Repayment of Purchaser Sample Clauses

Repayment of Purchaser. If at any time a Amortization Payment is outstanding hereunder or any amounts are owed by the Authority to the Purchaser hereunder, and the City and the Authority are unable, or reasonably foresee that they will be unable, to increase Lease Payments in an amount sufficient to reimburse the Purchaser for any Amortization Payments or Default Advances which have become due and payable as required by Section 2.6 hereof, the staff of the City and the Authority shall use their respective best efforts to either: (i) provide for the substitution of new real property for the Project, such new real property to have a fair rental value sufficient to support Lease Payments sufficient to pay all Amortization Payments pursuant to Section 4.01(b) hereof, and to reimburse the Purchaser for all Obligations and pay all other obligations owing to the Purchaser hereunder, (ii) support the issuance of bonds or other certificates of participation sufficient in value to pay all Amortization Payments pursuant to Section 4.01(b) hereof, as applicable, and to reimburse the Purchaser for all Obligations and pay all other obligations owing to the Purchaser hereunder or (iii) request an appropriation, from the City’s General Fund of legally available funds in an amount sufficient to pay all Amortization Payments pursuant to Section 4.01(b) hereof, as applicable, and to reimburse the Purchaser for all Obligations and pay all other obligations owing to the Purchaser hereunder. If the Purchaser elects not to extend the Mandatory Tender Date, the City and the Authority shall use their respective best efforts to cause the conversion to or the issuance of fixed rate bonds or other certificates of participation prior to the Mandatory Tender Date sufficient in value to reimburse the Purchaser for all Obligations and pay all other Obligations owing to the Purchaser hereunder. On or prior to the third (3rd) anniversary of the Mandatory Tender Date, the City Manager and the Executive Director of the Authority shall use their best efforts to bring forward to the City Council and the Authority Governing Board a plan of finance for the conversion to or the issuance of bonds or certificates of participation sufficient in value to reimburse the Purchaser for all Obligations and pay all other obligations owing to the Purchaser hereunder no later than the (3rd) anniversary of the Mandatory Tender Date.
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Repayment of Purchaser. Notwithstanding anything to the contrary contained herein, in the event, and at such time as, the holders of Senior Indebtedness, and their respective successors and assigns, have been repaid in full all such Senior Indebtedness as described in clauses (A) through (C), inclusive, and clause (H) as it relates to clauses (A) through (C) of the definition of "Senior Indebtedness" contained in this Section 8, Subsection 1, hereof, and all obligations by the holders of Finova Debt to make Loans (as defined in the Loan Agreement) has terminated, and all preference periods under any bankruptcy laws as they might apply to the holders of Senior Indebtedness, and it successors and assigns, have expired, the restrictions set forth in this Section 8 of this Note shall not thereafter be applicable to the Holder of this Note.
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Repayment of Purchaser. If at any time an Amortization Payment is payable hereunder or any other amounts are owed by the Authority to the Purchaser hereunder, and the City and the Authority are unable, or reasonably foresee that they will be unable, to increase Lease Payments in an amount sufficient to reimburse the Purchaser for any Amortization Payments which have become due and payable as required by Section 2.02 hereof, the staff of the City and the Authority shall use their respective best efforts to either: (i) provide for the substitution of new real property for the Project, such new real property to have a fair rental value sufficient to support Lease Payments sufficient to pay all Amortization Payments pursuant to Section 2.02 hereof and all other Obligations owing to the Purchaser hereunder, (ii) support the issuance of bonds or other certificates of participation sufficient in value to pay all Amortization Payments pursuant to Section 2.02 hereof and pay all other obligations owing to the Purchaser hereunder or (iii) request an appropriation, from the City’s General Fund of legally available funds in an amount sufficient to pay all Amortization Payments pursuant to Section
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Repayment of Purchaser. Notwithstanding anything to the contrary contained herein, in the event, and at such time as, the holders of Senior Indebtedness, and their respective successors and assigns, have been repaid in full all such Senior Indebtedness as described in clauses (A) through (D), inclusive, and clause (I) as it relates to clauses (A) through (D) of the definition of
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Related to Repayment of Purchaser

