City Purpose Covenant Sample Clauses

City Purpose Covenant. (a) Funding Recipient shall make use of all City-Funded Equipment and City– Funded Vehicles to provide the services required by Section 4.01(b) below to the people of the City for a period commencing on the date that the City makes the first disbursement of the Funding and ending years from the date that the City makes the final disbursement of the Funding (the “Performance Term”), it being understood and agreed that the records maintained by the City regarding this Agreement shall be final and conclusive evidence as to the date that the City made the first and final disbursement of the Funding. [Note: DESCRIBE THE NOT-FOR- (b) Funding Recipient shall make use of all City-Funded Equipment and City– Funded Vehicles consistently, during its regular hours of operation as described in Section 4.03 below, for the duration of the Performance Term to: (c) The obligations contained in this Section shall be referred to as the “City Purpose Covenant.”
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City Purpose Covenant. Funding Recipient shall make use of each item of Eligible Equipment paid for or intended to be paid for with the proceeds of the Funding for a period of five (5) years from the later of the date hereof and the date each such item of Eligible Equipment is received by Funding Recipient (the “Performance Term”) to provide the following City services, and shall make such services generally available to City inhabitants on a not for profit basis: [Note: SPECIFY SERVICE BEING PROVIDED – THIS IS DIFFERENT FOR EACH ORGANIZATION]. For the duration of the Performance Term Funding Recipient shall take all actions necessary to ensure that such Eligible Equipment is used solely in accordance with the foregoing requirements, and shall not transfer ownership or control (by sale, lease or any other means) of any such Eligible Equipment to any Person, without the City’s prior written consent. (The obligations contained in this Section shall be referred to as the “City Purpose Covenant”). The Funding Recipient agrees to use the Eligible Equipment during standard business hours at least five (5) days a week from 9:00am to 5:00pm. [Note: Verify amount of use based on information provided in the Funding Recipient’s Application. The agency may only revise this requirement on a case-by-case basis.] The provisions of this Section shall survive the expiration or earlier termination of this Agreement, but will expire upon expiration of the Performance Term.
Sample 1
City Purpose Covenant. Funding Recipient shall make use of each item of Eligible Equipment and each Eligible Vehicle paid for or intended to be paid for with the proceeds of the Funding for a period of five (5) years from the later of the date hereof and the date each such item of Eligible Equipment and Eligible Vehicle is received by Funding Recipient (the “Performance Term”) to provide the following City services, and shall make such services generally available to City inhabitants on a not for profit basis: [Note: SPECIFY SERVICE BEING PROVIDED – THIS IS DIFFERENT FOR EACH ORGANIZATION]. For the duration of the Performance Term Funding Recipient shall take all actions necessary to ensure that such items of Eligible Equipment and Eligible Vehicles are used solely in accordance with the foregoing requirements, and shall not transfer ownership or control (by sale, lease or any other means) of any such items of Eligible Equipment and Eligible Vehicles to any Person, without the City’s prior written consent. (The obligations contained in this Section shall be referred to as the “City Purpose Covenant”). The Funding Recipient agrees to use the Eligible Equipment and each Eligible Vehicle during standard business hours at least five (5) days a week from 9:00am to 5:00pm. [Note: Verify amount of use based on information provided in the Funding Recipient’s Application. The agency may only revise this requirement on a case-by-case basis.] The provisions of this Section shall survive the expiration or earlier termination of this Agreement, but will expire upon expiration of the Performance Term.
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City Purpose Covenant. For a period of [five (5) for regular vehicles] [ten (10) for ambulances] years from the date that the last Vehicle paid for or intended to be paid for, directly or indirectly, with the proceeds of the Funding is delivered to Funding Recipient (the “Performance Term”), Funding Recipient shall continue to own and use all such Vehicle(s) for the benefit of the City to [
Sample 1
City Purpose Covenant. (a) Funding Recipient shall make use of all City-Funded Vehicles to provide the services required by Section 4.01(b) below to the people of the City for a period commencing on the date that the City makes the first disbursement of the Funding and ending years from the date that the City makes the final disbursement of the Funding (the “Performance Term”), it being understood and agreed that the records maintained by the City regarding this Agreement shall be final and conclusive evidence as to the date that the City made the first and final disbursement of the Funding. (b) Funding Recipient shall make use of all City-Funded Vehicles consistently, during its regular hours of operation as described in Section 4.03 below, for the duration of the Performance Term to: [Note: DESCRIBE NOT-FOR-PROFIT SERVICES TO BE PROVIDED WITH THE CITY-FUNDED VEHICLES.] (c)
Sample 1
City Purpose Covenant. For a period of [five (5) years for equipment] [five (5) years for regular vehicles] [ten (10) years for ambulances] [INSERT WHICHEVER IS LONGEST] years from the date that the last item of Equipment paid for or intended to be paid for, directly or indirectly with the proceeds of the Funding is installed and, if later, the date that the last Vehicle paid for or intended to be paid for, directly or indirectly, with the proceeds of the Funding is delivered to Funding Recipient (the “Performance Term”), Funding Recipient shall continue to own and use all such Equipment and Vehicle(s) for the benefit of the City to [SPECIFY SERVICE BEING PROVIDED–THIS IS DIFFERENT‌ FOR EACH ORGANIZATION]. Funding Recipient shall take all actions necessary to ensure that all such Equipment and Vehicle(s) are used solely in accordance with the foregoing requirements, and shall not transfer ownership or control (by sale, lease or any other means) of any such Equipment or Vehicles to any Person, without the City’s prior written consent (the obligations contained in this Section shall be referred to as the “City Purpose Covenant”). The provisions of this Section shall survive the expiration or earlier termination of this Agreement.
Sample 1
City Purpose Covenant. For a period of five (5) years from the date that the last item of Eligible Equipment paid for or intended to be paid for with the proceeds of the Funding is installed or otherwise received by Funding Recipient (the “Performance Term”), Funding Recipient shall make use of such Equipment to provide the following City services and shall make such services generally available to City inhabitants on a not for profit basis: [
Sample 1
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Related to City Purpose Covenant

