Addition Credits Investment Entity Sample Clauses

Addition Credits Investment Entity. Authority eloper icipates Entity as Tax that one of the limited partner(s) to be added to Developer’s limited partnership entity will be the Investor Limited Partner for the Project. As of the Date of Agreement, Developer has not solicited bids for or selected its Investor Limited Partner for the Project. In this regard, Developer agrees that as a Condition Precedent to the Closing, it shall use best efforts to solicit not fewer than three (3) and use best efforts to obtain not fewer than two (2) competitive bids from prospective, qualified Investors Limited Partners for the Project. After such competitive bidding, Developer shall provide to Au Par documents necessary to review and approve the Investor Limited this Agreement. l of Refinancing of Approva the requirements of t pursuant to tner for the Projec 704.4 thority Executive Director the Primary Loan. Authority Executive Director shall have the right to review all documents related to and to approve or disapprove any refinancing of the Primary Loan and, as and if applicable, the AHP Loan or any other debt secured by Developer’s ground leasehold interest in the Site, which refinancing will: (a) increase the interest rate applicable to such debt, or (b) increase the outstanding principal amount of such debt, or (c) cause or require the release or withdrawal of cash or equity from any part of the Project, or (d) extend the term of repayment of such debt, or (e) otherwise increase the aggregate annual debt service payments on such loan. Authority Executive Director shall reasonably consider any such proposed refinancing based on an economic evaluation conducted by Authority’s economic consultant that analyzes the effect of the proposed refinancing on (i) the availability of Net Voucher Income and Residual Receipts to repay the Authority Subordinate Loan, (ii) the availability of Cost Savings pursuant to Section 311, and (iii) the ability of Developer to repay in full the Primary Loan and any other debt or other liens against the Site as such payment becomes due. In the event Developer refinances either or both Primary Loan(s) (or other debt), subject to and with Authority approval, and Developer withdraws equity from the Project, any Refinancing Net Proceeds shall be split between Authority and Developer in the same manner as Residual Receipts (eighty-five percent (85%) to Authority and fifteen percent (15%) to Developer).
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Related to Addition Credits Investment Entity

  • Investment of Contributions At the direction of the Designated Beneficiary (or the direction of the Depositor or the Responsible Individual, whichever applies) the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a custodial account investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Designated Beneficiary (or the Depositor or Responsible Individual), and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Designated Beneficiary.

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  • Negotiated Funding Amount, Board Contributions 4.1.1 Each Board shall pay an amount equal to 1/12th of the annual negotiated funding amount as described in 4.1.2 and 4.1.3 to the Trustees of the ETFO ELHT by the last day of each month from and after the Board’s Participation Date.

  • Commingling, Exchange and Investment of the Contributions 2.1. The Contributions shall be accounted for as a single trust fund and shall be kept separate and apart from the funds of the Bank. The Contributions may be commingled with other trust fund assets maintained by the Bank.

  • Previous Investments This Agreement shall also apply to investments made before its entry into force by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the latter's laws and regulations.

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