Use of Project Funds. The Developer shall utilize all advances by the Lessor pursuant to the terms of this Agreement only for those items for which requisitions are permitted under this Agreement or for reimbursement of expenditures already made for items for which requisitions are so permitted. The Developer agrees to hold all advances by the Lessor hereunder as a trust fund for the purpose of payment of the costs and expenses permitted under this Agreement.
Appears in 2 contracts
Sources: Leasehold Improvement Agreement (Balanced Care Corp), Leasehold Improvement Agreement (Balanced Care Corp)