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

  • THE PURCHASER AND PAYMENT OF PURCHASE PRICE 8.1 Immediately after the fall of the hammer and upon being declared the successful purchaser of the Property, the Purchaser shall execute the memorandum attached hereto (`the Memorandum’). 8.2 The signed Memorandum together with these conditions of sale and the Proclamation of Sale shall in their entirety form the contract for the sale and purchase of the Property (`the Contract of Sale’). 8.3 The last bid which is the highest bid accepted by the Auctioneer and upon which the Property is sold to the Purchaser shall be the purchase price for the Property (`the Purchase Price’). 8.4 Upon successful bid of the property by the bidder, the Bidding Deposit deposited by the bidder pursuant to clause 3.1 shall be paid to the Bank immediately upon execution of the Contract of Sale (“ the Purchase Deposit) 8.5 In the event that the Purchase Price is higher than the Reserve Price, the Purchaser shall immediately deposit with the Auctioneer as stakeholder a sum equivalent to the difference between Purchase Deposit and the Bidding Deposit (`the Purchase Deposit Shortfall’) either in cash or by way of a valid bank draft or cashier’s order drawn in favour of the Bank which together will form the Purchase Deposit. 8.6 The Auctioneer shall upon receipt of the Purchase Deposit release the said sum, bank draft and/or cashier’s order to the Bank. 8.7 In the event that the Purchaser shall fail to deposit the Purchase Deposit Shortfall or shall fail to execute the Memorandum for any reason whatsoever or in the event of the bank draft and/or cashier’s order for the Bidding Deposit and/or the Purchase Deposit Shortfall is dishonored for any reason whatsoever when presented by the Bank for payment, the Purchaser shall be deemed to have committed a breach of the terms of the Auction Sale and the consequences set out in paragraph 8.8 hereto shall ensue. 8.8 In the event that the Purchaser shall commit a breach, the Bidding Deposit shall be forfeited absolutely to the Bank and the Bank may in its absolute discretion upon such terms and conditions and at such time or times the Bank deems fit put the Property up for resale. The Bank shall be further entitled to recover from the Purchaser all costs and expenses of, in connection with and resulting from such resale. The Purchaser shall be further liable to the Bank for any shortfall in the sale price obtained at the resale and the Purchase Price (`the Resale Shortfall’). A certificate duly signed by an authorized officer of the Bank as to amount of the Resale Shortfall and the costs and expenses of, in connection with resulting from such resale shall be accepted by the Purchaser as binding correct and conclusive for all purposes including for legal proceedings. The certified amount shall be paid by the Purchaser to the Bank not later than seven (7) days from the date of the demand made by the Bank. 8.9 Notwithstanding anything herein contained, the amount representing the difference between the Purchase Price and the Purchase Deposit (“Balance Purchase Price”) shall be paid by the Purchaser directly to the Bank without any set-off not later than NINETY (90) DAYS from the date of the Contract of Sale (`the Due Date’). 8.10 The Balance Purchase Price shall be paid to the Bank by way of bank draft or cashier’s order drawn in favour of the Bank or E-Payment or any mode of payment which acceptable by the Bank. 8.11 Upon the written request by the Purchaser before the expiry date, the Bank in its absolute discretion may but shall be under no obligation to extend the Due Date for such period or periods the Bank deems fit (`the Extended Due Date’). 8.12 The Purchaser shall have prior to twenty one (21) days of the Due Date, the Purchaser shall issue a written request to the Assignee/Bank applying for an extension of time and the Bank may in it’s absolute discretion (i) agree to grant the extension of time unconditionally, or (ii) refuse the request, in which case the 10% of the successful bid shall be forfeited, or (iii) agree to grant an extension of time subject to conditions (including but not limited to imposition of late payment interest/charges/compensation at such rate/amount as the Bank shall determine) without assigning any reasons whatsoever and such decision shall be binding on the Purchaser. The interest on late payment if imposed by the Bank may be in the form of advance payment of interest for the extension period or otherwise is final and not refundable. 8.13 In the event that the Purchaser for any reason whatsoever (save and except where it is due to the default of the Bank) fails to pay the Balance Purchase Price by the Due Date or the Extended Due Date, as the case may be, the Purchaser shall be deemed to be in breach of the Contract of Sale, and all monies paid to the Bank upon the execution of the Contract of Sale including the Purchase Deposit shall be forfeited absolutely by the Bank and the consequences as set out in paragraph 8.8 shall ensue.

