Alternate Issuance of TIF Indebtedness as Reimbursement Sample Clauses

Alternate Issuance of TIF Indebtedness as Reimbursement. Notwithstanding Section 502.A above, the Redeveloper may fund in full the TIF Priority Expenses in Section 503 below at Redeveloper’s own cost and expense and seek reimbursement as described below. No TIF Priority Expenses shall be deemed to have been funded by Redeveloper until Redeveloper shall have first submitted to the City evidence of the costs of the TIF Priority Expenses supported by receipts, invoices, proof of payment, or other documentation satisfactory to the City to verify the expenditures were for eligible costs for the TIF Priority Expenses and evidence that the Redeveloper has paid or caused to be paid all amounts lawfully due to all persons supplying or issuing Redeveloper, Redeveloper’s contractor, or his or hers subcontractors with labor or materials used in prosecution of the New Building, Redeveloper Public Improvements, and City Public Improvements, and that the City’s acceptance of the Redeveloper’s Certificate of Completion of Improvements has been executed by the City. The City shall approve or reject the same with reasons stated based upon review of the documents within thirty (30) days of receipt of the same. Upon completion of its review and approval and upon the request of the Redeveloper, the City shall issue a TIF Bond to Redeveloper in the principal aggregate amount of the approved TIF Priority Expenses as reimbursement to Redeveloper for funding such TIF Priority Expenses, but in no event shall the principal aggregate amount of the TIF Bond exceed $10,163,514, $10,921,514, or $11,663,514 depending upon which version of the New Building is constructed as provided in Section 502.A above. Thereafter, Debt Service for TIF Indebtedness and Tax Increment Deficiency on TIF Bond shall be governed by Sections 504 and 505.C below respectively.
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Related to Alternate Issuance of TIF Indebtedness as Reimbursement

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • CERTIFICATE OF INDEBTEDNESS A certificate signed by the officer of Maybank as to the monies for the time being due and owing to Maybank from the Cardmember shall be conclusive evidence or proof that the amount appearing therein is due and owing and payable by the Cardmember to Maybank.

  • Treatment of Indebtedness Failure of Licensee to satisfy the financial obligations of this License Agreement may result in one or more of the following:

  • Payment of Indebtedness Upon Demand The Customer shall at all times be liable for the payment upon demand of any obligations owing from the Customer to you, and the Customer shall be liable to you for any deficiency remaining in any such accounts in the event of the liquidation thereof (as contemplated in Paragraph 3 of this Agreement or otherwise), in whole or in part, by you or by the Customer; and the Customer shall make payment of such obligations upon demand.

  • Temporary Credit for Unamortized Specified Road Construction Cost When, under B8.33, Contracting Officer orders a delay or interruption of Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order, the Contracting Officer shall credit the unamortized cost of Specified Roads to Purchaser’s Timber Sale Account, upon the written request of Purchaser or at the discretion of Contracting Officer. The amount credited to Purchaser shall be limited to stumpage paid above Base Rates. Any Specified Road construction cost credited to Purchaser pursuant to this Subsection may be refunded or transferred at the request of Purchaser. However, if Purchaser has outstanding debt owing the United States, Contracting Officer must apply the amount of credit that could be refunded to the debt owed in accordance with the Debt Collection Improvement Act of 1996, as amended. Upon written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Purchaser shall pay for timber a per unit amount, in addition to Current Contract Rates, that is equal to the amount credited to Purchaser’s Timber Sale Account divided by 80 percent of the estimated remaining volume of the contract, until the full amount credited to Purchaser has been returned.

  • Non-Sufficient Funds and Dishonored Payments If my check is returned by a bank or other entity for any reason, if any of my credit card or debit card payments are rejected, or if Xxxxx Management is unable, through no fault of its own or their bank, to successfully process any of my ACH debit, credit card, or debit card transaction, then:

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

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