Common use of Fixed Level Payments Clause in Contracts

Fixed Level Payments. On each Semi-Annual Payment Date occurring during the Level Payment Period, the Borrower shall make level payments of principal and interest (each a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated in such manner that the Outstanding TIFIA Loan Balance as of the Level Payment Commencement Date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding TIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA Lender may (or, at the written request of the Borrower, shall) give written notice to the Borrower of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan Documents. To the extent that any prepayments of the TIFIA Loan shall be made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments shall be applied to the remaining Outstanding TIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c) (General Prepayment Instructions) and reflected in a revised Exhibit G.

Fixed Level Payments. On each Semi-Annual Payment Date occurring during During the Level Payment Period, the Borrower shall make level payments of principal on each Principal Payment Date and payments of interest on each Interest Payment Date. The amount consisting of (i) the interest payment due on April 1 of any calendar year plus (ii) the sum of the principal and interest payments due on October 1 of such calendar year, will be approximately equal in amount for each such period during the Level Payment Period (each such amount, including the first payment of WIFIA Debt Service, which shall be the payment of principal and interest (each on the Level Payment Commencement Date, a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated in such manner that the Outstanding TIFIA Loan WIFIA Credit Balance as of the Level Payment Commencement Date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding TIFIA Loan WIFIA Credit Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan WIFIA Credit Facility are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA Lender may (or, at the written request of the Borrower, shall) WIFIA Credit Provider shall give written notice to the Borrower (with a copy to the Paying Agent and Bond Registrar) of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan WIFIA Credit Documents. To the extent that any prepayments prepayment of the TIFIA Loan shall be WIFIA Credit Facility is made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments prepayment shall be applied to the remaining Outstanding TIFIA Loan WIFIA Credit Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c9(c) (Prepayment – General Prepayment Instructions) and reflected in a revised Exhibit G.F (WIFIA Debt Service).

Fixed Level Payments. On each Semi-Annual Payment Date occurring during the Level Payment Period, the Borrower shall make level payments of principal and interest (each a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated in such manner that the Outstanding TIFIA Loan Balance as of the Level Payment Commencement Date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding TIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA Lender may (or, at the written request of the Borrower, shall) give written notice to the Borrower of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan Documents. To the extent that any prepayments of the TIFIA Loan shall be made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments shall be applied to the remaining Outstanding TIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c) (General Prepayment Instructions) and reflected in a revised Exhibit G.G.]80

Fixed Level Payments. On each Semi-Annual Payment Date occurring during During the Level Payment PeriodPeriod for the TIFIA Loan, the Borrower shall make level payments of principal and interest (each a “Fixed Level Payment”), ) of such amount so that each of which payments annual payment shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated as of the first day of the Level Payment Commencement Date in such manner that the Outstanding TIFIA Loan Balance of the TIFIA Loan as of the Level Payment Commencement Date such date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding principal balance of such TIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan are made during such period); provided that (i) the amount payable on the first Payment Date occurring during a Level Payment Period shall be appropriately adjusted in the event that the duration of the period from the commencement of the Level Payment Period to such first Payment Date shall be less than six months, and (ii) there shall be due and payable on the Final Maturity Date of the TIFIA Loan (or on any earlier date on which the maturity of the TIFIA Loan shall be accelerated pursuant to the provisions of Section 18) all amounts of principal and interest not otherwise paid pursuant to the provisions of this Agreement. Within thirty (30) 30 days prior to the beginning of the Level Payment PeriodPeriod for the TIFIA Loan, the TIFIA Lender may (or, at the written request of the Borrower, shall) shall give written notice to the Borrower of the amount of the related Fixed Level PaymentPayment (including any adjustment in respect of the first such payment), which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan Documents. To the extent that any prepayments of the TIFIA Loan shall be made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments shall be applied to the remaining Outstanding TIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c) (General Prepayment Instructions) and reflected in a revised Exhibit G.

Fixed Level Payments. On each Semi-Annual Payment Date occurring during the Level Payment Period, the Borrower shall make level payments of principal and interest (each a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated as of the Level Payment Commencement Date in such manner that the Outstanding TIFIA Loan Balance as of the Level Payment Commencement Date such date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding principal balance of such TIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA Lender may (or, at the written request of the Borrower, shall) shall give written notice to the Borrower of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan Documents. To the extent that any prepayments of the TIFIA Loan shall be made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments shall be applied to the remaining Outstanding TIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c) (General Prepayment Instructions) and reflected in a revised Exhibit G.G.]36

Fixed Level Payments. On each Semi-Annual Payment Date occurring during the Level Payment Period, the Borrower shall make level payments of principal and interest (each a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated in such manner that the Outstanding TIFIA Loan Balance as of the Level Payment Commencement Date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding TIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA Loan are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA Lender may (or, at the written request of the Borrower, shall) give written notice to the Borrower of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower with such notice shall affect any of the obligations of the Borrower under this Agreement or the other TIFIA Loan Documents. To the extent that any prepayments of the TIFIA Loan shall be made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments shall be applied to the remaining Outstanding TIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c) (General Prepayment Instructions) and reflected in a revised Exhibit G.G.]78

Fixed Level Payments. On each Semi-Annual Payment Date occurring during During the Level Payment Period, each amount consisting of (i) the Borrower shall make level payments interest payment due on January 1 of any year plus (ii) the sum of the principal and interest payments due on July 1 of such year will be approximately equal (each such amount, a “Fixed Level Payment”), each of which payments shall be approximately equal in amount. The amount of the Fixed Level Payment shall be calculated in such manner that the Outstanding TIFIA WIFIA Loan Balance as of the Level Payment Commencement Date shall be reduced to $0 on the Final Maturity Date (assuming that interest accrues during such period on the Outstanding TIFIA WIFIA Loan Balance at the rate per annum set forth in Section 6 (Interest Rate) in the absence of an Event of Default, that all Fixed Level Payments are made in a timely manner during such period, and that no additional payments of principal of or interest on the TIFIA WIFIA Loan are made during such period). Within thirty (30) days prior to the beginning of the Level Payment Period, the TIFIA WIFIA Lender may (or, at the written request of the Borrower, shall) shall give written notice to the Borrower and the City of the amount of the related Fixed Level Payment, which amount shall be deemed conclusive absent manifest error, but no failure to provide or delay in providing the Borrower and the City with such notice shall affect any of the obligations payment obligation or other obligation of the Borrower hereunder or under this Agreement any other WIFIA Loan Document to which the Borrower is a party, or any payment obligation of the City under the WIFIA IPA or other TIFIA obligation of the City hereunder or under any other WIFIA Loan DocumentsDocument to which the City is a party. To the extent that any prepayments prepayment of the TIFIA WIFIA Loan shall be is made during the Level Payment Period in addition to the Fixed Level Payments, such prepayments prepayment shall be applied to the remaining Outstanding TIFIA WIFIA Loan Balance and the resulting Fixed Level Payments shall be recalculated as provided in Section 10(c9(d) (Prepayment – General Prepayment Instructions) and reflected in a revised Exhibit G.F (WIFIA Debt Service).