Common use of Repayment of Authority Loan Clause in Contracts

Repayment of Authority Loan. The City shall repay the Authority Loan to the Authority promptly upon receipt of RPTTF moneys for the ROPS 14-15B period, and for and during each subsequent ROPS periods, if necessary, from Successor Agency, in repayment of the City Loan. City shall repay all or a portion of the outstanding principal balance of the Authority Loan to the Authority on or before five (5) working days following the date the Successor Agency delivers each total or partial payment to the City under the City Loan.

Repayment of Authority Loan. The City shall repay the Authority Loan to the Authority promptly upon receipt of RPTTF moneys for the ROPS 14-15B period, and for and during each subsequent ROPS periods, if necessary, from Successor Agency, in repayment of the City Loan. City shall repay all or a portion of the outstanding principal balance of the Authority Loan to the Authority on or before five (5) working days following the date the Successor Agency delivers each total or partial payment to the City under the City Loan.the