Corporation To Provide Funds To Complete Project Sample Clauses

Corporation To Provide Funds To Complete Project. If the proceeds derived from the sale of the Bonds are not sufficient to pay in full the Costs of the Project, the Corporation shall pay or cause to be paid such moneys as are necessary to provide for payment in full of such Costs. The Corporation shall not be entitled to any reimbursement therefor from the Authority or the Trustee nor shall the Corporation be entitled to any abatement, diminution or postponement of its payments hereunder or under the Note. In no event shall the Authority be responsible or liable for the payment of any such excess costs. The Corporation shall not permit any changes to the plans and specifications governing the improvement and construction of the Project that would increase the Costs of the Project by more than an aggregate amount of $300,000 unless it demonstrates to the satisfaction of the Trustee that funds are available to the Corporation to pay the increased costs.
Sample 1
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Corporation To Provide Funds To Complete Project. .... 9 Section 3.5. Limitation of Authority's Liability...................... 10 Section 3.6.
Sample 1
Corporation To Provide Funds To Complete Project. If the proceeds derived from the sale of the Bonds are not sufficient to pay in full the Costs of the Project, the Corporation shall pay or cause to be paid such moneys as are necessary to provide for payment in full of such Costs. The Corporation shall not be entitled to any reimbursement therefor from the Authority or the Trustee nor shall the Corporation be entitled to any abatement, diminution or postponement of its payments hereunder or under the Note. In no event shall the Authority be responsible or liable for the payment of any such excess costs. The Corporation shall not permit any changes to the plans and specifications governing the improvement and construction of the Lebanon Project that would increase the Costs of the Project by more than an aggregate amount of $900,000 unless it demonstrates to the satisfaction of the Trustee that funds are available to the Corporation to pay the increased costs. The proceeds of the Xxxxxxx Issuer Loan and the Xxxxxxx Borrower Loan have been used by the Corporation and the Companies to finance certain portions of the Cost of the Project. On the date that the Bonds are issued, $100,000 of the proceeds of the Bonds will be applied to the prepayment in full of the outstanding principal balance of the Xxxxxxx Issuer Loan. On the date that the Bonds are issued, the Corporation will pay from its own assets (or cause the Companies to pay from their own assets) to the holders of the Xxxxxxx Issuer Loan an amount equal to the accrued and unpaid interest on the Xxxxxxx Issuer Loan to such date and will take all other actions necessary to cause the Xxxxxxx Issuer Loan to be paid in full as of such date.
Sample 1

Related to Corporation To Provide Funds To Complete Project

  • Obligation to Provide Information Each party’s obligation to provide information shall be as follows:

  • Covenant to Provide Financial Information and Maintain Sufficient Capital The Administrator shall obtain and maintain the necessary capital to fulfill its obligations under this Agreement and shall remain solvent. The Administrator will report to the Issuer on a semi-annual basis its current and total assets, current and total liabilities, and total equity and the Company intends to include such amounts in its SEC reports.

  • Shareholder Account Maintenance a. Maintain all shareholder records for each account in the Trust.

  • Reimbursement of General Partner (a) Except as provided in this Section 6.5 and elsewhere in this Agreement (including the provisions of Articles 5 and 6 regarding distributions, payments, and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

  • Distribution to Lenders Upon the Administrative Agent’s receipt of payments hereunder, the Administrative Agent shall immediately distribute to each Lender or the applicable LC Issuer, as the case may be, its ratable share, if any, of the amount of principal, interest, and Fees received by it for the account of such Lender. Payments received by the Administrative Agent in Dollars shall be delivered to the Lenders or the applicable LC Issuer, as the case may be, in Dollars in immediately available funds; provided, however, that if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, Unpaid Drawings, interest and Fees then due hereunder then, except as specifically set forth elsewhere in this Agreement and subject to Section 8.03, such funds shall be applied, first, towards payment of interest and Fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and Fees then due to such parties, and second, towards payment of principal and Unpaid Drawings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and Unpaid Drawings then due to such parties.

  • Information Systems Acquisition Development and Maintenance a. Client Data – Client Data will only be used by State Street for the purposes specified in this Agreement.

  • No Joint Assessment; Separate Lots Borrower has not suffered, permitted or initiated the joint assessment of the Mortgaged Property (i) with any other real property constituting a separate tax lot, and (ii) with any portion of the Mortgaged Property which may be deemed to constitute personal property, or any other procedure whereby the lien of any taxes which may be levied against such personal property shall be assessed or levied or charged to the Mortgaged Property as a single lien. The Mortgaged Property is comprised of one or more parcels, each of which constitutes a separate tax lot and none of which constitutes a portion of any other tax lot.

  • Agreement to Provide Services Xxxxxxx Sachs hereby engages the Contract Underwriter, and the Contract Underwriter hereby agrees, to provide the following Services: (a) establish and maintain (or assist the Company in establishing and maintaining) relationships with owners of Contracts who are its customers or customers of other broker-dealers with whom it has entered into agreements to sell the Contracts (“Selling Dealers”); (b) provide Contract owners with “personal services” (within the meaning of NASD Conduct Rule 2830(b)(9)); (c) assist in the preparation of advertisements and other sales literature for the Contracts that describes or discusses the Funds; (d) provide sales compensation to representatives of the Contract Underwriter; (e) pay money to Selling Dealers for any of the foregoing purposes; and (f) perform any additional services primarily intended to result in the distribution of the Contracts and the sale of the Service Shares to the Company.

  • Company to Provide Stock The Company shall reserve, free from preemptive rights, out of its authorized but unissued shares, sufficient shares to provide for the conversion of convertible Securities from time to time as such Securities are presented for conversion, provided, however, that nothing contained herein shall be construed to preclude the Company from satisfying its obligations in respect of the conversion of Securities by delivery of repurchased shares of Common Stock which are held in the treasury of the Company. If any shares of Common Stock to be reserved for the purpose of conversion of Securities hereunder require registration with or approval of any governmental authority under any Federal or State law before such shares may be validly issued or delivered upon conversion, then the Company covenants that it will in good faith and as expeditiously as possible endeavor to secure such registration or approval, as the case may be; provided, however, that nothing in this Section 1708 shall be deemed to affect in any way the obligations of the Company to convert Securities into Common Stock as provided in this Article Seventeen. Before taking any action which would cause an adjustment reducing the Conversion Price below the then par value, if any, of the Common Stock, the Company will take all corporate action which may, in the opinion of counsel, be necessary in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock at such adjusted Conversion Price. The Company covenants that all shares of Common Stock which may be issued upon conversion of Securities will upon issue be fully paid and non-assessable by the Company and free of preemptive rights.

  • Initial Advance to Each Designated Subsidiary The obligation of each Lender to make an initial Advance to each Designated Subsidiary is subject to the receipt by the Agent on or before the date of such initial Advance of each of the following, in form and substance reasonably satisfactory to the Agent and dated such date:

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