Pledge of Net Revenues; Revenue Fund Sample Clauses

Pledge of Net Revenues; Revenue Fund. Except as provided below, and subject to the prior and senior lien of the Senior Obligations, all Net Revenues are hereby irrevocably pledged to the payment of the 2010 Installment Payments and the payment of the interest on and principal of all other Parity Obligations in accordance with the terms hereof and thereof as provided herein and therein, and the Net Revenues shall not be used for any other purpose while any Debt Service remains unpaid; provided, that out of the Net Revenues there may be apportioned such sums for such purposes as are expressly permitted by this article. Except with respect to the prior and senior lien of the Senior Obligations, this pledge shall constitute a first and exclusive lien on the Net Revenues for the payment of the 2010 Installment Payments and the payment of the interest on and principal of all other Parity Obligations in accordance with the terms hereof and thereof; and the 2010 Installment Payments shall be secured and payable on a parity with all other Installment Payments. In the event the QSA is terminated for any reason, Net Revenues only in the amount equal to the difference between the sum of the scheduled 2010 Installment Payments during the twenty-four month period beginning on the first day following the termination of the QSA and the amount held in the Reserve Fund under the Trust Agreement as of the date of termination of the QSA shall be irrevocably pledged to the payment of the 2010 Installment Payments. All Revenues shall be deposited as and when received in the “Imperial Irrigation District Water System Revenue Fund,” which fund is currently existing in the treasury of the District and which fund the District agrees and covenants to continue to maintain so long as any 2010 Installment Payments remain unpaid, and all money in the Revenue Fund shall be used for the payment of Maintenance and Operation Costs and, subject to the provisions in the agreements relating to the Senior Obligations, for the payment of the Debt Service and for making the deposits into the Reserve Funds and shall not be used for any other purpose while any of the 2010 Installment Payments remain unpaid; provided, that pending the use by the District of the money in the Revenue Fund for the foregoing purposes, such money may be invested by the District in Permitted Investments (as that term is defined in the Trust Agreement).
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Related to Pledge of Net Revenues; Revenue Fund

  • Pledge of Revenues This contract is entered into for the direct benefit of the holders and owners of all general obligation bonds issued under the Bond Act, and the income and revenues derived from this contract are pledged to the purposes and in the priority set forth in that act.

  • Gross Revenue 16.1.1 For the purposes of this PPP Agreement and its Schedules, Gross Revenue shall be defined as:

  • Current Revenues Under Texas law, a contract with a governmental entity that contains a claim against future revenues is void; therefore, each party paying for the performance of governmental functions or services must make those payments from current revenues available to the paying party.

  • Current Revenue The funds distributed hereunder shall be paid solely from lawfully available funds of the SEDC. Under no circumstances shall the obligations hereunder be deemed to create any debt within the meaning of any constitutional or statutory provision. None of the obligations under this Agreement shall be pledged or otherwise encumbered in favor of any commercial lender and/or similar financial institution.

  • XXXXX CASH 21 CONTRACTOR is authorized to establish a xxxxx cash fund in an amount not 22 to exceed two hundred and fifty dollars ($250.00).

  • CALCULATING THE AMOUNT OF LOSS OF REVENUES BY THE DISTRICT Subject to the provisions of Section 6.5, the amount to be paid by Applicant to compensate District for loss of Maintenance and Operations Revenue resulting from, or on account of, this Agreement for each year starting in the year of the Application Approval Date and ending on the Final Termination Date (as set out in Exhibit 5), the “M&O Amount” shall be determined in compliance with Applicable School Finance Law in effect for such year and according to the following formula:

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.

  • Gross Receipts The entire amount of all receipts, determined on a cash basis, from (a) tenant rentals collected pursuant to tenant leases of apartment units, for each month during the term hereof; provided that there shall be excluded from tenant rentals any tenant security deposits (except as provided below); (b) cleaning, tenant security and damage deposits forfeited by tenants in such period; (c) laundry and vending machines income; (d) any and all other receipts from the operation of the Project received and relating to the period in question; (e) proceeds from rental interruption insurance, but not any other insurance proceeds or proceeds from third-party damage claims, and (f) any other sums and charges collected in connection with termination of the tenant leases. Gross Receipts do not include the proceeds of (i) any sale, exchange, refinancing, condemnation, or other disposition of all or any part of the Project, (ii) any loans to Owner whether or not secured by all or any part of the Project, (iii) any capital expenditures or funds deposited to cover costs of operations made by Owner, and (iv) any insurance policy (other than rental interruption insurance or proceeds from third-party damage claims).

  • Income from Debt-Claims 1. Income from debt-claims arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.

  • 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.

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