TDD Bond Fund Sample Clauses

TDD Bond Fund. If TDD Bonds are issued by the City, a TDD Bond Fund shall be created and administered by the City or its designee and will be utilized solely to repay the TDD Bonds and amounts, if any, required to pay rebate amounts. The specifics of the issuance and repayment of the TDD Bonds shall be in accordance with the TDD Bond Documents, to be approved by City ordinance, in accordance with this Agreement. In no event, except by mutual agreement between the parties hereto, shall the TDD Bond Documents be inconsistent with this Agreement. Upon issuance of the TDD Bonds, the Net TDD Bond Proceeds shall be disbursed to the Developer by the City or Bond Trustee for the purpose of funding Eligible Expenses in accordance with the terms of this Agreement and the TDD Bond Documents.
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Related to TDD Bond Fund

  • STATE FUNDED This part is applicable if the recipient is a nonstate entity as defined by Section 215.97(2)

  • State Funding (a) This Contract shall not be construed as creating any debt on behalf of the State of Texas and/or the GLO in violation of Article III, Section 49, of the Texas Constitution. In compliance with Article VIII, Section 6, of the Texas Constitution, it is understood that all obligations of the GLO hereunder are subject to the availability of state funds. If such funds are not appropriated or become unavailable, the GLO may terminate this Contract. In that event, the Parties shall be discharged from further obligations, subject to the equitable settlement of their respective interests, accrued up to the date of termination.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

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