Project Cost Overruns. In the event that the Project Costs set forth in the Construction Budget exceed the amount of proceeds available from the Series 2023 Bonds (a “Cost Overrun”), such Purchaser shall have received satisfactory evidence that the Manager has funded the Construction Account in immediately available funds from the proceeds of a Debt Service Loan and applied such funds to pay any such Cost Overruns of the Project prior to any additional funds being drawn under the Series 2023[●] Bonds.
Appears in 2 contracts
Sources: Revolving Bond Purchase Agreement, Revolving Bond Purchase Agreement