Payment of Reimbursement Obligation; Pledge of Special Levy Revenues Sample Clauses

Payment of Reimbursement Obligation; Pledge of Special Levy Revenues subject to the Reimbursement Cap (as defined in the Development Agreement) and to the extent sufficient Special Levy Revenues are received and allocated by the District after payment of projected or budgeted Administrative Expenses to make payments on this Note in accordance with the Indenture, the District shall promptly pay the amounts due hereunder on the dates and in the amounts specified in the payment schedule attached hereto as Schedule II (the “Payment Schedule”) and incorporated herein by this reference. As to be provided in the Indenture, the District will convey, assign and pledge unto the Trustee for the benefit of the Holder all right, title and interest of District in and to the Special Levy Revenues to the extent necessary to pay the amounts due hereunder, provided that such lien on the Special Levy Revenues is secondary and subordinate to the lien of any Special Levy Revenue Bonds, issued pursuant to the Indenture, on the Special Levy Revenues. Upon issuance of Special Levy Revenue Bonds and/or Other Notes, the District may pledge (in whole or in part) the proceeds of such issuances, as applicable, under the terms of the Indenture, to the payment of the principal of this Note. The District and the Holder acknowledge and agree that this Note shall constitute a special, limited obligation of the District. No provision of this Note shall be construed or interpreted as creating a general obligation or other indebtedness of the District within the meaning of any constitutional or statutory debt limitation. No provision of this Note shall be construed to pledge or to create a lien on any class or source of District moneys other than the Special Levy Revenues, nor shall any provision of this Note restrict the future issuance of any bonds or obligations payable from any class or source of District moneys other than the Special Levy Revenues. In addition, to the extent not required for the payment of obligations of the District hereunder, the Special Levy Revenues may be utilized by the District for any other purposes permitted by law.
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Related to Payment of Reimbursement Obligation; Pledge of Special Levy Revenues

  • Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following:

  • Distributions; Xxxxxx Xxx Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

  • Reimbursement of Eligible Costs To be eligible for reimbursement, the Engineer's costs must (1) be incurred in accordance with the terms of a valid work authorization; (2) be in accordance with Attachment E, Fee Schedule; and (3) comply with cost principles set forth at 48 CFR Part 31, Federal Acquisition Regulation (FAR 31). Satisfactory progress of work shall be maintained as a condition of payment.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Payment of Debt or Delinquency to the State Pursuant to §§2107.008 and 2252.903, Texas Government Code, Contractor agrees any payments owing to Contractor under this Agreement may be applied directly toward any debt or delinquency Contractor owes the State of Texas or any agency of the State of Texas, regardless of when it arises, until paid in full.

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  • 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.

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