Pay-Go CID Financing Sample Clauses

Pay-Go CID Financing. The parties hereby agree that the CID Proceeds shall be disbursed first to the UG quarterly from the CID Fund on a pay-as-you-go basis ("Pay-Go CID Financing") to reimburse the UG for the UG Contribution, plus Interest, in accordance with the Amortization Schedule, and thereafter (once the UG has been fully reimbursed for the UG Contribution, plus Interest), the remaining CID Proceeds shall be disbursed to Developer for Developer's eligible Project Costs as described in the Total Project Budget attached hereto as Exhibit H, and any other hard construction costs authorized by the CID Petition and legally eligible under the CID Act; provided however that such Pay-Go CID Financing shall be limited to the extent that: (1) there are sufficient CID Proceeds in the CID Fund; (2) the UG has not already been reimbursed in full for the UG Contribution, plus Interest (and thereafter, Developer has not already been reimbursed in full for Developer's eligible Project Costs as described in the Total Project Budget attached hereto as Exhibit H; and (3) the CID Collection Period has not yet expired. The parties further agree that the CID Sales Tax shall be collected within the CID for a period that commences on July 1, 2023, or any other effective date that the UG may approve by ordinance if a change in the effective date is requested in writing by more than 55% of the owners of record in the CID; and the CID shall terminate upon that date which is the earlier of (a) the date that the UG has been reimbursed in full for the UG Contribution, plus Interest and Developer has been reimbursed in full for Developer's eligible Project Costs as described in the Total Project Budget attached hereto as Exhibit H; or (b) twenty-two (22) years from the date that collection of the CID Sales Tax commences (the "CID Collection Period"). At the end of the CID Collection Period, the parties understand and agree that the CID shall thereafter terminate, the CID Sales Tax shall terminate and no longer be levied or collected within the CID, and the UG shall promptly take any action required to so terminate the CID and the CID Sales Tax.
Sample 1
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Related to Pay-Go CID Financing

  • Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:

  • Pre-financing Pre-financing is intended to provide the beneficiary with a float. Where required by the provisions of Article I.4 on pre-financing, the beneficiary shall furnish a financial guarantee from a bank or an approved financial institution established in one of the Member States of the European Union. The guarantor shall stand as first call guarantor and shall not require the Commission to have recourse against the principal debtor (the beneficiary). The financial guarantee shall remain in force until final payments by the Commission match the proportion of the total grant accounted for by pre-financing. The Commission undertakes to release the guarantee within 30 days following that date.

  • Equity Financing If there is an Equity Financing before the expiration or termination of this instrument, the Company will automatically issue to the Investor a number of shares of Safe Preferred Stock equal to the Purchase Amount divided by the Conversion Price. In connection with the issuance of Safe Preferred Stock by the Company to the Investor pursuant to this Section 1(a):

  • Seller Financing Seller agrees to provide financing to the Buyer under the following terms and conditions:

  • Third Party Financing If Product acquisitions are financed through any third party financing, Contractor may be required as a condition of Contract Award to agree to the terms and conditions of a “Consent & Acknowledgment Agreement” in a form acceptable to the Commissioner.

  • Project Financing B.1. The Foundation hereby agrees to fund, by Conditional Grant, the implementation of the Proposal in the maximum sum of $ or 50% of the actual expenditures on the Project, as contemplated in the Approved Project Budget, whichever is less, and at the times and as may otherwise be set forth in Annex B hereto.

  • Credit Facilities 22 2.1 Loans....................................................................... 22 2.2 Letters of Credit........................................................... 22 2.3 Commitments................................................................. 25

  • FISCAL IMPACT/FINANCING There will be no impact to the County General Fund.

  • Financing Arrangement 5.2.1 The Developer shall at its own cost, expenses and risk make such financing arrangement as would be necessary to implement the Project and to meet all of its obligations under this Agreement, in a timely manner.

  • Financing Arrangements (a) The Owner will obtain the Project Loan which shall be sufficient, together with the Owner's equity contributions, to pay the full amount of the costs to construct the Project in accordance with the development budget. The Owner and the Developer also contemplate that the Property and the Project, together with all fixtures, furnishing, equipment, and articles of personal property now owned or hereafter acquired by the Owner which are or may be attached to or used in connection with the Property or the Project, together with any and all replacements thereto and substitutions therefor, and all proceeds thereof; and all present and future rents, issues, leases, and profits of the Property and the Project will serve as security for the payment obligations to any lenders relating to the Project Loan or otherwise, and that the Owner will be the principal obligor for the repayment of all financial obligations thereunder after the transfer of title to the Owner. The Owner therefore, agrees to execute and deliver all commitments, promissory notes, mortgages, collateral assignments, documents, certificates, affidavits, and other writings required to be executed by any lender in connection with such financing.

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