PROHIBITION AGAINST ENCUMBRANCES. The Project Sponsor is prohibited from selling, leasing, or disposing of any part of the Water or Sewer System which would materially reduce operational integrity or Gross Revenues so long as this Agreement, including any amendments thereto, is in effect unless the written consent of the Department is first secured.
Appears in 3 contracts
Samples: Drinking Water State Revolving Fund Construction Loan Agreement, State Revolving Fund Loan Agreement, Drinking Water State Revolving Fund Construction Loan Agreement
PROHIBITION AGAINST ENCUMBRANCES. The Project Sponsor is prohibited from selling, leasing, or disposing of any part of the Water or Sewer Utility System which would materially reduce operational integrity or Gross Revenues so long as this Agreement, including any amendments thereto, is in effect unless the written consent of the Department is first secured. The Project Sponsor may be required to reimburse the Department for the Principal Forgiveness funded cost of any such part, taking into consideration any increase or decrease in value.
Appears in 2 contracts
Samples: Drinking Water State Revolving Fund Planning, Design and Construction Loan Agreement, Drinking Water State Revolving Fund Construction Loan Agreement
PROHIBITION AGAINST ENCUMBRANCES. The Project Sponsor is prohibited from selling, leasing, or disposing of any part of the Water or Sewer System which would materially reduce operational integrity or Gross Revenues so long as this Agreement, including any amendments thereto, is in effect unless the written consent of the Department is first secured. The Project Sponsor may be required to reimburse the Department for the Principal Forgiveness funded cost of any such part, taking into consideration any increase or decrease in value.
Appears in 1 contract
Samples: Drinking Water State Revolving Fund Construction Loan Agreement
PROHIBITION AGAINST ENCUMBRANCES. The Project Sponsor is prohibited from selling, leasing, or disposing of any part of the Water or Sewer System which would materially reduce operational integrity or Gross Revenues so long as this Agreement, including any amendments thereto, is in effect unless the written consent of the Department is first secured. The Project Sponsor may be required to reimburse the Department for the Principal Forgiveness funded cost of any such part, taking into consideration any increase or decrease in value.
Appears in 1 contract
Samples: Drinking Water State Revolving Fund Construction Loan Agreement