  • Additional Negative Covenants Not to, without the Bank’s written consent: (a) Enter into any consolidation, merger, or other combination, or become a partner in a partnership, a member of a joint venture, or a member of a limited liability company. (b) Acquire or purchase a business or its assets. (c) Engage in any business activities substantially different from the Borrower’s present business. (d) Liquidate or dissolve the Borrower’s business.

  • Certain Financial Covenants In addition to the covenants described in Section 5.1 and Section 5.2, so long as any Commitment remains in effect, any Advance is outstanding or any amount is owing to any Lender hereunder or under any other Loan Document, the Borrower will perform and comply with each of the covenants set forth on Schedule VI.

  • Additional Covenant In Section 4 add a new paragraph as follows:

  • Certain Additional Covenants (a) Aradigm shall pay all royalties or other sums that Aradigm may owe to any THIRD PARTY by virtue of its activities under this Agreement, and shall perform and observe all of the other material obligations under all present and future agreements between Aradigm and any THIRD PARTY that are in any way related to Aradigm's ability to grant the rights Aradigm has granted to SB under this Agreement or to Aradigm's ability to perform its obligations to SB under this Agreement. In the event that Aradigm receives notice from any such THIRD PARTY that Aradigm has committed a breach of its obligations under any such agreement, or if Aradigm anticipates such breach, which breach may give rise to a right by such THIRD PARTY to terminate or materially diminish Aradigm's rights to PATENTS and/or INFORMATION in the FIELD licensed to Aradigm, which PATENTS and/or INFORMATION are sublicensed to SB hereunder, or otherwise to diminish materially Aradigm's ability to perform its obligations to SB under this Agreement, Aradigm shall immediately notify SB of such situation, and Aradigm shall promptly cure such breach. However, if Aradigm is unable to cure such breach, Aradigm shall, to the extent possible, permit SB to cure such breach on Aradigm's behalf. (b) SB shall pay all royalties or other sums that SB may owe to any THIRD PARTY by virtue of its activities under this Agreement, and shall perform and observe all of the other material obligations under all present and future agreements between SB and any THIRD PARTY that are in any way related to SB's ability to perform its obligations to Aradigm under this Agreement. In the event that SB receives notice from any such THIRD PARTY that SB has committed a breach of its obligations under any such agreement, or if SB anticipates such breach, which breach may give rise to a right by such THIRD PARTY to terminate or materially diminish SB's rights under such agreement or otherwise to diminish materially SB's ability to perform its obligations to SB under this Agreement, SB shall immediately notify Aradigm of such situation, and SB shall promptly cure such breach. However, if SB is unable to cure such breach, SB shall, to the extent possible, permit Aradigm to cure such breach on SB's behalf. (c) Aradigm agrees that Aradigm and its AFFILIATES shall not knowingly conduct any development work, either themselves or in conjunction with any other licensees or partners, on the AERx DEVICE or DRUG PRODUCTS for use outside the FIELD; provided that the foregoing shall not be interpreted to prevent Aradigm or its AFFILIATES or other licensees from developing other Aradigm pulmonary drug delivery products, including products based on the AERx design or technology, for use outside the FIELD and shall not limit Aradigm's rights under Section 2.9.

