No Other Replacement Proceeds Sample Clauses

No Other Replacement Proceeds. The Recipient will not use any of the Project Funds to replace funds of the Recipient which are or will be used to acquire investment property reasonably expected to produce a yield that is materially higher than the yield on the Bonds.
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No Other Replacement Proceeds. The Purchaser hereby agrees that it will not use any Facility Funds to replace funds of the Purchaser which are or will be used to acquire Investment Property reasonably expected to produce a yield that is materially higher than the yield on the Installment Payments under this Agreement.
Sample 1
No Other Replacement Proceeds. The City is not using any Facility Funds and hereby agrees that it will not use any Facility Funds to replace funds of the City which are or will be used to acquire Investment Property reasonably expected to produce a yield that is materially higher than the yield on the Installment Payments under this Agreement.
Sample 1
No Other Replacement Proceeds. That portion of the Issue that is to be used to finance Capital Expenditures has a weighted average maturity that does not exceed 120% of the weighted average reasonably expected economic life of such Capital Expenditures.
Sample 1
No Other Replacement Proceeds. The term of the Bonds is no longer than is reasonably necessary for the governmental purposes of the Bonds. Specifically, the Bonds have a weighted average maturity (______ years) that does not exceed 120 percent of the average reasonably expected economic life of the Financed Facilities being refinanced thereby, determined in the same manner as under Section 147(b) of the Code. For this purpose, the reasonably expected economic life of any facility shall be determined as of the later of (i) the date on which the bonds are issued, or (ii) the date on which the facility is placed in service (or expected to be placed in service).
Sample 1
No Other Replacement Proceeds. Except for the establishment of the funds and accounts described in paragraphs (i) through (v) above, none of the Issuer or the Concessionaire nor a related person (as defined in Section 147 of the Code) to the Issuer or the Concessionaire, as the case may be, nor any other substantial beneficiary of the Series 2014 Bonds has created or established and none of the foregoing parties are expected to create or establish any other fund to pay debt service on the Series 2014 Loan or the Series 2014 Bonds, or a debt service reserve fund or any other similar fund with respect to the Series 2014 Loan or the Series 2014 Bonds, or a negative pledge or right of set-off in any funds, accounts or assets of the Issuer or the Concessionaire. Further, there are no other funds that are reasonably expected to be used to pay debt service on the Series 2014 Loan or the Series 2014 Bonds and for which there is a reasonable assurance that amounts on deposit therein or the investment income earned thereon will be available to pay debt service on the Series 2014 Loan or the Series 2014 Bonds if the applicable obligor encounters financial difficulties. None of the Issuer or the Concessionaire will create or establish, or will allow to be created or established, any such fund, account, negative pledge or right of set-off unless the Issuer obtains an opinion of Bond Counsel to the effect that the creation or establishment of such fund, account, negative pledge or right of set-off will not adversely affect the excludability of interest on the Series 2014 Bonds from the gross income of the registered owners thereof for federal income tax purposes.
Sample 1

Related to No Other Replacement Proceeds

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Condemnation Proceeds all Condemnation Proceeds other than proceeds to be applied to the restoration or repair of the property subject to the related Mortgage or released to the related Mortgagor in accordance with the Servicing Standard, which proceeds shall be deposited by the Master Servicer into an Escrow Account and not deposited in the Collection Account;

  • Insurance Proceeds To the extent payment is actually made to the Indemnitee under a valid and collectible insurance policy in respect of Indemnifiable Amounts in connection with such specific claim, issue or matter, Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder except in respect of any excess beyond the amount of payment under such insurance.

  • Private Placement Proceeds On the Closing Date, the Company shall cause to be deposited $4,500,000 of proceeds from the Private Placement into the Trust Account. On the Option Closing Date, if any, the Company shall cause to be deposited an amount of additional proceeds from the additional Private Warrants sold on the Option Closing Date into the Trust Account such that the amount of funds in the Trust Account shall be $10.10 per Public Share sold in the Offering.

  • Balance in the Replacement Reserve Account The insufficiency of any balance in the Replacement Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.

  • Production Proceeds Notwithstanding that, by the terms of the various Mortgages, certain Guarantors and Borrower are and will be assigning to Administrative Agent and Lenders all of the “Production Proceeds” (as defined therein) accruing to the property covered thereby, so long as no Event of Default has occurred such Loan Parties may continue to receive from the purchasers of production all such Production Proceeds, subject, however, to the Liens created under the Mortgages, which Liens are hereby affirmed and ratified. Upon the occurrence of an Event of Default, Administrative Agent and Lenders may exercise all rights and remedies granted under the Mortgages, including the right to obtain possession of all Production Proceeds then held by Loan Parties or to receive directly from the purchasers of production all other Production Proceeds. In no case shall any failure, whether purposed or inadvertent, by Administrative Agent or Lenders to collect directly any such Production Proceeds constitute in any way a waiver, remission or release of any of their rights under the Mortgages, nor shall any release of any Production Proceeds by Administrative Agent or Lenders to Loan Parties constitute a waiver, remission, or release of any other Production Proceeds or of any rights of Administrative Agent or Lenders to collect other Production Proceeds thereafter.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Proceeds of Collateral Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

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