Phase Two TIF Indebtedness Sample Clauses

Phase Two TIF Indebtedness. As soon as practicable following the completion of the Phase One Redeveloper Improvements, the City shall issue Phase Two TIF Indebtedness designated as a Series A Note in the estimated amount of $150,000 and a Series B Note in the estimated amount of $100,000 to be purchased by the TIF Bond Purchaser and receive Phase Two TIF Proceeds from the TIF Bond Purchaser to be deposited into a fund account for payment of the City’s TIF Bond cost of issuance and the Phase Two Eligible Project Costs (the “Phase Two Project Account”). Phase Two TIF Proceeds shall be expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Indebtedness, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves. SECOND PRIORITY: Any expenditures set forth in paragraph 12.A that were not completed with the TIF Proceeds from Phase A and that Redeveloper determines, in its sole discretion, should be completed prior to the Phase B Public Improvements. THIRD PRIORITY: Extension, relocation and connection of water mains, sanitary sewer lines and utilities. FOURTH PRIORITY: Site preparation and grading. FIFTH PRIORITY: Streetscape landscaping, including installation of sidewalks; street trees, and other landscaping. SIXTH PRIORITY: Installation of a ground coupled geothermal heating and cooling system designed for the Project.
Sample 1
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Phase Two TIF Indebtedness. As soon as practicable following the completion of the Phase One Redeveloper Improvements, the City shall issue Phase Two TIF Indebtedness in the estimated amount of $180,000.00 (as calculated on Exhibit “E”) to be purchased by the TIF Bond Purchaser and receive Phase Two TIF Proceeds from the TIF Bond Purchaser to be deposited into a fund account for payment of the City’s TIF Bond cost of issuance and the Phase Two Eligible Project Costs (the “Phase Two Project Account”). Notwithstanding the above or any other provision to the contrary in this Agreement, the City shall not have any obligation to fund, make grants, or otherwise pay for the Phase Two Eligible Project Costs until the Redeveloper has submitted to and received the City’s approval of the Sidewalk/Dock Plan for L Street. Phase Two TIF Proceeds shall be expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Indebtedness, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves; SECOND PRIORITY: The improvements to be made in the “L” Street right-of-way including the sidewalk and related improvements based on the approved Sidewalk/Dock Plan. THIRD PRIORITY: Rehabilitation of masonry and facade for historic preservation, and other exterior improvements;
Sample 1
Phase Two TIF Indebtedness. As soon as practicable following the completion commencement of the Phase One Redeveloper Two Private Improvements, the City shall issue Phase Two TIF Indebtedness in the estimated amount of $180,000.00 $200,000.00 (as calculated on Exhibit “E”) to be purchased by the TIF Bond Purchaser and receive Phase Two TIF Proceeds from the TIF Bond Purchaser to be deposited into a fund account for payment of the City's TIF Bond cost of issuance and payment of the reimbursement to the Redeveloper for its cost of constructing the Phase Two Eligible Project Costs Redeveloper Public Improvements (the “Phase Two Project Account”). Notwithstanding the above or any other provision to the contrary in this Agreement, the City shall not have any obligation to fund, make grants or otherwise pay reimburse Redeveloper for the Phase One Two Eligible Project Costs Redeveloper Public Improvements until the Redeveloper has submitted to and received the City's approval of the Sidewalk/Dock Plan for “L” Street. Phase Two TIF Proceeds shall be expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Indebtedness, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves; SECOND PRIORITY: The Reimburse the Redeveloper for the costs of the improvements to be made in the “L” Street right-of-way including the sidewalk and related improvements based on the approved Sidewalk/Dock Plan. THIRD PRIORITY: Reimburse the Redeveloper for the cost of the Rrehabilitation of masonry and facade for historic preservation, and other exterior improvements;
Sample 1

Related to Phase Two TIF Indebtedness

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • Treatment of Indebtedness Failure of Licensee to satisfy the financial obligations of this License Agreement may result in one or more of the following:

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • CERTIFICATE OF INDEBTEDNESS A certificate signed by the officer of Maybank as to the monies for the time being due and owing to Maybank from the Cardmember shall be conclusive evidence or proof that the amount appearing therein is due and owing and payable by the Cardmember to Maybank.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Notice to Proceed - Land Acquisition The acquisition of the Land shall not occur until the Director has issued a written Notice to Proceed for land acquisition to the Recipient (the "Notice to Proceed"). Such Notice to Proceed will not be issued until the Director has received a Request to Proceed acceptable to the Director and is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and any requirements for land acquisition set forth in this Agreement, including without limitation the OPWC's approval of the proposed Deed Restrictions and Title Agent. The Notice to Proceed also shall specify the time frame for the Closing.

  • Additional Debt The Borrower will, promptly upon execution thereof, deliver to the Administrative Agent a copy of each Material Debt Financing Document (excluding, for the avoidance of doubt, commitment letters, fee letters and similar letters with respect to the arrangement, establishment, syndication, or underwriting of any additional Debt); provided, that the Borrower shall have the right to redact any provision set forth in such Material Debt Financing Documents to the extent necessary to comply with binding confidentiality obligations or to protect proprietary market information. Each notice pursuant to this Section shall be accompanied by a written statement of an Authorized Officer of the Borrower (x) that such notice is being delivered pursuant to Section 5.03(a), (b) or (c) (as applicable) and (y) in the case of any notice pursuant to Section 5.03(a)(i), (iv), (v) or (vii), setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Documents required to be delivered hereto (including pursuant to Section 5.02 and Section 5.03) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed in Section 9.01; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third‑party website or whether sponsored by the Administrative Agent), provided that the Borrower shall notify the Administrative Agent (by hand delivery, facsimile or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

  • 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.

  • FINANCING CONTINGENCY The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

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