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

  • Additional Covenants The Company covenants and agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement:

  • Compliance Covenant The Company will not become a party to any Common Stock Change Event unless its terms are consistent with this Section 5.09.

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • Certain Negative Covenants So long as any Recovery Bonds are Outstanding, the Issuer shall not: (a) except as expressly permitted by this Indenture and the other Basic Documents, sell, transfer, exchange or otherwise dispose of any of the properties or assets of the Issuer, including those included in the Recovery Bond Collateral, unless directed to do so by the Indenture Trustee in accordance with Article V; (b) claim any credit on, or make any deduction from the principal or premium, if any, or interest payable in respect of, the Recovery Bonds (other than amounts properly withheld from such payments under the Code or other tax laws) or assert any claim against any present or former Holder by reason of the payment of the taxes levied or assessed upon any part of the Recovery Bond Collateral; (c) terminate its existence or dissolve or liquidate in whole or in part, except in a transaction permitted by Section 3.10; (i) permit the validity or effectiveness of this Indenture or the other Basic Documents to be impaired, or permit the Lien of this Indenture and the Series Supplement to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Recovery Bonds under this Indenture except as may be expressly permitted hereby, (ii) permit any Lien (other than the Lien of this Indenture or of the Series Supplement) to be created on or extend to or otherwise arise upon or burden the Recovery Bond Collateral or any part thereof or any interest therein or the proceeds thereof (other than tax liens arising by operation of law with respect to amounts not yet due), or (iii) permit the Lien of this Indenture or of the Series Supplement not to constitute a valid first priority perfected security interest in the Recovery Bond Collateral; (e) elect to be classified as an association taxable as a corporation for federal income tax purposes or otherwise take any action, file any tax return, or make any election inconsistent with the treatment of the Issuer, for purposes of federal taxes and, to the extent consistent with applicable State tax law, State income and franchise tax purposes, as a disregarded entity that is not separate from the sole owner of the Issuer; (f) change its name, identity or structure or the location of its chief executive office, unless at least ten (10) Business Days’ prior to the effective date of any such change the Issuer delivers to the Indenture Trustee (with copies to the Rating Agencies) such documents, instruments or agreements, executed by the Issuer, as are necessary to reflect such change and to continue the perfection of the security interest of this Indenture and the Series Supplement; (g) take any action which is subject to a Rating Agency Condition without satisfying the Rating Agency Condition; (h) except to the extent permitted by applicable law, voluntarily suspend or terminate its filing obligations with the SEC as described in Section 3.07(g); or (i) issue any recovery bonds under the Wildfire Financing Law or any similar law (other than the Recovery Bonds).

  • Separate Covenants The covenants of Part IX of this Agreement shall be construed as separate covenants covering their particular subject matter. In the event that any covenant shall be found to be judicially unenforceable, said covenant shall not affect the enforceability or validity of any other part of this Agreement. Employee Initials ____

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