Common use of PSL Contribution Amount Clause in Contracts

PSL Contribution Amount. The PSL Contribution Amount shall be funded as (i) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall enter into agreements for the sale of, PSLs in the Stadium in accordance with Section 32(1) of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by Section 32(2) of the Act. (ii) In accordance with Section 32(5) of the Act, the Authority shall establish a [ ] ($[ ])2 purchase and sale facility with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility including the cooperation required under this Section. (iii) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount shall be funded asas follows: (i) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall enter into agreements for the sale of, PSLs in the Stadium in accordance with Section 32(1) of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by Section 32(2) of the Act. (ii) In accordance with Section 32(5) of the Act, the Authority shall establish a [ ] ($[ ])2 purchase and sale facility in an amount not less than $250,000,000 with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility including the cooperation required under this Section. (iii) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount shall be funded asas follows: (i) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall enter into agreements for the sale of, PSLs in the Stadium in accordance with Section 32(1) of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, PSLs and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by Section 32(2) of the Act. (ii) In accordance with Section 32(5) of the Act, the Authority shall establish a [ ] ($[ ])2 purchase and sale facility with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility including the cooperation required under this Section. (iii) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount Amount, if any, shall be funded asas follows: (ia) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall may, in consultation with StadCo and TeamCo and subject to the final sentence of this Section 3.6(a), enter into agreements for the sale of, PSLs in the Stadium in accordance with subsections 1 and 2 of Section 32(1) 27 of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by subsection 2 of Section 32(2) 27 of the Act. Notwithstanding the foregoing, the Authority and StadCo acknowledge and agree that all agreements for the sale of PSLs (and all agreements for the sale, transfer, pledge, hypothecation, assignment or mortgage of any revenues derived from the sale of PSLs made in connection with the financing of the PSL Contribution Amount) shall comply with MLB Rules and Regulations, and StadCo shall submit all documentation in connection with any such agreement to MLB in advance of entering into any such agreement to confirm that such proposed sale (or other applicable transaction) complies with all applicable MLB Rules and Regulations. (iib) In accordance with subsection 4 of Section 32(5) 27 of the Act, and with the consent of StadCo and TeamCo and in accordance with MLB Rules and Regulations (including, for the avoidance of doubt, providing all documentation in connection with establishing the PSL Purchase and Sale Facility to MLB in advance of executing any PSL Purchase and Sale Agreement to confirm that such PSL Purchase and Sale Facility complies with all applicable MLB Rules and Regulations), the Authority shall may establish a [ ] ($[ ])2 purchase and sale facility with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-out- of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility Facility, including the cooperation required under this SectionSection 3.6. (iiic) The If the Authority establishes the PSL Purchase and Sale Facility in accordance with this Section 3.6, the Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount shall be funded as (i) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall enter into agreements for the sale of, PSLs in the Stadium in accordance with Section 32(1) of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by Section 32(2) of the Act. (ii) In accordance with Section 32(5) of the Act, the Authority shall establish a [ ] ($[ ])2 purchase and sale facility in an amount not less than $250,000,000 with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility including the cooperation required under this Section. (iii) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount shall be funded asas follows: (ia) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall may enter into agreements for the sale of, PSLs in the Stadium in accordance with subsection 1 of Section 32(1) 27 of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by subsection 2 of Section 32(2) 27 of the Act. (iib) In accordance with subsection 4 of Section 32(5) 27 of the Act, the Authority shall may establish a [ ] ($[ ])2 purchase and sale facility with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility Facility, including the cooperation required under this SectionSection 3.6. (iiic) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.

PSL Contribution Amount. The PSL Contribution Amount shall be funded asas follows: (i) The Authority shall retain the sole and exclusive right to enter into agreements for the sale of, and shall enter into agreements for the sale of, PSLs in the Stadium in accordance with Section 32(1) of the Act. In addition, the Authority shall 1 Note to Draft – Authority to provide projections of available pay/go funds through end of April, net of any amounts required to be paid from such funds as permitted in the Act. StadCo to provide projection of Project Costs to be paid through end of April. County to provide projection of needed reserves. retain TeamCo to act as the PSL Agent for the marketing of, solicitation of orders for, and sales of, PSLs, and the execution and delivery of all PSL Contracts pursuant to the PSL Marketing and Sales Agreement, as permitted by Section 32(2) of the Act., (ii) In accordance with Section 32(5) of the Act, the Authority shall establish a [ ] ($[ ])2 purchase and sale facility in an amount not less than $250,000,000 with respect to revenues associated with PSLs in the Stadium (the “PSL Purchase and Sale Facility”) by executing and delivering to the appropriate parties the PSL Purchase and Sale Agreement contemporaneously with the initial construction costs closing under the FinanceCo Credit Facility, and by otherwise providing such cooperation as may be reasonably required to consummate in a timely and efficient manner the transactions related to the PSL Purchase and Sale Agreement. Such cooperation shall include delivery by legal counsel to the Authority of usual and customary legal opinions (including without limitation a so-called ‘true-sale’ opinion) in such form as the FinanceCo Agent may reasonably require, which delivery shall be at StadCo’s cost and expense. StadCo shall pay to the Authority all reasonable and documented out-of-pocket costs and expenses incurred by the Authority in connection with the administration of the PSL Purchase and Sale Facility including the cooperation required under this Section. . (iii) The Authority shall consummate PSL Revenue Sales under the PSL Purchase and Sale Facility in accordance with the terms of the PSL Purchase and Sale Agreement, and the net proceeds of such PSL Revenue Sales shall be deposited into the Construction Funds Trust, for allocation to the Project Account established for deposit of the PSL Contribution Amount (the “PSL Contribution Trust Account”). Such deposits shall be made by wire transfer of federal funds. The PSL Agent shall have no ownership interest in proceeds generated from the Authority’s sale of PSLs.