Economic development loan Sample Clauses

Economic development loan. In March, 1994, PJFS of Mississippi, Inc. (“PJFS”) entered into an agreement for a $2.0 million economic development loan from the State of Mississippi in connection with the opening of a commissary in Jackson, Mississippi. The loan was funded by a bond issuance under the Mississippi Small Enterprise Development Finance Act. PJFS received the loan proceeds in February, 1995. Interest accrues on disbursed proceeds at a rate of 5.3%. PJFS is required to make semi-annual principal and interest payments to retire the loan by March 1, 2004. The current principal balance of the loan is $485,000.
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Economic development loan. Xxxxxxxx agrees to apply the proceeds of the Loan to the payment and/or reimbursement of the costs of the construction of the Project. Principal of the Loan shall bear interest of 1% per annum. The Loan is payable as to principal in-full on March 31, 2039 (the “Maturity Date”). Payment of principal of the Loan shall be made to the City of Marshalltown at the Office of the City Clerk, City Hall, 00 X Xxxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxx 00000-0000 by 12:00 p.m. on the Maturity Date. Principal of the Loan is subject to prepayment without penalty by the Borrower in any amount at any time. The Borrower agrees to execute and deliver to the Lender a Promissory Note (the “Note”) in substantially the form attached hereto as Exhibit B, in evidence of the Borrower’s obligation under this section. The Loan shall have such additional terms and conditions as provided for in the Note.
Economic development loan. The Lender hereby agrees to advance the proceeds of the Loan to Borrower in the amount of THREE HUNDRED TWENTY THOUSAND DOLLARS ($320,000) within ninety (90) days of the date of this Agreement.

Related to Economic development loan

  • Career Development The City and the Union agree that employee career growth can be beneficial to both the City and the affected employee. As such, consistent with training needs identified by the City and the financial resources appropriated therefore by the City, the City shall provide educational and training opportunities for employee career growth. Each employee shall be responsible for utilizing those training and educational opportunities made available by the City or other institutions for the self- development effort needed to achieve personal career goals.

  • Staff Development ‌ The County and the Association agree that the County retains full authority to determine training needs, resources that can be made available, and the method of payment for training authorized by the County. Nothing in this subsection shall preclude the right of an employee to request specific training.

  • Staff Development Leave (a) An employee will be granted leave without loss of pay, at their basic rate of pay, to take courses (including related examinations) or attend conferences, conventions, seminars, workshops, symposiums or similar out-of-service programs, at the request of the Employer. The amount of pay received by an employee will not exceed the full-time daily hours of work as outlined in Clause 14.2 (Hours of Work). When such leave is granted, the Employer will bear the full cost, including tuition fees, entrance or registration fees, laboratory fees, and course-related books. The Employer will also reimburse the employee for approved travelling, subsistence, and other legitimate, applicable expenses. (b) An employee may be granted leave without pay, with pay, or leave with partial pay, to take work related courses in which the employee wishes to enrol to acquire the skills necessary to enhance opportunities. (c) Approval of requests will be given reasonable consideration and leaves pursuant to this article will be administered in a reasonable manner. (d) Should the employee noted above terminate their employment for any reason during the six month period following completion of the above-noted leave, the employee will reimburse the Employer for all expenses incurred by the Employer (i.e. tuition fees, entrance or registration fees, laboratory fees, and course-required books) on a proportionate basis.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Program Development NWESD agrees that priority in the development of new applications services by XXXXX shall be in accordance with the expressed direction of the XXXXX Board of Directors operating under their bylaws.

  • Professional Development Fund Article 20

  • Professional Development Funds 23.1.1 Two Professional Development Funds, a Professional Development Support Fund and an Education Leave Fund, shall be established to support professional development activities as defined in 23.2. On April 1st of each year, the College will allocate an amount equal to no less than 0.9% of total faculty salary (exclusive of severance payments) to the Professional Development Support Fund, and an amount equal to no less than 0.6% of total faculty salary to the Educational Leave Fund. Any unused balances in these funds shall carry over to the next budget year. 23.1.2 The College agrees to provide the Association with the authority to administer the program on behalf of the College for those activities approved by the College in accordance with 23.2, 23.4 and 23.5. 23.1.3 Nothing in this Agreement prevents the College from funding professional development activities in addition to those activities supported through the Professional Development Funds (23.1.1) in accordance with the procedures described in this Article.

  • Research and Development (i) Advice and assistance in relation to research and development of Party B; (ii) Advice and assistance in strategic planning; and

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement. a. Develop a Work Breakdown Structure (WBS) for each project. b. Evaluate Scope Statement to develop a preliminary cost estimate and determinate whether project be vendor bid or be executed under a Job Order Contract (JOC).

  • 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.

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