EDC Bond Sample Clauses

EDC Bond. The City and the RDC shall, subject to such further proceedings as may be required by law, including without limitation the receipt by the Common Council of the City of a recommendation by the City’s Economic Development Commission, use its best efforts to (a) implement the State Street Lease Structure, and (b) cause the City to issue an economic development revenue bond pursuant to I.C. § 36-7-12 (the “EDC Bond”), in each case for the purpose of securing the obligation to make the Dedicated TIF 1 Revenue and the Dedicated TIF 2 Revenue available to the Joint Board in order to make availability payments and other payments due the Developer on the Project. The (a) leases and other instruments evidencing the State Street Lease Structure and (b) the indenture and other documents evidencing the EDC Bond (and any indenture or other document evidencing the obligations thereunder) shall, as applicable, provide that:
Sample 1
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EDC Bond. The City and the RDC shall, subject to such further proceedings as may be required by law, including without limitation the receipt by the Common Council of the City of a recommendation by the City’s Economic Development Commission, use its best efforts to cause the City to issue an economic development revenue bond pursuant to I.C. § 36-7-12 (the “EDC Bond”) for the purpose of securing the obligation to make the Dedicated TIF 1 Revenue and the Dedicated TIF 2 Revenue available to the Joint Board in order to make availability payments and other payments due the Developer on the Project. The EDC Bond (and any indenture or other document evidencing the obligations thereunder) shall provide that:
Sample 1

Related to EDC Bond

  • Payment Bond PURCHASER shall furnish an acceptable payment bond or blanket payment bond to STATE as guarantee for payment for timber. Payment bonds may be in the form of surety bonds, cash, cashier's or certified check, money order, assignment of surety, irrevocable letters of credit, or other securities as determined acceptable by the State Forester. Surety bonds must be written by a surety company authorized to do business in the State of Oregon, on a form provided by STATE. The bonds shall be in an amount at least equal to the value of timber estimated to be removed during a one-month plus 15-day billing period as determined by STATE. In any event, the amount shall not be less than one installment payment as specified in Section 42. Under a payment bond, PURCHASER may remove timber for a 30-day period, after which time, payment becomes due and owing. PURCHASER shall make cash payment within 15 days following the end of the monthly period. Upon payment for timber removed in the monthly period, the payment guarantee may be applied as a guarantee for a subsequent period. A blanket payment bond shall be in an amount at least equal to the value of the timber estimated to be removed from all contracts covered by the blanket payment bond during a one-month plus 15-day billing period as determined by STATE. PURCHASER shall obtain and furnish STATE with a written consent of surety on forms provided by STATE for coverage of any contracts to which the blanket payment bond may apply. In no event shall PURCHASER remove timber with a value greater than the amount of the payment guarantee.

  • MORTGAGE BOND If the sale is subject to the Purchaser obtaining a mortgage bond as per clause 12 of the terms and conditions: Mortgage bond amount R Institution If not completed, sale is unconditional and clause 12 of the terms and conditions does not apply. Purchaser specifically acknowledges this clause

  • Surety Bond (a) If a Required Surety Payment is payable pursuant to the Surety Bond with respect to any Additional Collateral Loan, the Master Servicer shall so notify the Trustee as soon as reasonably practicable and the Trustee shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall promptly submit such notice to the Surety as a claim for a Required Surety. The Master Servicer shall upon request assist the Trustee in completing such notice and shall provide any information requested by the Trustee in connection therewith.

  • Blanket Bond If Purchaser furnishes an acceptable bond, or deposits securities, in accordance with B4.3, to guarantee payment for timber from this and other timber sales within the same National Forest, the amount of such bond or deposited securities shall be al- located to such timber sales by Forest Service. When there is to be no timber cutting hereunder for 30 days or more and payment of current charges has been made, the allocation to this timber sale shall be reallocated to other timber sales at Purchaser’s request. Purchaser shall not start cutting hereunder until this timber sale re- ceives an allocation that will meet the obligation for pay- ment guarantee.

  • Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.

  • Contract Bonds Contract bonds shall conform to the requirements of Section 103.05.

  • Performance Bond Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.

  • Maintenance Bond Prior to being placed on Council's agenda for acceptance of public improvements in this Subdivision, Subdivider shall deposit with the Director of Finance a Three (3) year maintenance bond for streets, pavement, storm and sanitary sewers, water systems, street lighting systems and facilities appurtenant thereto in the amount of Forty Six Thousand Nine Hundred Eighty Two and 50/100 ($46,982.50) Dollars, which represents ten percent (10%) of the estimated cost of said public improvements.

  • RECYCLED BOND PAPER Consistent with the Board of Supervisors’ policy to reduce the amount of solid waste deposited at the County landfills, the Contractor agrees to use recycled-content paper to the maximum extent possible on this Contract.

  • Security Bond The security bond provides protection to Owner if Contractor presents an acceptable guaranteed maximum price (“GMP”) to Owner but is unable to deliver the required payment and performance bonds within the time period stated below.

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