PROJECT DEVELOPMENT LOAN TERMS Sample Clauses

PROJECT DEVELOPMENT LOAN TERMS. Each of the Project Development Loans shall bear simple interest on any unpaid principal balance at an annual rate of 1% over the "High Wall Street Journal Prime Lending Rate" as defined in the money rate section of the Wall Street Journal (the "Prime Rate"), compounded annually if not paid earlier. Interest on each Project Development Loan shall accrue only on funds actually advanced by Lakes to the borrowing Project Company, beginning when such funds are advanced. The interest rate shall be adjusted monthly, based upon the Prime Rate on the first business day of each month; and that interest rate shall apply to all advances and loan balances remaining unpaid by the borrower during that month. The principal balance of the Project Development Loan made to each Project Company shall be amortized over sixty (60) months from the date when the Project is first open for gaming to the general public. If any advances occur on a Project Development Loan after that date, the new principal balance shall be re-amortized over the balance of that period. Subject to any such re-amortization, each Project Development Loan shall be repaid in equal monthly payments of principal, plus accrued interest. The first payment on the Project Development Loan made to each Project Company shall be due and shall be made on the 20th day of the first full month beginning after the date the Tribe involved with that Project Company makes its first payment of variable lease fees (as defined in its Project Contracts) to the Project Company. Each Project Company shall grant Lakes a security interest in all of the assets of the Project Company, including without limitation all of its Project Assets and all loan payments and lease fees due to the Project Company from the Tribe involved with that Project Company, to secure payment of the Project Development Loan and that portion of the Buy-out Reimbursement Loan assumed by that Project Company pursuant to Section 5. Each of such loan obligations of a Project Company shall also be cross-collateralized by the assets of the other Project Company. Except as otherwise set forth below in this Section 4 or in Section 10, the loan payments on each Project Development Loan shall be made after the payment of Overhead Fees (as defined in Section 10) to both parties. If Net Cash Flows (as defined in Section 9) of one Project Company are insufficient to make the full Project Development Loan payment due from such Project Company, the unpaid amount shall be...
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Related to PROJECT DEVELOPMENT LOAN TERMS

  • Initial Development Plan Not later than the Effective Date, Licensee shall have provided Merck with an initial Development plan for the Licensed Product in the Field in the Territory, which shall be incorporated as part of this Agreement as Attachment 3.02(a) (as may be amended in accordance with this Agreement, the “Development Plan”). **CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND WILL BE FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST.

  • Information Systems Acquisition Development and Maintenance a. Client Data – Client Data will only be used by State Street for the purposes specified in this Agreement.

  • Project Description The Project Description may be changed from time to time by, or with the consent of, the Company provided that any such change shall also be filed with the Issuer and provided further that no change in the Project Description shall materially change the function of the Project Facilities unless the Trustee shall have received (i) an Engineer's certificate that such changes will not impair the significance or character of the Project Facilities as Pollution Control Facilities and (ii) an Opinion of Bond Counsel or ruling of the Internal Revenue Service to the effect that such amendment will not adversely affect the exclusion of interest on the Bonds from gross income for federal income tax purposes.

  • Development Agreement That certain Development Agreement dated of even date herewith by and between the Company and Developer providing for the development of the Project on the Property, a copy of which is attached hereto as Exhibit C and incorporated herein by reference. Development Fee. As described in Section 6.8.

  • Project Plan Based on the Project Specifications, Omnicare CR has provided a description of services to be performed for Sponsor’s “A multi-center, randomized, double-blind, double-dummy, vehicle-controlled sequential cohort study to determine the safety of PEP005 0.025% and 0.05% topical gel in patients with actinic keratoses” (hereinafter “the Project”) and associated costs. Changes made in the Project scope, at any time during the Project, will result in a corresponding adjustment to the Project costs.

  • Development Schedule The schedule for design and development of the "BASE BUILDING WORK" (as defined below) and the "TENANT IMPROVEMENTS" (as defined below), including, without limitation, the time periods for preparation, delivery, review, and approval of construction documents and performance pursuant to such documents, shall be in accordance with the Development Schedule attached hereto as Schedule A, subject to adjustment as mutually agreed by the parties in writing or as provided in this Work Letter (the "DEVELOPMENT SCHEDULE").

  • Research Program Funding 3.1.1 Pfizer will fund the research to be performed by Rigel, pursuant to the Agreement, according to the following schedule: COMMITMENT YEAR ANNUAL COMMITMENT 1 $2,350,000.00 2 $2,350,000.00 The funding payments of two million three hundred and fifty thousand dollars ($2,350,000.00) shall support the work of the equivalent of ten (10) full time employees ("FTEs") of Rigel.

  • Development Funding (a) Viewray will pay 3D Line the then U.S. Dollar equivalent of €[***] within three (3) days of the Effective Date for the engineering services required to develop/ deliver the Deliverable described in Section 2.1(a)(i).

  • Development Plan As defined in Section 3.2(a).

  • Commercialization Reports After the First Commercial Sale of a Licensed Product anywhere in the Territory, LICENSEE shall submit to Cornell semi-annual reports on or before each February 28 and August 31 of each year. Each report shall cover LICENSEE’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar half-year and shall show:

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