Pledged Revenues. In order to facilitate the collection of the Pledged Revenues, the County shall hold Pledged Revenues which have been deposited from specific amounts from the respective Participant’s funds on deposit with the Treasurer for such purpose and received from each of the respective Participants for the account of such respective Participants established under the respective Participants’ Note Resolutions. The Treasurer shall transmit or cause to be transmitted a monthly statement on a per-Participant basis of all transactions and investments made by or through the County and of all amounts on deposit with the County hereunder, including, in the event that sufficient Pledged Revenues have not been timely deposited in a Participant’s Repayment Fund in accordance with its District Note Resolution, written confirmation of such event, to the Office of Education, and shall invest such Pledged Revenues in the Los Angeles County Treasury Pool or in such other Permitted Investments. All principal and interest payments on the Notes shall be paid directly by each Participant to the Treasurer or by the Auditor-Controller to the County pursuant to the procedure set forth in Section 5.2 above. All principal and interest payments on the Notes received by the Treasurer shall be held in trust by the Treasurer under the terms of this Agreement and shall be deposited by it, as and when received, in the Repayment Funds of the respective Participants established under this Agreement. All money in the Repayment Funds shall be held in trust by the Treasurer for the benefit and security of the Registered Owners of the Certificates to the extent provided in this Agreement and shall be invested in the Los Angeles County Treasury Pool or in such other Permitted Investments. Moneys received by the Treasurer attributable to a Participant shall not be used in any manner (directly or indirectly) to make up any deficiency in Note payments of any other Participant. Notwithstanding any deposit to a Repayment Fund, each Participant shall remain obligated to pay the principal of and interest on its respective Note in accordance with its terms. To the extent the Treasurer receives Note payments from a Participant that are less than the amounts required to pay the interest due on such Participant’s Note on the Maturity Date thereof, and the principal on such Note payable on the Maturity Date thereof, the Treasurer shall apply the moneys received first, to pay interest on such Note, and second, to p...
Pledged Revenues. (a) Except as contemplated by the Trust Agreement, there are no pledges, charges, liens or other encumbrances on the Pledged Revenues (other than any lien of or relating to a taxpayer on the Series A Taxes), (b) no person has any right, title or interest (whether limited or otherwise), or claim, of any nature, in or to any Pledged Revenues other than the County, the Noteholders and Holders of Series B Obligations (other than any lien of or relating to a taxpayer on the Series A Taxes) and (c) other than as set forth in the Trust Agreement, the County has not, and has not purported to have, transferred, granted, created, otherwise disposed of, or suffered to exist, any right, title or interest (whether limited or otherwise), or claim, of any nature, in or to any Pledged Revenues, and other than as set forth in the Trust Agreement, there are no agreements relating to the Pledged Revenues to which the County is a party.
Pledged Revenues. Pledged Revenues means the revenue defined in Section 2 of this Agreement, which amounts shall be calculated, collected, deposited, and maintained in the Special Account in accordance with Section 9, and paid to the Developer during each year of the Duration after the trigger for reimbursement is met. No other tax increment financing revenues received by XXXX or any other revenues received by XXXX shall be considered Pledged Revenues. XXXX hereby irrevocably pledges the Pledged Revenues to payment of the Reimbursement to the Developer as provided herein for the Duration. XXXX shall not enter into any agreement or transaction that impairs the rights of the Developer under this Agreement. LURA’s Reimbursement Obligation established by this Agreement is and shall be an obligation of XXXX pursuant to Section 00-00-000, C.R.S., et. seq.
Pledged Revenues. The Authority represents it has not heretofore made a pledge of, granted a lien on or security interest in, or made an assignment or sale of the Revenues that ranks on a parity with or prior to the pledge granted under this Indenture. The Authority shall not hereafter make any pledge or assignment of, lien on, or security interest in the Revenues payable senior to or on a parity with the pledge of Revenues established under this Indenture.
Pledged Revenues. Pledged Revenues Bond Year Seat Use Charge Sales Tax Revenues Bristol Rent CVC Use Payments Total 2 To come from Hilltop Thru 30
Pledged Revenues. The loan recipient shall make deposits of pledged revenues to a restricted or assigned debt service account and shall be responsible for the maintenance of that account.
(a) Pledged revenues for projects sponsored by a local government shall be a minimum of 1.15 times the amount required to make each semiannual loan repayment unless the project sponsor establishes a restricted or assigned reserve account in an amount not less than the equivalent of two semiannual loan repayments. The pledged revenue coverage for the loan from the Department shall not be transferred or derived from coverage required by senior lien debt instruments.
(b) Pledged revenues for projects sponsored by other than a local governmental agency shall be a minimum of 1.15 times the amount required to make each semiannual loan repayment and shall be secured with collateral having an appraised market value not less than 125% of the total of both the dollar amount owed on the property and the dollar amount of the loan principal. The appraisal report must be less than 12 months old at the time the loan application is received. The loan applicant must own the real property in fee simple without any encumbrances on the title that would prevent sale of the property in case of default on the loan.
Pledged Revenues. For purposes of this Agreement, the term “Pledged Revenues” means Tax Revenues (as defined in the North Park Bonds Trust Indenture) but excluding therefrom Housing Tax Revenues (as defined in the North Park Bonds Trust Indenture).
Pledged Revenues. All Scheduled Payments on the Contracts received on or after the Cut-Off Date (including all Scheduled Payments due prior to, but not received as of, the Cut-Off Date, but excluding any Scheduled Payments due on or after, but received prior to, the Cut-Off Date); (ii) any Prepayments received on the Contracts on or after the Cut-Off Date (other than, in the case of a Lease Contract, any portion thereof allocated to the Depositor); (iii) the Purchase Amount of any Contracts purchased by TCC in accordance with Section 2.6 (other than any portion thereof attributable to the Book Value of the Leased Equipment); (iv) the amount paid by the Depositor to purchase the Contracts pursuant to Section 5.1; (v) that portion of the Liquidation Proceeds received in respect of any Contracts and the disposition of the related Equipment on or after the Cut-Off Date and allocated to the Issuer; (vi) that portion of any Extension Fees received on or after the Cut-Off Date and allocated to the Issuer; and (vii) any earnings on the investment of amounts credited to the Collection Account and the Note Distribution Account.
Pledged Revenues. All revenues and income derived by or for the account of the Issuer from or for the account of the Borrowers pursuant to the terms hereof, including, without limitation (i) all payments by the Borrowers on the Loan or pursuant to Section 4.07, (ii) all cash and securities held from time to time in the Trust Funds (with the exception of the Rebate Credit Account) and the investment earnings thereon, and (iii) all proceeds of any casualty insurance or condemnation awards payable with respect to the Project.
Pledged Revenues. The Pledged Revenues are hereby specifically, irrevocably and exclusively pledged by the Issuer to the Trustee to secure the punctual payment of the principal of, premium, if any, and interest on the Bonds, and shall be used for no other purpose except as otherwise expressly authorized herein.
