Proceeds with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys' fees, accountants' fees, underwriters' or placement agents' fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.