Lender Purchased TIF Bond; Redeveloper Payment of Tax Increment Deficiency Sample Clauses

Lender Purchased TIF Bond; Redeveloper Payment of Tax Increment Deficiency. If Redeveloper’s Lender purchases a TIF Bond, the Redeveloper shall be liable to cover any shortfall in the TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project Site and Private Improvements located thereon. Specifically, in the event of and to the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Indebtedness, Redeveloper agrees to pay the City the amount of said deficiency within thirty (30) days following receipt of a written request for such payment from the City. If Redeveloper is required to pay any such deficiency, the City shall reimburse Redeveloper for all sums paid by Redeveloper for such purposes to the extent TIF Tax Revenues do become available during the Tax Increment Period (defined below) from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for such deficiency payments. In the event that any deficiency payments made by Redeveloper as required by this subsection or any interest that has accrued thereon have not been repaid at the end of the Tax Increment Period, Redeveloper agrees that the City shall not be liable for payment of said amounts and that said amounts shall be forgiven.
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Lender Purchased TIF Bond; Redeveloper Payment of Tax Increment Deficiency. If Redeveloper’s Lender purchases the TIF Bond, the Redeveloper shall be liable to cover any shortfall in the TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project Site and Redeveloper Improvements located thereon. Specifically, in the event of and to the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Indebtedness, Redeveloper agrees to pay the City the amount of said deficiency within thirty
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Related to Lender Purchased TIF Bond; Redeveloper Payment of Tax Increment Deficiency

  • Tax Increment Financing The Redevelopment Agreement provides for the capture of the Tax Increment, as defined therein, by the City of the Redeveloper Improvements to be made by the Redeveloper for a period not to exceed fifteen (15) years after the Redevelopment Project effective date defined in the Redevelopment Agreement. The Tax Increment so captured by the City shall be used for to make the Redeveloper Improvements as described in the Redevelopment Agreement.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • CONCESSION PAYMENT AND INCREASE A. For the Initial Term of the Agreement, Concessionaire shall pay Department a minimum Concession Payment of Eight Hundred ($800.00) Dollars in accordance with the Concession Payment Schedule set forth in Exhibit B as consideration for the Concession, license and privilege granted. For subsequent Renewal Terms, if any, Concessionaire shall pay Department in accordance with the Concession Payment Schedule set forth in Exhibit B.

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • COSTS DISTRIBUTED THROUGH COUNTYWIDE COST ALLOCATIONS The indirect overhead and support service costs listed in the Summary Schedule (attached) are formally approved as actual costs for fiscal year 2020-21, and as estimated costs for fiscal year 2022-23 on a “fixed with carry-forward” basis. These costs may be included as part of the county departments’ costs indicated effective July 1, 2022, for further allocation to federal grants and contracts performed by the respective county departments.

  • Assuming Institution’s Liquidation of Remaining Shared-Loss Loans In the event that the Assuming Institution does not conduct a Portfolio Sale pursuant to Section 4.1, the Receiver shall have the right, exercisable in its sole and absolute discretion, to require the Assuming Institution to liquidate for cash consideration, any Shared-Loss Loans held by the Assuming Institution at any time after the date that is six months prior to the Termination Date. If the Receiver exercises its option under this Section 4.2, it must give notice in writing to the Assuming Institution, setting forth the time period within which the Assuming Institution shall be required to liquidate the Shared-Loss Loans. The Assuming Institution will comply with the Receiver’s notice and must liquidate the Shared-Loss Loans as soon as reasonably practicable by means of sealed bid sales to third parties, not including any of the Assuming Institution’s affiliates, contractors, or any affiliates of the Assuming Institution’s contractors. The selection of any financial advisor or other third party broker or sales agent retained for the liquidation of the remaining Shared-Loss Loans pursuant to this Section shall be subject to the prior approval of the Receiver, such approval not to be unreasonably withheld, delayed or conditioned.

  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Date Increment Due Increments shall accrue and become due and payable on the next day following completion of required service as an employee in the class, unless otherwise provided herein.

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

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