Project Obligation Funding of the District Project Sample Clauses

Project Obligation Funding of the District Project. (a) Pursuant to Article V of the Redevelopment Agreement, the City will issue (or cooperate in the issuance by another issuer of) tax increment financing notes, bonds or other obligations (the “Project Obligations”) to reimburse the Developer for eligible costs incurred or advanced toward the Work, as defined in the Redevelopment Agreement. The Parties agree that the District Project is part of such Work. Accordingly, the District shall, subject to annual appropriation, transfer all District Revenues (as defined in the Redevelopment Agreement) collected by the District, after payment of District Expenses (as defined below), to the Trustee (or otherwise at the direction of the City) on the 20th day of each month (or if the 20th is not a business day for City or Trustee offices, the next day that City or Trustee offices are open) for deposit into the District Revenues Account of the appropriate fund described in the Redevelopment Agreement or indenture for the Project Obligations for application as described in such documents (the Parties acknowledge that Section 3.12(d) of the Redevelopment Agreement allows the District to retain the “Price Crossing Revenues” described below for other purposes and that the Price Crossing Revenues will not be included in the amounts transferred to the Trustee unless the District, in its sole discretion, chooses to do so). Such transfer shall be accompanied by a report in substantially the form of Exhibit A attached hereto. If the District has no District Revenues to transfer to the Trustee pursuant to the preceding sentence, the District shall so notify the Trustee in writing on or before the date on which such transfer would otherwise be required.
Sample 1
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Project Obligation Funding of the District Project. (a) Pursuant to Article V of the Redevelopment Agreement, the City will issue (or cooperate in the issuance by another issuer of) tax increment financing notes, bonds or other obligations (the “Project Obligations”) to reimburse the Developer for eligible costs incurred or advanced toward the Work, as defined in the Redevelopment Agreement. The Parties agree that the District Project is part of such Work. Accordingly, the District shall, subject to annual appropriation, transfer all District Revenues (as defined in the Redevelopment Agreement) collected by the District to the City (or, at the direction of the City, the Trustee) on the 15th day of each month (or if the 15th is not a business day for City offices, the next day that City offices are open) for deposit into the District Revenues Account of the appropriate fund described in the Redevelopment Agreement for application as described in such documents. The City agrees that all ordinances or indentures entered into in connection with the Project Obligations will provide for the distribution of District Expenses prior to payment of debt service on the Project Obligations. If the applicable ordinance or indenture does not provide for the distribution of District Expenses to the District, the District may withhold District Expenses from the transfer of District Revenues to the City or the Trustee. “
Sample 1
Project Obligation Funding of the District Project. (a) Pursuant to Article V of the Redevelopment Agreement, the City will issue (or cooperate in the issuance by another issuer of) tax increment financing notes, bonds or other obligations (the “Project Obligations”) to reimburse the Developer for eligible costs incurred or advanced toward the Work, as defined in the Redevelopment Agreement. The Parties agree that the District Project is part of such Work. Accordingly, the District shall, subject to annual
Sample 1
Project Obligation Funding of the District Project. (a) Pursuant to Article V of the Redevelopment Agreement, the City will issue (or cooperate in the issuance by another issuer of) tax increment financing notes, bonds or other obligations (the “Project Obligations”) to reimburse the Developer for eligible costs incurred or advanced toward the Work, as defined in the Redevelopment Agreement. The Parties agree that the District Project is part of such Work. Accordingly, the District shall, subject to annual appropriation, transfer 50% of the District Revenues attributable to the District Sales Tax to the City (or, at the direction of the City, the Trustee) on the 15th day of each month (or if the 15th is not a business day for City offices, the next day that City offices are open) for deposit into the EATS Account of the Special Allocation Fund for application as described in the Redevelopment Agreement. In addition, unless the District elects to issue Separate District Obligations, the District shall, subject to annual appropriation, transfer all other District Revenues (i.e., the portion of District Sales Tax revenues not required to be deposited into the Special Allocation Fund by operation of the TIF Act) to the City (or, at the direction of the City, the Trustee) for deposit into the District Revenues Account of the Special Allocation Fund for application as described in the Redevelopment Agreement.
Sample 1

Related to Project Obligation Funding of the District Project

  • District Obligations District shall:

  • Responsibilities of the District 12.1. The District shall examine the documents submitted by the Architect and shall render decisions so as to avoid unreasonable delay in the process of the Architect’s Services.

  • Additional Obligations of Applicant Section 8.1.

  • Payment and Performance Bonds The Contractor shall comply with the following minimum bonding requirements:

  • CONCENTRATIONS OF CREDIT (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with OCC Banking Circular 255. The program shall include, but not necessarily be limited to, the following:

  • Funding Obligation This Contract is contingent upon the continued availability of funding. If funds become unavailable through lack of appropriations, budget cuts, transfer of funds between programs or health and human services agencies, amendment to the Appropriations Act, health and human services agency consolidation, or any other disruptions of current appropriated funding for this Contract, DSHS may restrict, reduce, or terminate funding under this Contract.

  • Obligations of the Student The Student undertakes to assist the Tutor in identifying problem areas in which the Student needs specific tutoring. * The Student agrees that assignments, exercises or homework form an integral part of tutoring and undertakes to complete such work timely.

  • Funding Obligations 6.1 Grantee acknowledges that HHSC’s obligation for payment, in consideration of full and satisfactory performance of activities described in this Contract, is limited to monies received from the Administration on Aging (“AoA”), the State, and any other funding source.

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Performance/Bid Bond and Letter Of Credit There are no bonds required for the Contract resulting from this Solicitation. In accordance with Appendix B, section 45, Performance/Bid Bond, the Commissioner of OGS has determined that no performance, payment or Bid bond, or negotiable irrevocable letter of credit or other form of security for the faithful performance of the Contract shall be required at any time during the initial term, or any renewal term, for the resulting Contract and Authorized User Agreements.

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