Fund Deposits. A. In order to carry out the purposes of section 607 of the Act as more specifically set forth in Schedule B of this Agreement, for each of the taxable years covered by this Agreement;
1. The Party shall deposit, in any order, all amounts received from the following:
a. Receipts (earnings) from the investment and reinvestment of amounts held in the Fund; and
b. Except as shall be specifically exempted from deposit by the Secretary, net proceeds (i) the sale or other disposition (including any mortgage) of any agreement vessel, and/or (ii) any insurance or indemnity attributable to any agreement vessel resulting from total loss whether such loss was determined by compromise, constructively, or by agreement.
2. In addition to the deposits required by section (A) of this Article V, the party may make deposit in any order and amount, but not in excess of the sum of:
a. One hundred percent of the taxable income attributable to the operation of the agreement vessels in the fisheries of the United States;
b. The amount allowable as a deduction under section 167 of the Internal Revenue Code for such year in respect to the agreement vessels; and/or
c. Net proceeds not required to be deposited under section (A) (1) (b) of this Article V from (i) the sale or other disposition (including any mortgage) of any agreement vessel, and/or (ii) any insurance or indemnity attributable to any agreement vessel. In no event may the deposits of taxable income from agreement vessels for any taxable year exceed one hundred percent of the taxable income of the Party for such year. Deposits may be made to the ordinary income, capital gain, and capital accounts from any moneys or funds of the Party, however, the Federal income tax treatment of any deposit shall be that specified under section 607 of the Act.
B. Deposits which are determined by subsequent audit to exceed the limitations stated in section (A) of this Article V may be applied as deposits applicable to a subsequent taxable year under this Agreement. In the event that upon subsequent audit it is determined that amounts deposited in the Fund for any taxable year fall below the maximum limitations stated in section (A) of this Article V, additional deposits may be made applicable to such taxable year.
X. Xxxxxxxx may be made in the form of mortgages and evidences of indebtedness received in connection with transactions referred to in section (A) of this Article V.
D. With respect to any leased vessel covered by this Agreemen...
Fund Deposits. 3.1.1 The City, upon the adoption of each Assessment Ordinance, shall cause to be created and established a Reimbursement Fund (each a “PID Reimbursement Fund”) for the deposit of Assessment Revenue authorized by and collected pursuant to such Assessment Ordinance. Each PID Reimbursement Fund so created and established shall consist solely of the Assessment Revenue authorized by and collected pursuant to the applicable Assessment Ordinance.
3.1.2 Unless and until PID Bonds are issued, and subject to the following Section 3.1.3 of this Agreement, the City shall bill, collect, and immediately deposit all Assessment Revenue into the applicable PID Reimbursement Fund. After the issuance and delivery of PID Bonds, the City shall bill, collect, and immediately deposit all Assessment Revenue in the manner set forth in the applicable Bond Indenture. The City shall also deposit Bond Proceeds in the manner set forth in the applicable Bond Indenture. Annual Installments shall be billed and collected by the City (or on behalf of the City by any person, entity, or governmental agency permitted by law) in the same manner and at the same time as the City ad valorem taxes are billed and collected. The funds in each applicable PID Project Fund shall only be used in accordance with the applicable Bond Indenture. The funds in each applicable PID Reimbursement Fund shall only be used to pay all or any portion of the applicable Reimbursement Agreement Balance in accordance with this Agreement.
3.1.3 The City hereby confirms, covenants, and agrees that for so long as amounts are due to Developer under this Agreement either, or both, before PID Bonds are issued or for so long as PID Bonds are outstanding, that the City will do the following in the manner and to the maximum extent permitted by applicable law, subject to any conflicting provisions in any applicable Bond Indenture: (a) take and pursue all actions necessary to cause the Assessments to be levied and collected; (b) take and pursue all actions necessary to cause the liens related to the Assessments to be enforced continuously, including diligently prosecuting an action in district court to foreclose for delinquent or nonpayment of Assessments, including Annual Installments; and (c) take and pursue all actions necessary to cause no reduction, abatement or exemption of the Assessments. Notwithstanding the foregoing, the City shall not be required under any circumstances to purchase or make payment for the purchase of the...
Fund Deposits. (i) In addition to the payments specified above in Sections 3.1, 3.2, and 3.4, SoCalGas shall, within thirty (30) days of entry of the Consent Decree, pay to the California Attorney General the sum of ONE HUNDRED THOUSAND DOLLARS ($100,000), which sum shall be deposed in the Aliso Fund. If this payment is made by check, the check shall be made payable to “California Department of Justice” and shall bear on its face the case name (“People v. Southern California Gas Company”) and the internal docket number for this matter (JCCP No. 4861, BC602973, ProLaw LA2016950003). SoCalGas shall deliver this payment to: Office of the Attorney General, 000 X. Xxxxxx Xxxxxx, Xxxxx 0000, Xxx Xxxxxxx, Xxxxxxxxxx 00000, Attention: Xxxxx Xxxxxxxx, Supervising Deputy Attorney General, Environment Section. In the alternative, SoCalGas may request to make this payment by wire transfer. SoCalGas can, at its discretion, combine this payment with the payments described in Sections 3.1, 3.2, ad 3.4 above, for a total single payment of THIRTEEN MILLION TWO HUNDRED THOUSAND DOLLARS ($13,200,000).
