Debt Service Payments. The State will request funds two weeks in advance of the bond payment. This early drawdown has been approved by the Federal Highway Administration (FHWA). The request of funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the debt service payments of GARVEE bonds issued by the Idaho Housing and Finance Association. This funding technique is interest neutral. Weekly Billing - ITD The State shall request funds once a week at the same time funds are requested for composite clearance pattern. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of actual costs recorded since the last request for funds as the components become billable. This funding technique is interest neutral.
Debt Service Payments i. The Xxxxxx Parties hereby represent and warrant that all Debt Service Payments made to, or for the benefit of, the Xxxxxx Parties on account of the Category 1 Loans from and including September 15, 2008 through the Execution Date shall constitute Category 1 Loan Cash at the Initial Closing.
ii. The LBB InsAdmin hereby represents and warrants that all Debt Service Payments made to, or for the benefit of, the LBB InsAdmin on account of the Category 2 Loans and the Repaid Category 2 Loans from and including November 13, 2008 through the Execution Date shall constitute Category 2 Loan Cash at the applicable Closing.
iii. The Parties hereby agree that (i) all Debt Service Payments made to, or for the benefit of, the Xxxxxx Parties on account of the Category 1 Loans from the Execution Date through the Initial Closing Date shall be segregated and shall constitute Category 1 Loan Cash at the Initial Closing, (ii) all interest payments made on account of the M-Loans that have become, or may become, due and payable prior to the applicable Closing Date, regardless of when such payments are actually made (the “M-Interest Payments”), shall be segregated, and the LBB InsAdmin shall be entitled to retain and receive all M-Interest Payments in their entirety, and the Xxxxxx Parties shall promptly transfer to the LBB InsAdmin any M-Interest Payments upon receipt, and if there are any outstanding M- Interest Payments following the Closing of the M-Loans, the Xxxxxx Parties shall use reasonable efforts to claim such outstanding M-Interest Payments from the borrower after the applicable Closing Date and any payments made by the borrower on account of the M-Loans after the applicable Closing Date shall be applied in accordance with the terms and conditions of the Loan Documents relating to the M-Loans, (iii) all Debt Service Payments made to, or for the benefit of, the LBB InsAdmin on account of the Category 2 Loans and the Repaid Category 2 Loans from the Execution Date through the applicable Closing Date shall be segregated and shall constitute Category 2 Loan Cash at the applicable Closing, and (iv) the respective Category 1 Loan Holders and/or Category 1 Loan Transferees, Category 2 Loan Transferees and Category 4 Loan Transferees shall be entitled to any and all Debt Service Payments made on account of any Category 1 Loan, Category 2 Loan or Category 4 Loan (excluding any M-Interest Payments), respectively, on and after the applicable Closing Date, without regard to wh...
Debt Service Payments. Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan from the Closing Date through and including the last day of the month in which the Closing Date occurs (unless the Closing Date is the first (1st) day of the month, in which case no such interest only payment shall be due), and (b) on each Payment Date thereafter up to and excluding the Maturity Date, Borrower shall make a payment to Lender in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance, if any, to principal.
Debt Service Payments. (a) During the term of this Note, beginning no later than March 1st of each year and until the earlier of (i) the Maturity Date, or (ii) the date on which this Note is converted by the Holders into the Conversion Ownership Percentage (as defined herein) pursuant to the terms of SECTION 4 hereof, or (iii) the date on which this Note is fully prepaid pursuant to SECTION 2 hereof, or (iv) the date on which this Note is terminated by the Company pursuant to the terms of SECTION 5 hereof, there shall be calculated by the Company a payment from the Company to the Holders of an amount initially equal to 19.9%, subject to adjustment from time to time in accordance with SECTIONS 4(b) and (c) (the "PAYMENT PERCENTAGE"), of the Company's "Net Distributable Profits" (as defined herein) for the prior calendar year, which payment shall become due and payable no later than April 15 in each year in which that particular year's Payment Percentage shall be calculated, unless extended by consent of the Holders, which consent shall not be unreasonably withheld. In no event shall the Payment Percentage made pursuant to this SECTION 3(a) FALL BELOW 1% OF THE COMPANY'S Net Distributable Profits.
(b) The payments set forth in SECTION 3(a) shall be applied first to accrued interest as of the due date of such payment and then to the principal amount of this Note.
