Availability of Funds is Condition Precedent to Payment from Proceeds of District Bonds Sample Clauses

Availability of Funds is Condition Precedent to Payment from Proceeds of District Bonds. The obligation of the District to pay the Developer an Acquisition Amount from the proceeds of District Bonds for District Funded Public Improvements shall not arise until the issuance of District Bonds with proceeds sufficient to fund payment of the applicable Acquisition Amount. The foregoing condition shall not limit the ability of the District, in its sole discretion and as authorized under NMSA 1978, Sections 5-15-12 (2006), -15 (2009) and -17 (2006) and Section 1.7 of the City TIDD Application Guidelines, to pay from the collection of the Tax Increment Revenues, without the issuance of the District Bonds, all or a portion of the costs of the District, including administrative, formation, and amounts payable under one or more Subordinate Obligations. The City shall have no obligation to pay to the Developer any portion of an Acquisition Amount or satisfy any other financial obligation of the District under any circumstances, absent an express written agreement of the City.
Sample 1
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Availability of Funds is Condition Precedent to Payment from Proceeds of District Bonds. The obligation of the District to pay the Developer an Acquisition Amount from the proceeds of District Bonds for District Funded Public Improvements shall not arise until the issuance of District Bonds with proceeds sufficient to fund payment of the applicable Acquisition Amount. The foregoing condition shall not limit the ability of the District, in its sole discretion and as authorized under XXXX 0000, Sections 5-11-10 (2001) and -20 (2013) and Section 1(G) of the City PID Application Guidelines, to pay from the collection of the District Special Levy, without the issuance of the District Bonds, all or a portion of the costs of the District, including administrative and formation costs, and amounts payable under one or more Subordinate Obligations. The City shall have no obligation to pay to the Developer any portion of an Acquisition Amount or satisfy any other financial obligation of the District under any circumstances, absent an express written agreement of the City.
Sample 1
Availability of Funds is Condition Precedent to Payment from Proceeds of District Bonds. The obligation of the District to pay the Developer an Acquisition Amount from the proceeds of District Bonds for District Funded Public Improvements shall not arise until the issuance of District Bonds with proceeds sufficient to fund payment of the applicable Acquisition Amount. The foregoing condition shall not limit the ability of the District, in its sole discretion and as authorized under NMSA 1978, §§ 5-11-10 (2001) and -20 (2013) and §1(G) of the City PID Application Guidelines, to pay from the collection of the District Special Levy, without the issuance of the District Bonds, all or a portion of the costs of the District, including administrative and formation costs, and amounts payable under one or more Subordinate Obligations. The City shall have no obligation to pay any portion of an Acquisition Amount or any other financial obligation of the District in the event the proceeds of the District Bonds do not cover the entire cost of the District Funded Public Improvements, as described in the Plan of Finance.
Sample 1

Related to Availability of Funds is Condition Precedent to Payment from Proceeds of District Bonds

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • Repayment of Funds Unless Treasury extends the time period, a recipient shall repay to the Secretary any amounts subject to recoupment in accordance with instructions provided by Treasury:

  • Availability of Funds Unless Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date that such Lender does not intend to make available to Administrative Agent the amount of such Lender’s Loan requested on such Credit Date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such Credit Date and Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to Borrower a corresponding amount on such Credit Date. If such corresponding amount is not in fact made available to Administrative Agent by such Lender, Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the customary rate set by Administrative Agent for the correction of errors among banks for three Business Days and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the rate payable hereunder for Base Rate Loans for such Class of Loans. Nothing in this Section 2.5(b) shall be deemed to relieve any Lender from its obligation to fulfill its Term Loan Commitments and Revolving Commitments hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any default by such Lender hereunder.

  • Payment of Funds No federal appropriated funds have been paid or will be paid by or on behalf of the parties to any person for influencing or attempting to influence an officer or employee of any federal agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement.

  • Facility of Payment If a benefit is payable to a minor, to a person declared incompetent, or to a person incapable of handling the disposition of his or her property, the Company may pay such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Company may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely discharge the Company from all liability with respect to such benefit.

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