Draw Down Agreement Sample Clauses

Draw Down Agreement. (a) This Lease Agreement is a draw down agreement. The total principal amount of this Lease Agreement is hereby expressly limited to $3,828,283 (the “Authorized Amount”), provided that the principal component of the Lease Payments at any time shall include only those portions of the principal component of Lease Payments that have been advanced from time to time by the Assignee. The Assignee shall fund the purchase price of the principal component of the Lease Payments as requested by the Office from time to time pursuant to the submittal by the District of an advance request, but not more frequently than twice a month, substantially in the form attached hereto as Exhibit C, approved by the Assignee. Such funded amount shall be transferred pursuant to wire instructions provided by the District to the Assignee, (i) for deposit in an account designated by the District for the payment of costs of the Project, or (ii) in reimbursement of previously expended costs of the Project. Amounts required to pay costs of the Project shall be paid by the District. Following each such draw-down, the aggregate principal component of Lease Payments shall be deemed outstanding and such amount so drawn down shall begin to accrue interest. The first draw-down, on the Closing Date, shall be the amount set forth in Section 3.2. If the total amount drawn is insufficient for the District to complete the Project, the District shall advance its own funds to assure such completion. Any draws shall reduce the Authorized Amount and no amounts drawn may be re- drawn for any purpose.
Sample 1
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Draw Down Agreement. (a) This Lease Agreement is a draw down agreement. The total principal amount of this Lease Agreement is hereby expressly limited to $30,000,000 (the “Authorized Amount”), provided that the principal component of the Lease Payments at any time shall include only those portions of the principal component of Lease Payments that have been advanced from time to time by the Authority. The Authority shall permit the City to hold the Authorized Amount in a separately designated fund for the purposes of this Lease Agreement, and the Lease Payments will be payable first from interest earnings on the amounts deposited in the separate fund and then from amounts budgeted and appropriated pursuant to Section 4.03 hereof. Amounts required to pay costs of the Project shall be paid by the City from the Authorized Amount. Following each such draw-down, the aggregate principal component of Lease Payments shall be deemed outstanding and such amount so drawn down shall begin to accrue interest. If the total amount drawn is insufficient for the City to complete the Project, the City shall advance its own funds to assure such completion. Any draws shall reduce the Authorized Amount and no amounts drawn may be re-drawn for any purpose. If the City has not incurred enough costs to cover such draw request, the proceeds funded through the draw request will be used by the City to cover the principal portion of the Lease Payment.
Sample 1

Related to Draw Down Agreement

  • NEGOTIATION OF A SUBSEQUENT AGREEMENT The parties agree to commence negotiations for a new collective agreement to succeed this Agreement at least 3 months before the nominal expiry date. The parties intend to conclude these negotiations prior to the nominal expiry date. These negotiations shall be conducted on a collective basis between the parties with the negotiated outcome being subject to approval of a vote of the employees collectively.

  • Indemnity for Underlying Sales and Supplemental Agreements Vendor shall be solely responsible for any customer claims or any disputes arising out of TIPS Sales or any Supplemental Agreement as if sold in the open-market. The Parties agree that TIPS shall not be liable for any claims arising out of Vendor’s TIPS Sales or Supplemental Agreements, including but not limited to: allegations of product defect or insufficiency, allegations of service defect or insufficiency, allegations regarding delivery defect or insufficiency, allegations of fraud or misrepresentation, allegations regarding pricing or amounts owed for TIPS sales, and/or allegations regarding payment, over-payment, under-payment, or non-payment for TIPS Sales. Payment/Drafting, overpayment/over-drafting, under- payment/under-drafting, or non-payment for TIPS Sales between customer and Vendor and inspections, rejections, or acceptance of such purchases shall be the exclusive respective obligations of Vendor/Customer, and disputes shall be handled in accordance with the terms of the underlying Supplemental Agreement(s) entered into between Vendor and Customer. Vendor acknowledges that TIPS is not a dealer, subcontractor, agent, or reseller of Vendor’s goods and services and shall not be responsible for any claims arising out of alleged insufficiencies or defects in Vendor’s goods and services, should any arise.

  • WHOLE AGREEMENT The General Provisions, Special Provisions, and Attachments, as provided herein, constitute the complete Agreement (“Agreement”) between the parties hereto, and supersede any and all oral and written agreements between the parties relating to matters herein. Except as otherwise provided herein, this Agreement cannot be modified without written consent of the parties.

  • Payment Agreement The agreement between you and Barracudas begins at the point where a payment is made, whether in part or full, and is when these booking conditions apply from. This agreement is with you, as the person who made the booking, and you are responsible for ensuring any parent/carer relating to this booking are aware of, and accept, these booking conditions.

  • WRITTEN AGREEMENT 4. All insurance policies required by this Contract shall waive all rights of subrogation against the County of Orange, its elected and appointed officials, officers, employees and agents when acting within the scope of their appointment or employment.

  • Negotiated Agreement This Agreement has been arrived at through negotiation between the parties. Neither party is the party that prepared this Agreement for purposes of construing this Agreement under California Civil Code section 1654.

  • Agreement; Amendment If either party hereto requests to amend this agreement, it shall notify the other party in writing, and the other party shall respond within one week. All amendments of this agreement must be made in writing by both parties, and such amendments shall be deemed as inseverable parts of this agreement.

  • Term of the Agreement 2.1 The term of this Agreement shall be three years, beginning on the Effective Date and shall apply to the BellSouth territory in the state(s) of Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. Notwithstanding any prior agreement of the Parties, the rates, terms and conditions of this Agreement shall not be applied retroactively prior to the Effective Date.

  • Termination Amendment and Waiver 46 7.1 Termination....................................................................................46 7.2

  • PROVISIONS OF THIS AGREEMENT APPLICABLE ALLOTTEE/ SUBSEQUENT ALLOTTEES It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the said Apartment/ Plot and the Project shall equally be applicable to and enforceable against and by any subsequent Allottee of the Apartment/ Plot, in case of a transfer, as the said obligations go along with the Apartment/ Plot for all intents and purposes.

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