(c) As used in SECTION 3(a), "NET DISTRIBUTABLE PROFITS" means total revenue MINUS:
Debt Service Payments. (a) In consideration of the application of the proceeds of the 2005 Series A Bonds in accordance with Article 4 hereof, the Company shall pay to the County moneys at times and in amounts sufficient to provide for the payment when due of the principal of, and premium, if any, and interest on, the 2005 Series A Bonds. To evidence its obligation to make such payments, the Company, concurrently with the issuance and delivery by the County of the 2005 Series A Bonds, shall issue and deliver to the County the Note. Upon its receipt of the Note, the County shall endorse the Note to the Trustee. After such assignment by the County to the Trustee, the Note shall not be transferable by the Trustee, except to a successor Trustee in accordance with the terms of the Indenture, and shall be held by the Trustee as security for the payment of the principal of, and redemption premium, if any, and interest on, the 2005 Series A Bonds.
(b) If the Company does not intend, or will be unable, to make any payment on the Note when due, the Company shall provide prompt written notice of such intent or inability to the Trustee and the Bond Insurer or its designee at least two (2) Business Days prior to the date such payment is due.
(c) Any amounts on deposit in the Interest Account of the Bond Fund established under the Indenture at the close of business on the Business Day immediately preceding each Interest Payment Date or any other date on which interest on the 2005 Series A Bonds shall become due shall be credited against payments of interest coming due on such payment date that otherwise would be payable under the terms of Section 5.01(a) hereof and the Note. Any amounts on deposit in the Principal Account of the Bond Fund established under the Indenture at the close of business on the Business Day immediately preceding the maturity date for the 2005 Series A Bonds or any other date on which principal of the 2005 Series A Bonds shall come due shall be credited against payments of principal coming due on such payment date that otherwise would be payable under the terms of Section 5.01(a) hereof and the Note.
(d) Payment of the principal of, and premium, if any, and interest on, the 2005 Series A Bonds will be payable solely from the Trust Estate pledged therefor pursuant to the Indenture.
(e) Any payment by the Company of the principal or prepayment price of, or interest on, the Note shall be held by the Trustee and, except as provided in Section 10.04 of the Indenture, applied...
Debt Service Payments. Any Net Tax Increment Revenues shall be promptly disbursed to the DDA each fiscal year after its contractual debt service obligations have been satisfied. The DDA’s contractual obligation to contribute Net Tax Increment Revenues to the City to fund the Parking Project DDA Deficiency Payments shall not constitute a third party guaranty of the Revenue Bonds. In the event that the City shall for any reason be unable or fail to withhold from its collections of Tax Increment Revenues the amounts necessary to fund the 11 Mile Road Parking Project DDA Deficiency Payments, the DDA shall upon the City’s request immediately pay the amount of the 11 Mile Road Parking Project DDA Deficiency Payment to the City from other legally available Net Tax Increment Revenues of the DDA not currently required for current operation, maintenance and administrative expenses of the DDA and for the Prior 2016 DDA Debt Service Payments and LTGO Project DDA Debt Service Payments, or to fund reimbursements to the City relating to such payments. In the absence of such payment by the DDA, the City shall have all rights and remedies provided by law to enforce the obligations of the DDA hereunder.
Debt Service Payments. Electricity for which any tenant is separately metered or submetered and pays Landlord or Utility provider directly.
Debt Service Payments. For any period, all Interest Charges and regularly scheduled principal payments on any Indebtedness of Borrower and its subsidiaries (other than NVRMF and its Subsidiaries), net of balloon payments as determined in accordance with GAAP.
Debt Service Payments. Notwithstanding the above, for any payments made by the Companies, or any one of them, toward the Outstanding Indebtedness other than in connection with a Capital Lease (“Debt Service Payments”) are made between the Effective Date and the date immediately preceding the Closing Date, (i) to the extent any portion of such Debt Service Payments reduces the outstanding principal amount of the Outstanding Indebtedness, such portion of the Debt Service Payments shall be treated as a payment under Section 2.2(b)(i) above and (ii) to the extent any portion of such Debt Service Payments is to pay interest, such portion of the Debt Service Payments shall not be treated as a payment under Section 2.2(b)(i) above.
Debt Service Payments. Property Manager shall use efforts to pay monthly debt service payments no later than the due date.
