Structure of H/MT Revenue Bond Offering Sample Clauses

Structure of H/MT Revenue Bond Offering. Invest Atlanta agrees to issue the H/MT Revenue Bonds as contemplated by this Article V. A portion of the proceeds of the H/MT Revenue Bonds in an amount sufficient to provide for the payment of interest on the H/MT Revenue Bonds from the Final Closing through July 1, 2017, will be deposited into a capitalized interest account to be held by the trustee for the benefit of the holders of the H/MT Revenue Bonds (the “H/MT Revenue Bond Trustee”). July 1, 2017 is the date on which GWCCA currently expects, based on historical H/MT collections, that the H/MT will have generated sufficient revenues to enable the GWCCA to retire the GWCCA’s Oustanding Refunding Revenue Bonds (Domed Stadium Project) Series 2011 (the “Georgia Dome Bonds”) prior to their stated maturity date of July 1, 2020. The GWCCA makes no assurances that the Georgia Dome Bonds will be paid in full on July 1, 2017. To ensure that the Georgia Dome Bonds can be paid in full on or prior to July 1, 2017, at the Final Closing, the Club will provide a letter of credit (or such other security acceptable to the holder of the Georgia Dome Bonds) to the corporate trustee for the Georgia Dome Bonds (the “Georgia Dome Bond Trustee”) providing that, in the event the Georgia Dome Bonds have not been paid in full on or before July 1, 2017, such letter of credit (or such other security) shall be drawn upon for the purpose of providing for the payment in full of the Georgia Dome Bonds on July 1, 2017. The H/MT Revenue Bonds may not be secured by the H/MT proceeds until payment in full of the Georgia Dome Bonds pursuant to Section 8.02 of the Georgia Dome Trust Indenture or the release of the lien on H/MT Proceeds by the holder of the Georgia Dome Bonds (either event being referred to herein as “Payment in Full of the Georgia Dome Bonds”).
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Related to Structure of H/MT Revenue Bond Offering

  • Notice to Proceed - Land Acquisition The acquisition of the Land shall not occur until the Director has issued a written Notice to Proceed for land acquisition to the Recipient (the "Notice to Proceed"). Such Notice to Proceed will not be issued until the Director has received a Request to Proceed acceptable to the Director and is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and any requirements for land acquisition set forth in this Agreement, including without limitation the OPWC's approval of the proposed Deed Restrictions and Title Agent. The Notice to Proceed also shall specify the time frame for the Closing.

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  • Land Acquisition Disbursement To initiate the purchase of the Land, the Recipient must first complete and submit a written Request to Proceed to the Director prior to Closing. The Request to Proceed must name the proposed Title Agent and must indicate the amount of Funds requested from the OPWC for the land acquisition, including expected settlement costs, based upon the participation ratio and the amount of funds expected from any Matching Funds. The Request to Proceed must contain as attachments: (a) a copy of the proposed Deed Restrictions; (b) a copy of the executed purchase agreement with respect to, or such other agreement to convey an interest in, the Land between the Recipient and the Land owner; (c) a copy of the performed appraisal according to the specifications provided by the Director; (d) evidence satisfactory to the Director that Recipient will acquire marketable title to the Land at Closing; and (d) if the Recipient desires to elect the pre-closing option described below (i) a copy of the signed escrow agreement among Recipient, Title Agent and the OPWC, executed by Recipient and Title Agent, substantially in the form of Appendix F of this Agreement (the "Escrow Agreement") and (ii) if the Title Agent is an agent for a title insurance company, rather than a title company itself, a closing protection letter issued by the title insurance company to the OPWC. Funds for land acquisition shall be disbursed to the Recipient, as part of a grant to the Recipient pursuant to Revised Code Sections 164.20 through 164.27, pursuant to the pre-closing option and/or the reimbursement option, as described in subsections 5(a) and 5(b), respectively.

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