Charter School Debt Clause Samples

Charter School Debt. The Charter School is solely responsible for all debt it

Charter School Debt. Debt of Equi-Mor owed to U.S. Bancorp ------------------- Investments, Inc. (or its successor or assignee), on a short-term basis for financing charter-school leases or loans until they can be sold in the secondary market, for which Borrower has no direct or contingent liability; provided, however, that if Borrower is either directly or contingently liable, the amount of such Debt may not exceed the lesser of either (i) 10% of Borrower's Net Worth or (ii) $5,000,000.

Charter School Debt. Pursuant to La. R.S. § 17:3993, Charter School is solely responsible for all debt it incurs, and JPSB shall not be contractually bound on Charter School’s account to any third party. A statement to this effect shall be a provision of any and all contracts entered into by Charter School.

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Authorizer shall not be contractually bound on the Charter School’s account to any third party. The Authorizer shall not be liable in any instance for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts. The Charter School shall notify the Authorizer immediately of a default on any obligation owed to the Authorizer, which shall include debts for which payments are past due by sixty (60) days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § ▇▇-▇▇-▇▇▇, the Authorizer may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Authorizer must be satisfied prior to release of the last annual payment.