Source of Reimbursement. The City shall make payments for reimbursement of Redevelopment Project Costs from the Tax Increment Fund on a Pay As You Go basis in the order of priority set forth in Section 6.01. The City shall make payments for reimbursement of TDD Costs from the TDD Sales Tax Fund on a Pay As You Go basis in the order of priority set forth in Section 6.02. Developer and the City acknowledge and agree that Developer’s expenses may be certified for reimbursement both as a Redevelopment Project Cost and as a TDD Cost, to the extent such expenses are eligible for reimbursement under both Funds pursuant to this Agreement and Kansas law. Any such expenses certified as both a Redevelopment Project Cost and a TDD Cost shall be the last expenses reimbursed by both Funds. To the extent Developer certifies Redevelopment Project Costs in excess of the North Project TIF Cap, such excess (the “TIF Excess”) shall be attributed to those Redevelopment Project Costs that are also certified as TDD Costs (regardless of when certified). Until the Tax Increment Fund has reimbursed Developer for all Redevelopment Project Costs not also certified as TDD Costs, plus interest, all reimbursements from the Tax Increment Fund shall first be applied to accrued but unpaid interest in such Fund, and then to a reduction in the principal balance of Redevelopment Project Costs not also certified as TDD Costs, all as set forth in Section 6.01. No disbursement from the Tax Increment Fund shall offset or affect the outstanding reimbursable balance of TDD Costs unless and until the Tax Increment Fund reimburses Developer for Redevelopment Project Costs that are also certified as TDD Costs, plus interest. In no event, however, shall the principal balance of TDD Sales Tax Fund be reduced below the TIF Excess, plus TDD Costs not also certified as Redevelopment Project Costs, plus interest, except as a result of disbursements to Developer from the TDD Sales Tax Fund.
Source of Reimbursement. The City shall make payments from the Tax Increment Fund on a Pay As You Go basis in the order of priority set forth in Section 6.02.
Source of Reimbursement. Subject to the terms of this Agreement and the conditions in this Section, and provided that no Developer Event of Default has occurred hereunder that has not been timely cured, then the Unified Government hereby agrees to reimburse Developer for Reimbursable Project Costs on a "Pay As You Go" basis in a total amount not to exceed the Reimbursable Project Costs Cap. On a bi-annual basis, the Unified Government hereby agrees that Developer shall be reimbursed for its Reimbursable Project Costs solely from the Real Property Tax Revenues available at such time (the "Pay As You Go" method). The Parties agree that all reimbursement to the Developer shall be made only on a Pay As You Go basis, and nothing in this Agreement shall in any way obligate the Unified Government to issue bonds or other obligations to reimburse Developer. The Parties also agree that nothing in this Agreement shall in any way obligate the Unified Government to reimburse Developer for (i) any cost that is not a Reimbursable Project Cost, or (ii) any Reimbursable Project Costs in excess of the Reimbursable Project Costs Cap.
Source of Reimbursement. The City shall: (i) reimburse the Developer or its designee from the TDD Sales Tax Fund established pursuant to the Act and this Agreement for all actual Reimbursable Project Costs, subject to the Reimbursable Costs Cap, on a Pay As You Go basis; or (ii) make moneys in the TDD Sales Tax Fund available for the purpose of repaying Obligations, subject to the Reimbursable Costs Cap. The City shall not be required to provide any enhancement to any Obligations. The parties acknowledge and agree that the estimated reimbursable TDD Costs do not purport to cap any particular line item of costs set forth on Exhibit C, and that amounts reimbursable to Developer shall include any and all actual costs incurred for any cost category, provided that in no event will the aggregate principal amount to be reimbursed to the Developer related to TDD Costs exceed the Reimbursable Costs Cap. In administering the TDD Sales Tax Fund, the City shall create such accounts and sub-accounts as shall be required by the Act or documents authorizing the issuance of the Obligations.