  • Payment of Purchase Price for the Mortgage Loans (a) In consideration of the sale of the Mortgage Loans from the Seller to the Purchaser on the Closing Date, the Purchaser agrees to transfer to the Seller on the Closing Date the purchase price for the Mortgage Loans provided in the Adoption Annex. (b) Reserved.

  • SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE Section 2.01. Sale of the Mortgage Loans.............................4 Section 2.02. Obligations of Seller Upon Sale........................4 Section 2.03. Payment of Purchase Price for the Mortgage Loans.......7

  • Lists of Purchasers Concurrently with the delivery of any Reserve Report to the Administrative Agent pursuant to Section 8.12, a list of all Persons purchasing Hydrocarbons from any Loan Party (or, with respect to Oil and Gas Properties that are not operated by a Loan Party, a list of the operators of such properties).

  • Amount of Purchase Price The purchase price (“Purchase Price”) per Share for each Share which Optionee is entitled to purchase under the Options shall be $2.25 per Share.

  • Status of Purchasers Such Purchaser is an “accredited investor” as defined in Regulation D promulgated under the Securities Act. Such Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act and such Purchaser is not a broker-dealer.

  • Status of Purchaser The Purchaser is a corporation duly incorporated, validly existing and in good standing and has the power and capacity to enter into this Agreement and carry out its terms; and

  • Adjustment of Purchase Price (a) On or before 12:00 noon, Eastern time, on the thirtieth (30th) calendar day following the Closing Date, Seller shall deliver to Purchaser the Final Closing Statement and shall make available the work papers, schedules and other supporting data used by Seller to calculate and prepare the Final Closing Statement to enable Purchaser to verify the amounts set forth in the Final Closing Statement. (b) The determination of the Adjusted Payment Amount shall be final and binding on the parties hereto on the thirtieth (30th) calendar day after receipt by Purchaser of the Final Closing Statement, unless Purchaser shall notify Seller in writing of its disagreement with any amount included therein or omitted therefrom, in which case, if the parties are unable to resolve the disputed items within ten (10) Business Days of the receipt by Seller of notice of such disagreement, such items in dispute (and only such items) shall be determined by a nationally recognized independent accounting firm selected by mutual agreement between Seller and Purchaser, and such determination shall be final and binding. Such accounting firm shall be instructed to resolve the disputed items within ten (10) Business Days of engagement, to the extent reasonably practicable. The fees of any such accounting firm shall be divided equally between Seller and Purchaser. (c) On or before 12:00 noon, Eastern time, on the fifth (5th) Business Day after the Adjusted Payment Amount shall have become final and binding or, in the case of a dispute, the date of the resolution of the dispute pursuant to Section 3.3(b), if the Adjusted Payment Amount exceeds the Estimated Payment Amount, Seller shall pay to Purchaser an amount in U.S. dollars equal to the amount of such excess, plus interest on such excess amount from the Closing Date to but excluding the payment date, at the Federal Funds Rate or, if the Estimated Payment Amount exceeds the Adjusted Payment Amount, Purchaser shall pay to Seller an amount in U.S. dollars equal to the amount of such excess, plus interest on such excess amount from the Closing Date to but excluding the payment date, at the Federal Funds Rate. Any payments required by Section 3.4 shall be made contemporaneously with the foregoing payment.

  • Rights of Purchaser The Capital Securities shall be offered and sold by the Trust directly to the Purchaser without registration of any of the Capital Securities, the Debentures or the Guarantee under the Securities Act of 1933, as amended (the "Securities Act"), or any other applicable securities laws in reliance upon exemptions from the registration requirements of the Securities Act and other applicable securities laws. The Offerors agree that this Agreement shall be incorporated by reference into the Subscription Agreement and the Purchaser shall be entitled to each of the benefits of the Placement Agents and the Purchaser under this Agreement and shall be entitled to enforce obligations of the Offerors under this Agreement as fully as if the Purchaser were a party to this Agreement. The Offerors and the Placement Agents have entered into this Agreement to set forth their understanding as to their relationship and their respective rights, duties and obligations.

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