Redemption and Improvement Requirement Sample Clauses

Redemption and Improvement Requirement. 1. The Bond Redemption and Improvement Requirement shall mean an amount not to exceed the lesser of (i) the amount of Debt Service Reserve Surety Bonds fulfilling City’s Sinking Fund Reserve Requirements or (ii) twenty five percent (25%) of the Debt Service Requirement thereafter. City hereby provides its written direction pursuant to Section 4.06 of the Bond Ordinance that the Bond Redemption and Improvement Account may be funded with amounts remaining, if any, following any and all transfers required by Section 4.06 of the Bond Ordinance. 2. Notwithstanding the foregoing, for each and every Fiscal Year during the Term of this Agreement, the interest earned on the balance of the Bond Redemption and Improvement Account shall first be used to reduce the Bond Redemption and Improvement Requirement for the following Fiscal Year and the remaining interest and any excess balance in the Bond Redemption and Improvement Account due to a reduction in the Debt Service Requirement, if any, shall be transferred to the Aviation Operating Fund and then allocated to the Airport Cost Centers in proportion to the Debt Service Requirement for each such Airport Cost Center as a Non-Airline Revenue. 3. The net Bond Redemption and Improvement Requirement shall be allocated on the basis of Debt Service Requirements to the Airport Cost Centers.
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Redemption and Improvement Requirement. 1. The Bond Redemption and Improvement Requirement shall mean an amount not to exceed twenty five percent (25%) of the maximum outstanding annual Debt Service Requirement net of PFC revenues. City hereby provides its written direction pursuant to Section 4.06 of the Bond Ordinance that the Bond Redemption and Improvement Account may be funded with amounts remaining, if any, following any and all transfers required by Section 4.06 of the Bond Ordinance. 2. Notwithstanding the foregoing, for each and every Fiscal Year during the Term of this Agreement, the interest earned on the balance of the Bond Redemption and Improvement Account shall first be used to reduce the Bond Redemption and Improvement Requirement for the following Fiscal Year. 3. The remaining interest and any excess balance in the Bond Redemption and Improvement Account due to a reduction in the maximum outstanding Debt Service Requirement net of PFC revenues shall be transferred to the Aviation Operating Fund and then allocated to the 4. The net Bond Redemption and Improvement Requirement shall be allocated on the basis of Debt Service Requirements to the Airport Cost Centers.

Related to Redemption and Improvement Requirement

  • Maintenance, Alteration and Repair (a) Resident is responsible for and agrees to take good care of the premises, fixtures and all common areas. Resident may not remove any of Owner’s property and will not perform any repairs, upgrades, painting, wallpapering, electric changes or other alterations of the premises without prior written consent from Owner. Resident will be responsible for damage from waste stoppages caused by foreign or improper objects or improper use in lines serving bathrooms, damage to fixtures, appliances, doors, windows, screens, damage from water faucets left on or from doors left open, and repairs or replacements to alarm devices necessitated by misuse or damage by Resident and/or guests. Extraordinary appliances or furnishings such as satellite dishes, hot tubs, pool tables, water beds or high utility- consuming devices may not be installed or placed on the premises or anywhere at the Property without Owner’s prior written consent, in its sole discretion. (b) In the case of a malfunction of any utilities or damage by fire, water or similar cause, or any water leak, suspected mold or microbial growth, electrical problem, broken glass, broken lock or any other condition that Resident reasonably believes poses a hazard to health and safety, Resident must promptly notify Owner in writing. Owner will act with reasonable time and diligence in making repairs and reconnections; Resident may not withhold or reduce payment of rent or other charges during such time. Maintenance and repair requested by Resident will generally be performed between 8am and 8pm, unless the work is considered an emergency, in which case work may take place at any time. Owner may temporarily disconnect equipment or utilities to avoid property damage and/or to perform repairs requiring such interruption, in Owner’s sole discretion. Owner will not be liable for any inconvenience, discomfort, disruption or interference with Resident use of the premises because of ongoing repairs, alterations or improvements to the Property or any apartment. (c) Following move-in, Resident is responsible for providing and changing all light bulbs and batteries (for smoke detectors and remote controls) in the assigned apartment. A written maintenance report requesting assistance in changing these items may be submitted for maintenance staff assistance, with extra charges payable by Resident as applicable per Owner’s published rates. From time to time, maintenance staff may enter the assigned apartment with or without notice to inspect and change furnace filters and to provide pest control.

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