Payment Dates; Maturity Date. Annual Payments are due and payable to the County on this AHIF Note no later than June 1st of each year, beginning June 1, 2020, from the disbursement of Residual Receipts pursuant to the Loan Agreement. In no event shall any amount due under this AHIF Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) July 1, 2049, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Loan Agreement.
Payment Dates; Maturity Date. Annual Loan Payments are due and payable to the County on this Amended and Restated Density Loan Note no later than June 1st of each year, following the year that the Base Loan Note is paid in full, pursuant to the Amended and Restated AHIF Loan Agreement. In no event shall any amount due under this Amended and Restated Density Loan Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this Amended and Restated Density Loan Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) June 1, 2037, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this Amended and Restated Density Loan Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Amended and Restated AHIF Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Amended and Restated AHIF Loan Agreement.
Payment Dates; Maturity Date. Annual Payments are due and payable to the County on this AHIF Note no later than June 1st of each year, beginning June 1st of the year following payments in an amount equal to the WHDC Deferred Developer Fee, but in no event beginning later than June 1, 2031, from the disbursement of Residual Receipts pursuant to the Loan Agreement. In no event shall any amount due under this AHIF Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) March 1, 2045, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Loan Agreement.
Payment Dates; Maturity Date. Annual Payments are due and payable to the County on this AHIF Note no later than June 1st of each year, beginning the year immediately following the Borrower’s payment of all outstanding principal, accrued interest, and penalties and fees, if any, on the CDBG Loan pursuant to that certain CDBG Note, from the disbursement of sixty percent (60%) of the Residual Receipts pursuant to the Loan Agreement. In no event shall any amount due under this AHIF Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) 1, 2046, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Loan Agreement.
Payment Dates; Maturity Date. All payments on the loan shall be deferred until the Maturity Date. The entire outstanding principal balance of the Loan together with accrued interest and (except as otherwise provided herein or in the other City Documents) all other sums due under the City Documents shall be payable in full on the fifty-fifth (55th) anniversary of the date that City issues the final certificate of occupancy for the Project (the “Maturity Date”).
Payment Dates; Maturity Date. All payments on the loan shall be made in accordance with the terms of the Note, and shall be due on the Maturity Date as defined in the Note.
Payment Dates; Maturity Date. Annual Loan Payments are due and payable to the County on this CDBG Note no later than June 1st of each year, beginning June 1, 2022, from the disbursement of Residual Receipts pursuant to the Loan Agreement. In no event shall any amount due under this CDBG Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this CDBG Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) December 1, 2053, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this CDBG Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Loan Agreement. County Board of Arlington County, Virginia (Lender) XXXXXX SPRINGS RHF PARTNERS, LP (Borrower)
Payment Dates; Maturity Date. Annual Payments are due and payable to the County on this AHIF Note no later than January 1st of each year, beginning January 1, 2019, pursuant to the Loan Agreement. In no event shall any amount due under this AHIF Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i) January 1, 2021, or (ii) the occurrence of an Event of Default for which the County exercises its rights to cause the entire outstanding principal balance of this AHIF Note, together with interest accrued thereon and any other sums accrued hereunder to become immediately due and payable pursuant to applicable provisions of the Loan Agreement, or (iii) a Transfer that is not permitted or approved by the County as provided in Section 5.03 of the Loan Agreement.
Payment Dates; Maturity Date. Annual Payments are due and payable to the County on this Amended and Restated Promissory Note no later than June 1st of each year, beginning no later than June 1, 2016, from the disbursement of Residual Receipts pursuant to the Amended and Restated CDBG Subrecipient and AHIF Loan Agreement. In no event shall any amount due under this Amended and Restated Promissory Note become subject to any rights of offset, deduction or counterclaim on the part of the Borrower. The entire outstanding principal balance of this Amended and Restated Promissory Note, together with interest accrued thereon and any other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the earlier of (i)
Payment Dates; Maturity Date. By no later than July 1 of each year following the issuance of a final certificate of occupancy or equivalent for the Project, Borrower shall pay to City fifty percent (50%) of Surplus Cash (defined below) generated by the Project during the previous calendar year to reduce the indebtedness owed under the Notes, which shall be shared on a proportional basis with other approved public lenders that provide financing with residual payment terms for the Project. Payments shall be credited first to any unpaid late charges and other costs and fees then due, then to accrued interest, and then to principal. In no event shall any amount due under the Notes become subject to any rights, offset, deduction or counterclaim on the part of Borrower. The entire outstanding principal balance of the City Development Loan, together with interest accrued thereon and all other sums accrued hereunder shall be payable in full on the date (the “Maturity Date”) which is the later of (i) the fifty-fifth (55th) anniversary of the date upon which the City issues a final certificate of occupancy or equivalent for the Project, or (ii) the sixtieth (60th) anniversary of the date hereof. Notwithstanding the foregoing, the City shall have the right to accelerate the Maturity Date and declare all sums payable under the Notes immediately due and payable upon the expiration of all applicable cure periods following the occurrence of an Event of Borrower Default. No later than June 1 of each year following the issuance of a final certificate of occupancy or equivalent for the Project, Borrower shall provide to City Borrower’s calculation of Surplus Cash for the previous calendar year, accompanied by such supporting documentation as City may reasonably request, including without limitation, an independent audit prepared for the Project by a certified public accountant in accordance with generally accepted accounting principles. City shall have the right to inspect and audit Xxxxxxxx’s books and records concerning the calculation of Surplus Cash, and to object within ninety (90) days from receipt of Xxxxxxxx's statement. Failure to timely object shall be deemed acceptance. If City does object, City shall specify the reasons for disapproval. Borrower shall have thirty (30) days to reconcile any disapproved item. If Borrower and City cannot agree on the amount of Surplus Cash, an independent auditor mutually selected by Borrower and City shall resolve any disputed items. The cost of the auditor sh...
