Equality of Loan and Parity Loans and Pledge of Net Taxes Sample Clauses

Equality of Loan and Parity Loans and Pledge of Net Taxes. Subject only to the provisions of this Agreement permitting the application thereof for the purposes and on the terms and conditions set forth herein, in order to secure the payment of the principal of and interest on the Loan and any Parity Loans in accordance with their terms, the provisions of this Agreement and Chapter 3.61, the District hereby pledges to the Authority, and the Authority hereby grants to the Trustee, as assignee of the Authority, a lien on and a security interest in, all of the Net Taxes held in Special Tax Fund A and all amounts held in the Repayment Fund. This pledge shall constitute a first lien on and security interest in such assets, which shall immediately attach to such assets and be effective, binding and enforceable against the District, its successors, purchasers of any of such assets, creditors and all others asserting rights therein, to the extent set forth in, and in accordance with, this Agreement, irrespective of whether those parties have notice of the pledge of, lien on and security interest in such assets and without the need for any physical delivery, recordation, filing or further act. Pursuant to Chapter 3.61 and this Agreement, the Loan and any Parity Loans shall be secured by and equally payable from the Net Taxes and other amounts in Special Tax Fund A and the Repayment Fund, without priority for the date of the making of the Loan or Parity Loans, and the payment of the interest on and principal of the Loan and any Parity Loans shall be exclusively paid from the Net Taxes and other amounts in Special Tax Fund A and the Repayment Fund, which are hereby pledged to the payment of the Loan and any Parity Loans. Net Taxes in Special Tax Fund A and amounts in the Repayment Fund shall constitute a trust fund held for the benefit of the Authority to be applied to the payment of the interest on and principal of the Loan and any Parity Loans and so long as any of the Loan and any Parity Loans or interest thereon remain Outstanding shall not be used for any other purpose, except as permitted by this Agreement or any Supplemental Agreement. Notwithstanding any provision contained in this Agreement to the contrary, Net Taxes deposited in the Surplus Fund shall no longer be considered to be pledged to the Loan or any Parity Loans, and neither the Surplus Fund nor the Administrative Expense Fund shall be construed as a trust fund held for the benefit of the Authority, the Authority Trustee or the Owners of the Authority Bonds ...
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Related to Equality of Loan and Parity Loans and Pledge of Net Taxes

  • DETERMINATIONS AND NOTIFICATIONS IN RESPECT OF NOTES AND INTEREST DETERMINATION (a) The Agent shall, unless otherwise specified in the applicable Final Terms, make all the determinations and calculations which it is required to make, if any, under the Conditions, all subject to and in accordance with the Conditions.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Schedules of Specific Commitments 1. Each Party shall set out in a schedule the specific commitments it undertakes under Article 3 (National Treatment), Article 4 (Market Access) and Article 5 (Additional Commitments). With respect to sectors where such commitments are undertaken, each schedule shall specify:

  • Modification of Commitments 1. For a period of 12 months from the date of entry into force of this Agreement, a Member State may adopt any measures or modify any of its reservations made in the Schedule under Article 9 (Reservations) for prospective applications to investors of any other Member States and their investments, provided that such measures or modification shall not adversely affect any existing investors and investments.

  • REPLACEMENT OF NOTES, COUPONS AND TALONS Should any Note, Coupon or Talon be lost, stolen, mutilated, defaced or destroyed, it may be replaced at the specified office of the Agent upon payment by the claimant of such costs and expenses as may be incurred in connection therewith and on such terms as to evidence and indemnity as the Issuer may reasonably require. Mutilated or defaced Notes, Coupons or Talons must be surrendered before replacements will be issued.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • REVISIONS AND AMENDMENTS Any revisions or amendments to this Agreement must be made in writing and signed by both parties.

  • Modifications and Amendments The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

  • Funding Provisions 4.1 All salaries, fringe benefits, professional development, local travel, supplies for the College and Career Counselor will be provided by Collin College.

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