(ii) The Aliso Fund may also include future contributions pursuant to the Consent Decree and Mitigation Agreement, including:
Fund Deposits. 3.1.1 Unless and until PID Bonds are issued, the City shall xxxx, collect, and immediately deposit into the PID Reimbursement Fund, which PID Reimbursement Fund is hereby created and established as a fund under this Agreement, all Assessment Revenue consisting of: (a) revenue collected from the payment of Special Assessments (including pre- payments and amounts received from the foreclosure of liens but excluding costs and expenses related to collection); and (b) revenue collected from the payment of Annual Installments (excluding Administrative Expenses and Delinquent Collection Costs). After the issuance and delivery of PID Bonds for the Phase 2 and 3 Authorized Improvements, the City shall xxxx, collect, and immediately deposit all Assessment Revenue in the manner set forth in the Bond Indenture. The City shall also deposit Bond Proceeds in the manner set forth in the Bond Indenture. Annual Installments shall be billed and collected by the City (or by any person, entity, or governmental agency permitted by law) in the same manner and at the same time as the City ad valorem taxes are billed and collected. Funds in the PID Project Fund shall only be used in accordance with the Bond Indenture. Funds in the PID Reimbursement Fund shall only be used to pay all or any portion of the Reimbursement Agreement Balance in accordance with this Agreement.
3.1.2 The City hereby confirms, covenants, and agrees that for so long as amounts are due to Developer under this Agreement and for so long as PID Bonds are outstanding, that the City will do the following in the manner and to the maximum extent permitted by applicable law, subject to any conflicting provisions in the Bond Indenture: (a) take and pursue all actions necessary to cause the Special Assessments to be collected; (b) take and pursue all actions necessary to cause the liens related to the Special Assessments to be enforced continuously, including diligently prosecuting an action in district court to foreclose for delinquent or nonpayment of Special Assessments, including Annual Installments; and (c) take and pursue all actions necessary to cause no reduction, abatement or exemption of the Special Assessments. Notwithstanding the foregoing, the City shall not be required under any circumstances to purchase or make payment for the purchase of the delinquent Special Assessments or the corresponding Assessed Parcel. The Bond Indenture shall control in the event of any conflicts with this Agreement.
Fund Deposits. All credits are applied to Customer’s Fund Account: $ 7,200 $12,000 One Time Credit: The Customer will receive 2 credits with each credit being equal to $7,500. Payment Arrangements: The Customer must pay for Company service within 30 days of the date of the Company’s invoice.
Fund Deposits. In order to carry out the purposes of section 607 of the Act as more specifically set forth in Schedule B of this Agreement, for each of the taxable years covered by this Agreement;
Fund Deposits. The City shall bill, collect, and immediately deposit into the Greystone PID Reimbursement Fund all Assessment Revenues consisting of: (1) revenue collected from the payment of Assessments (including pre-payments and amounts received from the foreclosure of liens but excluding costs and expenses related to collection) levied against Assessed Property; and
Fund Deposits. The City shall xxxx, collect, and deposit into the Kiber Reserve PID Reimbursement Fund all Assessment Revenues consisting of: (1) revenue collected from the payment of Assessments (including pre-payments and amounts received from the foreclosure of liens but excluding costs and expenses related to collection) levied against Assessed Property; and
Fund Deposits. The City shall xxxx, collect, and immediately deposit into the PID Reimbursement fund all Assessment Revenue consisting of (1) revenue collected from the payment of Assessments (including prepayments and amounts received from foreclosure of liens but excluding costs and expenses related to collection) levied against Assessed Property; and (2) revenue collected from the payment of Annual Installments (excluding Administrative Expenses and Delinquent Collection Costs) of Assessments levied against Assessed Property. If an Assessment is not paid in full, it shall be paid in Annual Installments as set forth in the SAP. Annual Installments shall be billed and collected by the City (or by any person, entity, or governmental agency permitted by law) in the same manner and at the same time as City ad valorem taxes are billed and collected. Funds in the PID Reimbursement Fund shall only be used in accordance with the SAP and this Agreement in accordance with applicable law.
Fund Deposits. The City, or its designee, shall xxxx and collect Annual Installments in the manner and at the times determined by the City; and, the City shall immediately deposit all Assessment Revenue in the manner set forth in the applicable Bond Indenture. Subject to Section 3.3, the City shall also deposit Bond Proceeds and any other funds authorized or required by the applicable Bond Indenture in the manner set forth in the applicable Bond Indenture. Funds in a PID Project Fund shall only be used in accordance with the applicable Bond Indenture. Prior to the closing of any PID Bonds, the Developer shall make any deposits to the University Property Improvement Account and/or the Developer Property Tax Account in the amount and in the manner set forth in the Bond Indenture relating to such PID Bonds. Any amounts so deposited into such accounts shall be used in the manner set forth in the applicable Bond Indenture and, with respect to the Developer Property Tax Account, the Redemption/Waiver Agreement. Unused funds in the University Property Improvement Account and the Developer Property Tax Account shall be released to the Developer at the time and in the manner set forth in the applicable Bond Indenture and the applicable Redemption/Waiver Agreement.
